In my previous article,  "What is trade data " and "How to use trade data ", I discussed what types of trade data it can answer and what the general purpose is. Once you decide to use trade data in your company, the next step is to determine what types of data you should use and what important features you need to consider when choosing a trade data provider.

U. S. Census or U.S. Customs data?

The total value of the shipment that was imported/exported for the product or product group.

The top trading partner of the United States is a product or group of products.

Data based on the uniform Tariff code or kidnappers number.

Includes information on trucks, railways or air transport (these are not included in U.S. Customs data).

The balance of trade between the United States and its trading partners. With regard to export information, there is currently no complete set of export data, because the United States Customs did not publish it in the same way as the import data.

  If you need the following, please select US Customs data:

Specific shipping details, that is, you want to know how the product is listed on the shipping document.

Study the importation of a competitor or supplier to the United States.

Find the company that is being imported in a specific area.

Search for products According to description (H.T.S. Code is not available in U.S. Customs data).

Establish supply side market share for company. Continuously monitor the shipments of importers or suppliers.

How should I expect data in time? 

The U.S. Census data was completed and released nearly 45 days after one months. Most providers then quickly incorporate this information into their tools.

The data will be updated once a month and the official information of the Census Bureau can be amended. U.S. Customs data is released daily to suppliers, and different suppliers disclose the information to customers within a few days, or it may take weeks. There is no real time data source for the provider because it requires U.S. Customs to distribute the information for a few days. In addition, some providers have added raw data from external sources, which can dilute U.S. Customs raw data and lead to allocation delays.

What features do you want to find in your trade data provider?

Choosing a trade data provider is like buying any other business tool; The features and functions of the tool. Once you have identified what type of data set you need, the United States Census, U.S. Customs, or both, it is important to point out that even if the source data is the same, the interface used to find information can significantly affect the accuracy of the data retrieved. , the time required to complete the project, and the ease with which data can be pulled.

When choosing a trade data provider and these factors, the company should consider the overall value: Timeliness of data (how big is the latest information?)

Provider level of support (does the provider include training and prompt customer service?) The accuracy of the data (does the provider change or truncate the data?)

  Accuracy of search (Are you buying search engines or advanced trade data tools?)

The breadth of the data (does the provider restrict access to slices of the dataset, or provide years of historical data?)

Trial Subscription (Does the provider allow you to use the tool before you purchase it?) A sample report for a video presentation or data is not a complete representation of a tool.

Ultimately, using any type of trade data will improve the company's knowledge base and provide the information necessary to make the right decisions in a changing marketplace. The end user of the data determines what type of information they need (advanced or detailed), they will use what is within the company's data, which trade data application features best meet their needs, and finally, what providers can partner tirelessly they convert raw government data into operational intelligence.

TradeSNS provides trade data tools for analyzing your marketplace. We have a system, provide customs data, suppliers, prospects, and the products your company uses, markets, or imports. And you can make friends with other foreign traders. Visit www.tradesns.com to see sample of trade data.