Data-driven decision making – How this can improve your freight hires

Foreign trade encompasses a dynamic and comprehensive process that requires knowledge of both customs legislation and logistics planning. This means that certainly international freight and data science are great allies in the strategy of companies.

After all, cost and agility are paramount to the success of any company.

Technological advancement and real-time information from various locations around the world have made it easier to make decisions from data. Thus, with assertive comparisons and well-prepared analyses, it is possible to hire more competitive freight and with better conditions.

The contracting of freight done strategically and well structured can avoid the dreaded demurrage and / or generate saving in your shipment.

In short, understanding all the guidelines and applying strategies in your process is what will result in the quality and agility of your operation. In addition, reducing costs, avoiding delays and receiving the goods without malfunctions are essential factors to maintain the competitiveness of your business.

What is data science?

Data science is a branch of technology capable of identifying consumption patterns and analyzing economic, social and cultural data that assist in the strategies that should be applied by each company.

This information is generated through artificial intelligence from clicks on websites, images and any other information available on the internet. These hits basically leave a “trail” of consumer preferences.

It is therefore considered the junction between computer science, mathematics, statistics and business and is becoming one of the fundamental parts in organizations.

Finally, this type of science helps in solving problems from the analysis of data and algorithms, creation of new products, significant changes in business and even in organizations.

Technologies used for data-driven decision-making

International freight and data science are part of the routine of any company that operates in foreign trade.

With the pandemic, freight has increased by up to 500% directly impacting the cost of the product.

Access to data promotes competitiveness through greater focus on the customer, more assertive decisions and agility in identifying opportunities from market movements.

There are several ways to capture consumer information from the internet and with the increase of the electronic market this becomes increasingly easy and rich in details.

Thus, some technologies are used as a way to acquire as much data as possible.

Big Data

This model represents a large-scale data collection with structuring for further analysis. In this way, this ensures greater variety with increasing volumes and speed in capture.

Big Data has 5 concepts considered most important, being: volume, speed, variety, veracity and variability.

Therefore, different data are stored from clicks on ads, logins on websites, IP address, search history, etc.

The datasets are so extensive and complex that they cannot be processed by ordinary software.

Machine Learning

Machine learning consists of a set of methods capable of identifying patterns and making predictions through algorithms through artificial intelligence, being a subset of artificial intelligence.

It involves construction and development, being considered closer to a software engineering.

It is mainly used in the corporate environment such as Google Translate, movie suggestions in applications and even the targeting of emails to spam box.

Business Intelligence

Known as BI, it is responsible for data analysis that makes possible a structured visualization for decision making providing intelligence for business.

In addition to the organization of the data, this tool provides greater ease in visualizing the information in a clear and rich in detail way.

There are some software available in the market capable of generating management reports with great detail based on data science and even dashboards for international freight.

AI (Artificial Intelligence)

Artificial Intelligence performs complex activities previously done only by humans. It is a technology that enables electronic devices to act in ways reminiscent of human thought.

It is basically programmed for solving logical problems with more autonomy to make decisions.

AIs are, for example, voice assistants such as Siri and Alexa, or even facial recognition.

The capacity will depend on the sophistication in which they are developed, and can be extremely advanced.

How data science can be useful in hiring international freight

International freight directly impacts the company’s strategy and, as we said, the Covid-19 pandemic has made this even more evident the importance of international logistics in the performance of companies.

In this way, through collected data, it is possible to compare the quotations of different service providers that makes it possible to evaluate which are the best options in the market.

Faithful data analysis

The database needs to be from reliable sources and that present numerous possibilities to make a more efficient management, ensuring competitive differential for the company.

Usually it is real information extracted from consumer behaviors through the internet where statistical data is generated that will serve to track trends or strategies.

In this way, the company needs to direct hierarchies and links between the data to ensure information pertinent to reality.

Insight Generation

Insights are essential in the corporate environment, as they enable innovative ideas and development.

From a large volume of data, it is possible to organize in a structured way information that will generate insights. A database without any organization for strategic analysis becomes just data.

The most important thing in data science is to use it as a form of strategy for your business.

Cost modeling

With data extracted from different sources, international freight and data science go hand in hand for market comparisons and price formation.

This is because other factors will influence costs, such as route alternatives, applied taxes, pickup and drop-off locations, etc.

The accurate data will contribute to the accuracy and assertiveness of the cost not only of the freight, but also the total of the operation.

Cheap2Ship finds the best routes for your international freight

There are numerous factors that can negatively impact your logistics operation bringing costs and delays. Therefore, operating intelligently reduces the risks in your processes and simplifies the day to day for more assertive decision making.

Cheap2Ship offers a complete solution for international freight and data science in a simple and agile way.

Through an online platform, your company can operate with different service providers, enabling a simple and organized visibility for the best freight quote. Your company will be able to analyze several routes and prices that best apply to your business according to each shipment.

In addition to assisting in the conference of the contracted services both in relation to the price and the deadlines.

With Cheap2Ship, information is stored in one place avoiding email exchanges, loss of time and information, and can generate management reports for comparative analysis.

Contact us and  get to know our solutions ensuring a safe and agile shipment.