What is Data Analytics?
The digital transformation is creating a flood of data which is constantly increasing. Innovative approaches are therefore needed to transform unstructured volumes of data into meaningful insights in order to retain competitive in the global market. This is where data analytics comes into play.
Data analytics provides insights about the company performance that are essential for its success. It can be seen as a core requirement for global operating companies to leverage large amounts of data in order to identify new business case opportunities. Sophisticated data analytics solutions allow companies to discover and analyze valuable information about the business and to monitor business activities. Based on such insights, businesses are able to interpret data correctly, make decisions and optimize processes.
Why choose MIC Data Analytics?
The MIC Data Analytics solution aims to optimize companies’ worldwide customs processes. Data analytics solutions became a must have capability in any modern customs software since it enables businesses to leverage customs related data, to detect data inconsistencies and to use it for compliance risk mitigation as well as for the determination of new optimization potentials. The goal is to provide your company the ability to easily analyze and visualize meaningful data.
The MIC Data Analytics solution is a set of modules designed to serve analytics ready datasets. It enables a flexible and efficient ETL (Extract, Transform and Load) process of the data and offers the possibility to perform analytics and data visualization on the available datasets. Also it is possible to choose a certain functionality of the module rather than having the whole solution. The MIC Data Analytics module supports the following features:
- Dataset: The MIC Data Analytics module provides data in a defined dataset. It is integrated in the MIC system and enables a basic data flow for each dataset (import, export, stock, parts, origin, etc.). For example, an import dataset contains information about the importer, imported goods, invoice, supplier, declarant, price, transportation, taxes, fees, etc.
- ETL (Extract, Transform and Load): Provides the ability to extract, transform and load a huge amount of data for data analytics purposes. The MIC system is capable of processing data from MIC modules or external sources (customs authorities, customs brokers, customer ERP systems or any other source). The transformation and enrichment of data with (tariff) content for analytics across countries/regions should not be underestimated and is covered by the MIC solution as well.
- Data Serving API: RESTful API allows the customer to integrate the data into their own ERP system, BI tool or reporting tool. In addition, it is possible to export data as files in various formats (e.g. CSV, JSON).
- Business Intelligence: The BI tool Apache Superset allows for creating a dashboard and visualizing data. The tool comes with predefined analytics queries based on the available datasets and predefined dashboards and charts. A very intuitive user interface allows individual adjustments by the end-users.
What are the benefits for customers?
The MIC Data Analytics module can be run stand-alone without the need of any other MIC modules and is a perfect start for getting visibility on its global customs processes. The system is completely built with open-source tools and provided as a SaaS (Software-as-a-Service) solution. The goal is to give our customers fast and easy access to dashboards and reports. MIC’s Data Analytics solution was designed to deliver several business benefits:
- Minimize static reporting
Immediate access to real-time data
- Improved decision making
Identify market behaviour and optimization potentials incl. extraction of data for business decisions
- Problem identification
Easily identify problem areas across the global organization
- Increased compliance & audit-readiness
Avoid unpleasant surprises during audits
MIC is the world leader in providing global customs and trade compliance software solutions. The MIC group currently employs 400+ professionals around the world. More than 700 international customers rely on MIC software products for their global customs and trade compliance management solutions.
For more information about MIC and how we could help your operations, please contact us via [email protected]mic-cust.com.