Orange trees are the most cultivated fruit trees in the world. They grow in over 150 countries. There are over 50 distinct varieties. Each variety of orange in each unique country is slightly different, as each has adapted to the ecology of its environment. Some oranges are sweet, some are sour; some have seeds, others do not; some are large, some are small. Despite these differences, they are all citrus fruit identifiable by their common attributes and familiar to us wherever we travel.
The same is true for economies and the firms and jobs they contain. Each is shaped by its environment, but at the core they are all economic systems, providing products and services we use to live our lives. Like the oranges, economic systems may be big companies, or small mom-and-pop shops; they may be in high-tech or rural farming environments; they may be global urban centers or local manufacturing centers. Despite these differences, they are all performing common functions recognizable by their common attributes and familiar to us wherever we travel.
Locus has developed a revolutionary approach to tagging economic activity that uses a set of functional attributes that are common to all economic systems. It is the first classification system specifically built to manage and analyze the large business/economics data sets of the 21st century and withstand the ongoing changes in global economic trends. We believe that it will fundamentally change how economic activity is studied and analyzed.