New York City – May 29, 2008 – Pursuing Integrity’s mandate of finding and monitoring valuable sources of information to our clients, we continue to uncover unique gems in the research field. Our blue diamond this week is The Datamyne (www.thedatamyne.com), an import-export data provider with information solutions suitable for different needs.
Inspired by the import underreporting in some Latin American countries owing to tax avoidance, The Datamyne was born in 1990 tracking down imports and exports in the region. Since then the firm has solidly positioned itself as a data provider covering international trade in all industries in over 40 countries around the world. Originally based in Uruguay and Argentina, The Datamyne has grown to serve over 2500 global clients (primarily corporate enterprises), maintains ISO certification, has established its headquarters in Miami with satellite offices in other cities in North and South America, and has extended its coverage to the Americas, Europe, and Asia.
The Datamyne’s data is collected from in-country official agencies involved in import-export regulation. Bills of lading provide the company with detailed information in these transactions, allowing them to report, sometimes more accurately and timely than official estimates by in-country authorities. The database incorporates enormous amounts of data received from the different countries and arranges it in a way that is suitable for different types of analysis.
“If you were given the official data from each country, you would not know what to do with it because it comes in huge chunks of undecipherable information,” said Stuart Bell, Director and Chairman of Management Committee at The Datamyne. “What we do is put that data in a format that is both understandable and usable.”
The data collected and cleansed by The Datamyne allows one to discover microscopic details in a given industry. Based on actual bills of lading instead of mere estimates, the details that can be uncovered from their data are exceptionally accurate and granular. Furthermore, the data has been used to contrast the government data which is compiled by survey work.
In one report put together by the company using their own data, they were able to closely examine the US crude oil imports in the recent past. Thousands of daily data points such as port of origin, country of origin, quantity, and export company name can be used to reveal accurate trends in the industry.
Their coverage crosscuts industries and sectors which allows for customized searches. They currently count on some 500 million records on international trade -collecting around 90 million records per year.
“We are all about data and we are at a point where the quality and quantity of our data is truly unique,” said Pablo Milburn, Founder and CEO.
In the meanwhile, here at Integrity Research we continue in our prowl for blue-diamonds to help our buy-side clients research their unique ideas.