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What is Data Standardization?
Standardization is the process of transforming various data sources into a common, usable data language. It has the power to substantially increase business agility, strengthen decision making, improve connectivity, and enhance scalability.
Increasingly, digital maritime shipping workflows have resulted in a vast ocean of data that can be powerfully leveraged to answer key questions about profitability, efficiency, and optimization. While data has the power to transform, much of it remains disparate, unstandardized, and unusable. In addition, different stakeholders refer to data in different ways, further contributing to a lack of standardization industry-wide. Through data standardization, maritime decision-makers can finally access the timely and decision-ready information they need to power data-driven success.
of stakeholders say real-time data access and information sharing are important for increasing the efficiency and performance of the industry.1
million data points are collected in the maritime industry every day from sources such as vessel movement, ports, and more.2
For many maritime shipping teams, manual, duplicate data entry still impedes information quality and operational efficiency. By automating the flow of data across systems and stakeholders, data standardization equips maritime shipping teams with the timely and reliable insights they need to rapidly adapt to ever-evolving business realities.
Equipped with accurate, timely, and reliable data, maritime shipping stakeholders can make the monumental shift from instinct to insight. From considering the latest internal and external realities to ascertaining the business impact of new initiatives, standardized data makes it possible for maritime shipping organizations to make better decisions that enhance commercial success.
Long dominated by email-based communications, the maritime shipping industry lacks a structured, standardized, and scalable way to share information between key stakeholders. By establishing standards for communication and collaboration, counterparties can strengthen their relationships with one another by sharing pertinent information in an intentional way.
Data standardization is foundational to the maritime shipping ecosystem’s data-driven future, but many businesses remain uncertain of where to start or how to get there. Key to defining and executing an effective and future-proof data standardization approach is the selection of a proven digital partner that has a strong presence on both sides of the maritime contract.
At Veson, we are committed to providing the platform and the expertise needed to guide our clients’ paths to data standardization. Our market-leading commercial freight and fleet management platform unifies every part of your maritime shipping workflow and serves as a single source of standardized data throughout your organization. In addition to enabling standardization at the company-level, we are committed to helping propel data standardization best practices industry-wide through new and innovative approaches to cross-stakeholder collaboration and data sharing.
While the right platform and partner are integral to each organization’s ability to standardize data, more pervasive change will require real collaboration and communication across the maritime industry. At Veson, we’re committed to engaging with our clients to shape better, digitally-enabled ways of working that elevate the entire ecosystem.
Speak to an Expert
Let us help you secure access to the standardized data you need to enhance process efficiency and embrace data-driven decisions.
At Veson, our clients represent a significant portion of global trade. Following are some members of our client community who have successfully embraced the Veson IMOS Platform (VIP) to establish a single source of the truth and enable data-driven success.
An innovative dry bulk shipowner-operator, Eagle Bulk believes that investment in technology improves understanding of key decisions, enhances collaboration, and yields meaningful business results. The company intends to position itself to succeed and lead in an increasingly digital world. That’s why Eagle Bulk Shipping made the switch to VIP.
Read the Success Story
VIP enables faster decision-making, allowing the Bahri team to complete daily tasks more efficiently. Enhanced automation helps the team leverage historical data to inform future decisions. Integration capabilities provide the opportunity to easily incorporate third-party systems into one standard workspace.
As the world’s largest independent pool and commercial management company, Navig8 needed a solution that would repair and modernize its existing workflows and empower its team to deliver maximum value to its clients and pool partners. That’s why it partnered with Veson Nautical.
Brought to you by our team of subject matter experts.
John Veson CEO
3 Minute Read
Eric Christofferson Chief Product Officer
2 Minute Read
Meagan Eccleston Content Marketing Senior Specialist
1 Minute Read
It is estimated that the maritime shipping industry generates roughly 100 to 120 million data points every day from a variety of sources. Unfortunately, this data often comes from systems and stakeholders that do not transmit information in the same format. As a result, this data is difficult to organize and leverage to conduct meaningful analyses.
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Veson delivers more than a market-leading platform. Our partnership can help you standardize data in a scalable way.
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How many voyages do you manage per month? *1 - 10 voyages11 - 30 voyages30+ voyagesMy company does not commercially manage voyages
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How are you involved in the shipping industry?
BargingContainerData AnalyticsDry - Breakbulk / Heavy LiftDry BulkLNGLPGOffshore Supply VesselsOtherTanker - ChemicalTanker - CrudeTanker - Product