Business Intelligence in our Maritime Industry

The maritime industry holds a lot of importance as many industries are connected to it in different ways. It also plays an important role in the economic development of regions and countries. Tons and tons of cargo get transported around the world on a daily basis. Besides essential commodities, there are a number of other products that get shipped to destinations across the world. However, every single delivery requires a lot of coordination and communication across multiple stakeholders. With multiple operations, there is a huge amount of data that gets generated every day. It could everything right from the volume of cargo, cost, shipping time, optimal route, fuel consumption, etc. All these are important parameters based on which a lot of decision-making is done.

This makes the applications of modern-day tools like Business Intelligence, Data Analytics, Big Data, etc. very crucial for the maritime industry. The shipping industry extensively faces some of the problems like escalating transportation costs, increasing fuel prices, surcharges, and freight rates. Reducing transportation costs remains one of the biggest concerns of the shipping industry as they look forward to doing business sustainably. The revenue of shipping corporations gets significantly hampered when surcharges are not regulated. Further, increasing compliance regulations only compound problems. It makes it all the more important for businesses to make use of technology and reduce their operating costs. It can become very difficult for shipping corporations to progress ahead without making the right use of technology.

When the delivery data of suppliers isn’t clear, it can become very cumbersome for logistics companies to keep a track of progress. However, with tools like business intelligence, these issues can be overcome. It can add a lot of value to shipping corporations by reducing improving efficiencies across the supply chain. These technologies make great use of data and provide relevant insights that lead to better optimization and cost savings. Tools like Tableau and Power BI are very effective when it comes to business intelligence. They provide decision-makers knowledge of key areas that can be optimized for better savings.

Shipping corporations can also get the knowledge of route optimization in real-time, swift deliveries through best routes, and forecasting any possible disruptions in the supply chain. The customers, too, benefit from data analytics and then track the delivery of their goods on a real-time basis. As the shipping corporations will have knowledge about weather forecast and delivery schedules, they can further optimize their procurement and inventory management processes.

At 49 Web Street, we can help you improve your business processes through a combination of business intelligence tools. We are a leading name in the maritime industry and provide innovative solutions to our esteemed clients across industries. We offer realistic solutions to our clients and some of the advantages of partnering with us are:

• Make data-driven decisions for better business management.
• Improve your business efficiency, based on historic data.
• Streamline the supply chain process for better results.
• Set, track and optimize your KPIs.
• Study and define the best routes based on conditions like weather.
• All of these would directly lead to better profits.

To know more about services, please get in touch with us today.

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