WorldTradeDaily.com reports daily on the World of Trade Intelligence: the information suppliers, their products, types and kinds of trade data, business applications, and most importantly, the real intelligence behind trade intelligence – people. We’ll start this week by looking at a new product.
Several weeks ago, Datamyne announced the launch of their new interface, Datamyne 2.0. According to Lisa Wallerstein, Vice President of Marketing and Product Development, their new Trade Intelligence product, “makes searching trade data easy”.
Datamyne, founded in Uruguay in 1992, established its U.S. headquarters in Miami in 2005 with financing provided by venture capital group Nassau Point Investors. A veteran trade intelligence provider with 120 employees, they offer access to trade information in 48 countries.
In their basic entry level package, subscribers search and report on aggregated statistical trade flow data that highlights the markets that are growing or declining as well as specific volumes and values on 20,000 plus commodities.
Premium users get additional features. Called Datamyne “Cargo”, subscribers can drill down to the specific details on individual shipments. By sifting through shippers Bills of Lading (BOL), U.S. manufacturers thus identify and vet potential foreign suppliers of raw materials or components (Foreign Sourcing). Further, they can see which sources their competitors buy from (Competitive Intelligence).
Datamyne’s new interface was developed over a six month period following extensive interaction and collaboration with their existing clients. As Ms. Wallerstein further reports, “Datamyne 2.0 was built around the work flows of our customers… how they like to access and use the data.”
The U.S. imports far more goods than it exports (trade balance). Along with this unchanging reality, American manufacturing has been on the decline for decades. Instead, we turn to more economical foreign sources for goods (and services). With these trends in mind, Datamyne’s mainstream clientele are using the interface to assist in foreign sourcing.
This week at WorldTradeDaily.com, we will explore:
- Trade data and how it is used to help U.S. manufacturers and distributors find new sources for their raw materials and product components.
- U.S. Customs (AMS) waterborne shipping manifest (BOL) import data – what it can tell you and what it can’t.
- A deeper look at Datamyne’s new Trade Intelligence product, Datamyne 2.0.
- Lisa Wallerstein and her impact on the World of Trade Intelligence.
- Continuation of our Pick of the Litter series, fetching our favorite trade related blog posts and articles from the web.
- Part 2 of WTD Back Story reflecting on the early days of CenTradeX, which became a major innovator in the field.