The global maritime analytics market is expected to rise from USD 993.39 million in 2021 to over USD 2,150.88 by 2028, with an estimated growth of 11.73% CAGR in the period. However, the current challenges in the market threaten to prove this estimate wrong too. In Q3-2022, the marketing took a sharp descent and transportation rates were affected, as a result of the looming recession. As a consequence, freight companies struggled with higher inventories after preemptively ordering additional products, when the market demand was high. Now, the same companies are struggling to manage their inventory and find warehouse space for storage.
So, as freight rates stabilized globally, the volatility of consumer demand continues to create problems on the supply chain. The recent Russia-Ukraine conflict also created additional challenges for industry players, small and large. Besides causing a worldwide upheaval in oil and fuel prices, it also disrupted marine operations significantly. Fortunately, Soshianest Enterprise Miner Inc has arrived with the best solution at the right time.
Using cutting-edge technology and advanced techniques, Soshianest Enterprise Miner Inc is able to accurately predict highly volatile maritime market rates.
Soshianest designs and uses innovative deep machine-learning tools and techniques to develop unique algorithms. These can effectively forecast maritime market rates, even in the most volatile environment, with extreme accuracy. The company provides an advanced platform for marine merchants and freight consumers alike, which is easy to use and offer ad-hoc reports that give future trends, including employing data mining and analysis.
With the help of advanced AI technology, Soshianest Enterprise Miner Inc. is able to provide enhanced algorithms with optimization models (Genetic Algorithm) to help develop supervised, training-centered precise predictive data-models.
The advanced AI solutions offered by Soshianest include a few hundred fundamental drivers, chosen from the supply and demand side of the market. These help to reveal historical relationships between the industrial-related factors and also provides forecast for different time-periods, from short-term to long-term. Besides this, their solutions also support strategic decision-making for all stages of freight and transport, right from building, operations, maintenance and recycling. Customers can effectively outsource this process and save time and resources of the stakeholders. The team of expert analysts at Soshianest handles the expensive and complicated department and specialties required for predicting market conditions.
Soshianest helps customers to convert their investment into significant ROI through predictive analysis, which not only describes the current scenario but also predicts future trends effectively.
Predictive analysis is steadily becoming a must-have solution in marketing analytics. It does more than describe consumer behavior and also predicts how consumers will behave in the coming time, through deep-machine data analysis. Predictive analysis is usually of three main types – descriptive, predictive and prescriptive. Soshianest is heavily focused on predictive analytics. As the name implies, predictive analytics is meant to predict the future, while descriptive analytics described the past, and prescriptive analytics help to design the best plans, according to future predictions.
Many freight companies today find it tough to implement descriptive analytics and hence are facing enormous challenges to adopt it. The lack of data and skills required to analyze is limited to a small number of experts and scientists. These experts too often lack the conceptual experience to find relevant statistics, when it comes to determining consumer behavior.
There are numerous major benefits of predictive analytics, as offered by Soshianest. Firstly, businesses that adopt predictive analytics into their regular operations experience a distinct improvement in their business processes. They also get enhanced decision making abilities and are also able to direct, optimize and automate decisions based on demand. It can successfully help companies to meet their SPSS. Business that integrate predictive analysis into their daily operations improve not just the process, but also enhance decision-making and gives the ability to direct, optimize and automate business decisions too, which is extremely effective to meet defined business goals.
According to surveys, around 86% of executives who are involved in predictive marketing activities for past two years report increased ROI through predictive marketing. Businesses that use predictive analysis to make decisions earn around 220% higher ROI than those that don’t.
Predictive analysis has numerous other benefits. For instance, businesses can use predictive analytics tools to make investment decisions, such as ordering a new ship, or chartering one. With the help of predictive analytics solutions, companies become more efficient at anticipating the future which results in increased profits, and not only for ship owners who use the tool for forecasting business trends.
A predictive analytics tool also helps bankers to make better lending decisions. Using this tool, shipyards can develop better and more efficient designs for cargo ships, engineering companies can create quick-selling equipment while rating agencies can calculate the risk of default on a bond. The technology also helps post to develop their facilities in a better way to accommodate the fluctuating demand. The tool analyzes key principles and basic elements of the industry that is useful to determine if a prediction is useful as a Relevance, Rationale or Research.
In short, the analytics tool helps to showcase important aspects of the business that the decision-maker is looking for, besides highlights compelling reasons through careful research.
Business experts know that information reduces uncertainty. Researching major variables is extremely important to ensure that the model based on quantitative research can be applied in different cases. It is extremely important to identify the underlying economic model of the process as this determines the type of information to gather and analyze.
Soshianest solutions provide a market report which contains enough information for the client to form their views about the future of the market. There are different types of risks involved in maritime operations and remain one of the most unpredictable factors that affect the favorable development of the market. With the help of predictive analytics tools, business owners can not only understand what is happening, but are also able to determine what will happen, using a structured approach. The predictive analytics model considers all relevant market drives and constantly updates the model to make it easy to use. Companies choose to outsource data mining and analysis to experts like Soshianest, as it helps to save their time and effort significantly.
For the coming years, Soshianest envisions to be the global leader in market trends analytics and business forecasting. It aims to work even more closely with decisions makers to help identify and address their individual requirements and demands. It plans to continue in-depth research, develop and improve algorithms for maritime industry, besides expanding to all transportation sectors.
Soshianest Enterprise Miner Inc. provides cutting-edge market analysis and prediction tools. The company has been engaged in developing improved data collection and analytics tools that help maritime businesses to not only understand current market scenario but also predict future market trends with utmost accuracy.