In my two previous articles, "What is Trade Data" and "How to Use Trade Data," I said, what kind of data available are trade, answering questions about what they can and are used as the general. Once the decision to trade data in your enterprise, the next step is made to go, what kind of data you should use and what are the key characteristics that determine the choice of a commercial data provider.

U.S. Census data, or U.S. Customs?

The two main types of trade databy the Government of the United States provided U.S. Census and U.S. Customs data. In short, the difference between these two data sets that the U.S. Census data with a high level, aggregated view of the movement of goods to and from the United States and U.S. Customs is a shipment level, detailed overview of the products that are imported. Depending on the research, you will lead, U.S. Census data on different issues, when U.S. Customs data, and in some cases to answer, if the databe used together, can provide important insights to be found.

Select U.S. Census data, if you need the following:

The total value of goods that are imported / for a product or group of products are exported.
The top trading partner for the United States for goods or groups of products.
The data are based on the Harmonized Tariff Code or HTS number.
Information, including truck, rail, air or programs (which are not in the U.S. Customs included) data.
The balance of trade between the U.S. and aTrading partners.
Information on exports, there are currently exporting a complete set of data because it is not released by U.S. Customs authorities in the same way as import data.
Select U.S. Customs data, if you need the following:
Specific program details, so you want to see how products will be listed on the shipment documents.
Research a competitor or supplier imports into the United States.
Find businesses in a particular region, the import.
Search for product basedon the description (HTS codes are not) in the U.S. Customs data provided.
Supply-side device market share for companies.
Continuous monitoring of shipments for an importer or supplier.

How current can I expect the data to be?

U.S. Census data has been completed and published about 45 days after the close of the month. Most vendors will soon incorporate this information into their tools. The data is updated once a month and then it can change theofficial figures from the U.S. Census Bureau at a later date.

U.S. Customs data to the vendor on a daily basis and passed various providers and share this information for their clients within a few days or it may take several weeks. No vendors have a live recording of data, such as U.S. Customs, it takes a few days to spread the information. In addition, some vendors to supplement the raw data with external sources, which can be the raw data from U.S. Customs and causes diluteDelays in the distribution.

What are looking for properties in a commercial data provider?

The choice of a commercial data provider, such as the purchase of another business tool, the features and capabilities of the tool business. Once established, the types of data required will be determined, U.S. Census, U.S. Customs, or both, it is important to note that although the data on the same source, the interface that is used to influence the information also to a large extent find the accuracy, the databe accessed, how long it takes to complete a project, and the ease with which data can be drawn. Companies should consider the overall value when choosing a commercial data provider with these factors:

Timeliness of data (How old is the latest info?)
(Support provider level Will the supplier's also training and fast customer service?)
(Accuracy of the data has changed the provider, or truncated data?)
The accuracy of the search (Are you purchasing a searchEngine or an advanced trade data tool?)
Width of data (Does the provider to access only a slice of the dataset, or have several years of historical data?)
Trial subscriptions (Will the provider, you can use the tool before you buy used? A video demonstration or a sample report data is not a complete representation of the tool.)

Ultimately, the trade data of any kind will improve a company's knowledge base and the necessary information to make the propernecessary decisions in a changing market. It is up to the end user of the data, what type of information they need (high or detailed), which uses them for the data in their enterprises, which trade data functions of the application that best fits their needs and decide, finally, in which provider they can partner with government to transform raw data into actionable information.

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