CenTradeX: Background and Outline of Available Trade Intelligence Applications
March 13th WTD article: CenTradeX, founded by Robert Thompson in 2000, initially focused on bringing value added features to U.S. import and export data. Thereafter, they layered and connected this U.S. centric data with global import and export data on 200 countries. Up until then, no one had ever layered and integrated these data sets.
Atop these various statistical data collections, CenTradeX crafted a graphic, interactive interface. After selecting an “X” vector (one of 20,000+ HS coded products) and a “Y” vector (one of 200 listed countries) users were presented with dozens of dynamically created reports on their chosen “intersection”. Over a billion unique reports could be potentially generated by the system. Next, they identified and incorporated company data – both foreign and domestic – to uncover the actual traders behind the statistics. CenTradeX assimilated the best-known sources; Kompass, Harris Info, Hoovers, D&B, PIERS, etc.
One of the challenging aspects was that statistical data is organized under one (HTS) classification schema while company information is organized under other (unrelated) systems (SIC, NAICS, or a vender’s particular proprietary taxonomy).
Further, they successfully incorporated other disparate data sets such as tariffs (for all countries and products), estimated shipping costs (from various U.S. port regions to any /all countries), live stock market and Forex feeds as well as their clients’ proprietary data collections.
The most daunting data transformation endeavor was that of understanding, normalizing and intelligently incorporating U.S. Customs data into this dynamic mix. It took CenTradeX several years to develop an intelligent system by which to quickly and seamlessly assimilate the daily Customs feeds. See March 1 WTD Article, March 14 WTD Article and March 15 WTD Article.
From March 12th WTD Article: U.S. Customs (waterborne manifest BOL) data is considered the most valuable data collection. Why? It’s available on a daily basis, within hours after shipments clear. It’s detailed and transactional; containing shipment by shipment accounts of suppliers, importers, products and supply chain. It represents $1 trillion+ global trade a year.
Transformed Customs data, integrated with other statistical, company, trade and economic data sets can be a powerful tool by which to successfully navigate within the multi-trillion dollar international trade marketplace. A plethora of Trade Intelligence applications and services can be thus developed and marketed. Samples of selected developed applications.
The collection of programs, procedures and referential databases with which CenTradeX transforms raw data into usable business intelligence is referred to their “A.I.” (Artificial Intelligence Engine). It, along with their huge data repositories of statistical, company and transactional data collected over the years, together represent the primary assets (along with the human intelligence and experience by which to integrate, develop and deploy them) that are offered for license, sale or joint venture consideration. CenTradeX Commercial Services.