“Export Insight provides companies with a data analysis tool with which to make better internationalization decisions”

In the first quarter of 2021 it will include more information about each company

In this webinar by Empresa Exterior and Iberinform in which under the title “Internationalize your value chain” we will present all the details of its new online service “Export Insight”, developed in collaboration with the market intelligence company Enantio.

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We have invited to Eduardo Kaibide, co-founder and CEO of Enantio, which over the next 30 minutes will show us all the benefits of this new online service.

 

What is Export Insight, what are its essential features and who is this tool for?

 

Eduardo Kaibide: “Export Insight is a foreign trade data analysis platform. Within this category of market intelligence, what we are trying to do with this platform is to provide companies with a data analysis tool with which to make better internationalization decisions, both in their exports and imports.

 

It is an online tool for analyzing data generated by the official sources of each country with the highest level of detail possible for each market, with which be able to make those decisions based on data, in terms of searching for opportunities, new markets, potential clients, competing suppliers, analysis of trends, products... everything that allows business managers, export directors, purchasing managers to make decisions based on information as exhaustive as possible, based on data and not only on their own knowledge on the ground, on surveys, perhaps more subjective...

 

What we try is that from the transactions themselves that have occurred, without us intervening in advising, giving an opinion or interpreting those operations, but in such a way that the user himself can analyze these operations and draw his conclusions; facilitate the digitalization of all these processes, which in these circumstances we are experiencing is especially necessary.”

 

Export Insight allows you to search for export opportunities, both by country and by product. Can you explain to us how?

 

EK: “Essentially what we have done to develop the platform is to generate a search system that is as intuitive and agile as possible. A first strip of the search engine consists of product, in terms of tariff code, country of origin and country of destination, with these three elements the user can do a simple search but that allows him to analyze any product in any country in the world, and with that information to have those basic magnitudes with which to identify opportunities, in terms of market size, growth or decline trend, main importing or exporting countries to that market.

 

In a second level of more specific filters, the user can enter much more specific markets, some niches that may interest them, being able to incorporate in the searches even the names of some importing or exporting companies, the description that has been given to the product in each transaction… elements that can cause us to filter information with which to identify much more specific opportunities than what a tariff code could allow.”

 

It also allows you to find new countries to import from; What criteria can be entered into the search engine to perform this search?

 

EK: "If what we do is specify in the search a destination country, what we are going to see is what that country declares to have imported that product, we will be analyzing information aimed at identifying opportunities to export to that destination, while if What we focus on is a country of origin and a product, we are going to provide information on what that country is exporting.

 

That would be in the cases of countries that have the minimum level of information; additionally There are around 50 countries in which we have reached agreements to be able to obtain more detailed information monthly: name of the importing and exporting company, the description of the product in each transaction... There we would enter the part of competitive intelligence and in-depth analysis of what specific companies do.

 

Another of the uses of Export Insight is the analysis of potential importing companies and also suppliers. Is this utility only available for certain countries?

 

EK: “The main limitation of the platform in terms of what level of detail or questions it can answer depends on the country that is being analyzed, because depending on the country we will go to one or another data source that has a greater or lesser level of detail. . We are working based on the current legislation in each market and what type of information is made public.

 

What would be the maximum specificity in terms of information that we can obtain, for example, from a potential supplier in one of those 50 countries?

 

EK: “I’m going to share the screen and we’ll look at a case study. Let’s take an example of wine, a product familiar to everyone. We’ll use Mexico as the destination country because it’s one of those countries for which we have extensive data, and we’ll start the search. In the advanced filters section, we can filter by the analysis period, the specific product description, the names of exporting and importing companies, and so on, resulting in a more specific search. We would have an initial context module, the option to export the data to an Excel or CSV file, save the report, and below we would see the total monthly volume by value of the product imported into that country, the month-over-month trend, a breakdown of all the countries that have exported to Mexico with the total amounts and corresponding percentages, and who the importers and exporters are, with their specific market share for that product and market, and the corresponding amounts ordered from highest to lowest.”

 

We have that element that I said before about how those descriptions are much more interesting than the tariff code because we could differentiate what wine they are sending to Mexico, the total number of bottles or cases, and the amounts, with which we would arrive at the unit price of each bottle…"

 

Export Insight, the tool developed by Enantio for Iberinform, also allows you to track competitors. How?

 

EK: "Exact. Once we have a relatively limited market in terms of country and product, it is very important to go to that additional level of seeing who the companies involved are. In the sense of, on the one hand, seeing who our current importer is buying from in addition to us, who are all their suppliers... Seeing what a competitor's exports have been, who their clients are, what operations they have carried out, when, why does it matter...

 

Finally, another of the possibilities that this online tool offers companies is the analysis of product and unit prices. What is this utility for?

 

EK: “Indeed, this analysis of products and prices is what we were seeing here in the general search, continuing with that example of wine in Mexico. We could see what product we are talking about in each case, what the quantities have been, with which we can put the total amount of the transactions in context, in order to not have a general average price but rather unit prices of specific products with dates of specific transactions and clients. For example, that Spanish winery that has three clients in Mexico, we could analyze if it is selling the same product to the three importers, if the price changes by importer, by date of operation.

 

From the same search in Export Insight we can change the perspective, the point of view of what we want to analyze. The manager himself, export director, purchasing manager, is the one who does these searches. We want these data to speak for themselves to this person who already has sufficient knowledge of their sector., of the companies, of the products, so that those small details in this way are much more obvious, it is much easier to detect where the value is, that knowledge that will determine whether one or another decisions are made. And honestly, these operations, for this Mexican market, for example, would be somewhat more complex to analyze in a spreadsheet than what this platform allows. This analysis and search process is much more agile and interactive.”

 

And that they can make their decisions with true and updated information, not blindly.

 

EK: “Indeed, it is something that is obvious to everyone that after this year they will have changed. The fact of having information that is updated recurrently every month allows us, especially when circumstances are changing, to be able to detect how they are changing. Not having to rely on an intuition, a hunch to make business decisions, but rather see what has happened, see the near past, and based on that be able to make better decisions, with data from last month, not two years ago. .

 

A Spanish company from its office without the possibility of traveling can be up to date with what is happening in its main or potential markets, with its clients, with its competitors, its suppliers.”

 

Can you tell us how companies can access Export Insight?

 

EK “Access is very simple. From the Iberinform website you will access the direct link to this new specific foreign trade platform that is Export Insight, and there are different levels of access. There is a first free account with which any user can access, start doing your searches, get information on at least that most macro level of any product and any country, and get samples of the data that you could already get from those markets with specific information. From there, by creating an account, simply by registering on the platform you will be able to save your most relevant searches, allowing you to generate that habit of analysis, consultation, monitoring, from your computer or mobile phone... and now in your own platform have the possibility of subscribing to access complete information on those countries that interest them. And there, access to information with maximum detail would be unlocked.”

 

Any usefulness that remains to be explained about the platform?

 

EK: “Today Export Insight is a platform for analyzing exports and imports, allowing access to all that information. In the first quarter of 2021 we want to make an update which will allow us to open another aspect of the application that will make it much more useful in the business part. Which We are going to incorporate much more information regarding each company., in such a way that a user will be able to click on the name of that importer, the possibility of opening a profile of that company where they can also put an estimate of billing, employees, address, telephone number, contact email, other related companies . And that would serve to identify potential suppliers and clients and have information on how to contact them, especially as we said, without being able to attend a fair, a trade mission, being able to travel to the country... we understand that these elements are going to contribute a lot to the type of user. of Export Insight that are focused on prospecting for new markets or new opportunities.”