7 Things You Should Consider Before Buying Trade Data?
While trade data is a valuable commodity, finding the best data provider at the best price can prove difficult. Many providers collect and publish raw data without categorizing the information into a digestible, searchable form, while some services feature restrictions, such as download limits, that deflate their value for users. Therefore, before buying trade data, consider the following factors:
- Quality of the data provided - Restrictions placed on their services - Technological investment of the data provider - Price range relative to the services provided
Quality data providers offer complete, timely information that is cleansed, standardized and coded. They also increase the usability of the data by supplying value-added fields, such as TEU, HS, and SCAC Codes.
Data providers that invest in technology are more likely to avoid inaccurate information. Often, these companies offer increased or unrestricted download limits and improved user interfaces that enable keyword searching. They also typically support a larger number of file formats, including CSV, Excel, and PDF. Read more