As the year ends, I know that a lot of companies are currently reviewing what services they need next year and what types of information they will subscribe to. Trying to determine what type of data you need to understand your market and competitors can be a difficult and frustrating process, especially if it cannot answer all the questions you need after subscribing.

To help companies make an informed decision when subscribing to a trade data provider, I wrote a series of How To articles featured on Ezinearticles.com. Below are links to the articles and short descriptions of what each one is about.

“What is Trade Data?”

This article describes what the term 'trade data' means and what types of trade data exist. Read this article if you are new to trade data and would like to understand what types of information are available from the U.S. government and trade data providers.

“How to Use Trade Data”

I examine different questions that trade data can help you answer. For example, do you know how to find specific information about your competition’s imports or what country is the leading exporter of bowling equipment to the United States? This article will help you choose the right type of data to use based on the questions you have.

“How to Choose a Trade Data Provider”

In this article, I provide an honest assessment of what qualities are most important when choosing a trade data provider. If you are currently interested in subscribing to a trade data source, there are a number different questions you need to ask yourself to ensure that you pick the right type of data and select a tool that will meet your needs.

Please give these articles a read and comment to this post if you have any additional suggestions that I can include in my future articles.

BBC News has been tracking a container, NYKU8210506, as it travels around the world to illustrate global trade. I previously blogged on the story about a month ago, "The Box": The BBC's featured container is in Zepol's TradeIQ, and noticed the container had entered the United States a couple of times in the last two years. The container recently departed from Shanghai and arrived in Los Angeles on 12/3/2008. To read the story from the BBC, take a look at their feature article.

When the container arrived, U.S. Customs and Border Protection released the AMS data that was submitted 24 hours before the shipment left Shanghai. The companies involved with the shipment input data showing what products would be entering the United States and submitted the information to U.S. Customs. U.S. Customs then took this data and released it under the Freedom of Information Act. Zepol made the data searchable and reportable for our customers, who then can use it to analyze their competitors, suppliers, and markets.

For the shipment, “The Box’s” Bill of Lading detailed the following product descriptions for 1,254 cartons:


Many first time users of U.S. Customs trade data are surprised by the level of detail that is shown for every shipment entering the United States. Above is only a piece of the Bill of Lading that Zepol provides to our customers, please take a look at this Bill of Lading Sample to see the full detail of the data.

As the year comes to an end and the recession carries over into 2009, one question a lot of the companies that we talk to are asking is: Why should we invest in trade data now? I completely understand why they question making additional investments. As more companies look for ways to cut their expenses, purchasing a subscription to a trade data source is one of the items that is being examined. However, now is not the time to reduce the amount of information that is being analyzed, rather it is time to increase your market research and competitive intelligence budgets.

Smart companies are increasing the amount of data they utilize. Knowing more about your market, competition, and suppliers drives better decision making and in this economy a poor decision could be fatal. Whether your company is feeling the pains of the global economic downturn or growing in spite of it, below are three key points that are relevant at any time, in or out of a recession, to companies that import product into the United States.

1. Knowing what your competitors' U.S. imports are allows you to react more quickly, decisively, and accurately to increase revenue and protect market share.
2. Reducing your supply chain costs through supplier intelligence always increases margins.
3. Finding new opportunities, fresh leads, or untapped markets is how to create revenue streams without constantly battling your competition over the same accounts.

Right now, there are incredible opportunities for companies that are in position to take advantage of current market conditions. Trade data is the source of information that can show the correct path toward success for importers that are looking to improve their sourcing in 2009. Others are using the data as a barometer for the health of their competition’s business as it will show when they have cut back on orders or switch suppliers before it is available anywhere else. Making trade data an integral part of your company's decision making process creates the comfort of knowing that the choices you make in 2009 are based on facts rather than fear and panic.