Missing data for your forecasting models?

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Jun 3, 2020 | Insights

5 ways TrendDiscovery API can help

Digging for data

Quality data is the lifeblood of trading and analytical models. It provides the foundations to more accurately predict trends, gain an information advantage, make more informed trade decisions and buy products at the best possible price. 

But all too often, we’re working with incomplete data series or relying on traditional and manually intensive methods to fill the gaps. This means that we spend most of our day digging for data in countless emails and market reports – time we don’t have when faced with increasing cost pressures and competition. And of course, by manually updating the data, we also run the risk of introducing errors that make our models less accurate. 

Ultimately, poor quality data makes it harder for us to assess risk and reduces the added value of even the most sophisticated forecasting systems.  

The most comprehensive agricultural commodities database

 

 

Here at AgFlow, we recognized that digitalization and greater data transparency could improve our daily workflow and enable more robust decision-making. We knew that the data was out there. But the networks and technology to bring it together in a meaningful way didn’t yet exist.  So, working closely with well-known brokers and trading companies, we developed and launched the first participative market intelligence platform for global physical agricultural trading. 

Since then, our team has developed strong relationships with a broad network of trusted contributors who regularly provide us with the latest cash price quotes, freight indications and vessel line-ups data. Thanks to these partnerships, we now have access to the world’s most comprehensive agricultural commodities database, containing over four million data points. We’re also proud to be the chosen data provider of a wide range of well-known companies, including BayWa, Glencore, Bloomberg, Toyota Tsusho and Gavilon

Let the data come to you

But of course, what makes the greatest difference to your daily workflow is having the right data, when and where you need it. The TrendDiscovery API allows commodity market colleagues – from traders and data analysts to risk and purchasing managers – to make more informed trade decisions, build richer models, benchmark transactions and procure products at the best possible prices. 

But how does it work? API is short for Application Programming Interface. In a nutshell, an API allows two applications to communicate with each other. Thanks to APIs, your system can get information from a third-party database. In the case of AgFlow’s TrendDiscovery API, your system receives data directly from our database allowing you to choose the way you want to view it.

Customers have told us that this service makes their lives easier in five key ways. 

1. The data you need is right where you need it

As an API customer, we provide you with a unique and secure URL which gives you direct access to the specific data you’ve requested. Regardless of whether you’re using a software-based or Excel-based model, you can integrate your selected data directly into your existing in-house system. You can also choose to export it in JSON or CSV format. This means no more scraping data from brokers’ reports and more time to focus on your day job.

2. You get reliable information from sources you can trust

We’re fortunate to work with a global network of trusted data contributors – including the USDA, Frey, Agniel and SGS – to gather the best quality cash price quotes, freight indications and vessel line-up data available. Each contributor registration is verified by the AgFlow team to ensure the quality and accuracy of information provided. The source of each data point is also listed transparently in our database, meaning that you always know where your data is coming from and can reach out to contributors directly as needed. 

3. You don’t waste time maintaining your database

The AgFlow team consolidates and aggregates data from multiple sources and weeds out any irrelevant data points, so you don’t have to. We also make sure that all data is presented in a standardized format in terms of currency or measuring units, reducing the scope for error when comparing prices across different geographical areas. This means that you can quickly navigate through a wide range of data points and easily see the big picture. 

4. You have the latest knowledge at your fingertips

TrendDiscovery API provides information on cash price quotes, freight indications and trade flows for over 75 commodities in 200 countries. As well as containing a wealth of historical data dating back to 2013, up to 200,000 new data points are added every month. Many categories are even updated several times a day. So you can be confident that you’re making decisions based on the most up-to-date information available. 

5. It’s easy to set up and tailored to your needs

Setting up the API is quick and easy. You select the data that is most relevant to you and your business and you only pay for what you need. We offer access licenses for current and historical cash price data, freight rate indications and trade flow data. Of course, access can also be further tailored as needed. Once we’ve created your account and configured your settings, you’ll receive a PDF guide to help you get started and make the most of your subscription. The AgFlow support team will be on hand to guide you through the set-up process and make sure that you and your colleagues hit the ground running.  

Ultimately, TrendDiscovery API offers you the most complete data series to take your in-house model to the next level. So you can make better decisions and respond more quickly to emerging threats and opportunities in the market. 

Looking to the future

 

 

The AgFlow team works closely with customers to better understand how we can constantly develop our tools to add more value to their daily workflow. In response to recent requests, we’re now looking to integrate new cash price quotes on linseeds, rice and animal feed, as well as additional data on weather conditions and crop quality. In the next few months, we’ll also be developing a mobile app, so you’ll have access to aggregated data sets on the go and can receive push notifications as prices and data are updated. 

Interested in knowing more about the TrendDiscovery API? Contact us to discuss your needs with our support team or click here to get a free data sample

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