{"id":3329,"date":"2020-11-23T15:51:49","date_gmt":"2020-11-23T15:51:49","guid":{"rendered":"http:\/\/www.factorydata.com\/?p=3329"},"modified":"2020-11-23T15:51:49","modified_gmt":"2020-11-23T15:51:49","slug":"vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex","status":"publish","type":"post","link":"https:\/\/www.factorydata.com\/en\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/","title":{"rendered":"Why your vision of the market for the Industrial, Agricultural and Marine segments is INCOMPLETE, IMPRECISE and COMPLEX?"},"content":{"rendered":"

We have spoken many times about the vast quantity of data which exists in the auto parts sector and the fact that new data is constantly appearing<\/strong>.<\/h4>\n

But, when we focus on specific application segments like the industrial, agricultural<\/strong> or marine<\/strong> sectors, among others, the complexity deepens<\/strong> until neither the common data structuring mechanisms, nor the traditional product analysis tools we use, can help us out.<\/h4>\n

\"Special_segments\"<\/p>\n

Obviously, in order to analyse any application segment, we need to have data on all existing products<\/strong>.<\/h4>\n

\"Sistemas_Data_Gathering\"<\/p>\n

Companies, whether manufacturers or distributors, create their own reference numbers codifications<\/strong> used to define the universe of products they want to work with and\/or analyse<\/strong>. These individual codifications organise the thousands of existing products and millions of OE, OEM and IAM reference numbers through two distinct data structures<\/strong>:<\/h4>\n

1) Applications<\/strong>. The company\u2019s own codes are associated with a standard vehicle park definition, where we can also find links to other OE, OEM and IAM references.<\/h4>\n

\"Applica_tree<\/p>\n

2) Equivalences<\/strong>. The company\u2019s own codes are linked to the OE, OEM and IAM references intended to be organised.<\/h4>\n

\"Codification_graf<\/p>\n

 <\/p>\n

Most companies maintain both data structures<\/strong>, although some only define equivalences. Either way, an enormous quantity of human resources and time must be employed to keep these data structures up to date<\/strong>.<\/h4>\n

These data structures are incredibly important, as they are used continually in all search and analysis processes performed at every company<\/strong>.<\/h4>\n

But, what structural problems<\/strong> do these data structures present when we want to analyse very specific application segments<\/strong> like the industrial, agricultural or marine sectors?<\/h4>\n

1) Applications<\/strong><\/h4>\n
    \n
  • \n

    There is no universal vehicle park which defines all applications. This makes it impossible to detect all existing products via applications.<\/h4>\n<\/li>\n
  • \n

    We fail to know the application of many reference numbers, which means many products cannot be analysed based on their applications.<\/h4>\n<\/li>\n
  • \n

    A single reference number may be associated with multiple applications and a single application with multiple reference numbers, which produces many imprecisions.<\/h4>\n<\/li>\n<\/ul>\n

    2) Equivalences<\/strong><\/h4>\n
      \n
    • \n

      No existing codification relates more than 60% of the total OE\/OEM\/IAM reference numbers on the market. Thus, the analysis based on a single codification is always limited.<\/h4>\n<\/li>\n
    • \n

      Every codification uses different reference number grouping criteria, which makes it enormously difficult to combine them in an effort to widen the analysis.<\/h4>\n<\/li>\n<\/ul>\n

      For all these reasons, obviously, then, all companies have a vision of data which is<\/strong>:<\/h4>\n

      INCOMPLETE, IMPRECISE AND COMPLEX<\/strong><\/p>\n

      \"Demand<\/p>\n

      And now that we know the limitations of these data structures when it comes to analysing the market, we might want to ask ourselves: is there any mechanism that could help us analyse all existing products on the market in a COMPLETE, PRECISE and SIMPLE way<\/strong>?<\/h4>\n

      The answer is, yes. Factory Data has designed a disruptive technology<\/strong> capable of solving these structural data problems.<\/h4>\n

      The solution consists in separating ourselves completely from the application data structures<\/strong>, which we have already identified as being not only imprecise but, above all, incomplete<\/strong>, and replacing them with a method that combines the equivalence-based data structures from all the main providers in the market via an proprietary clustering algorithm<\/strong>, thereby supplying the most complete vision possible of all existing knowledge.<\/h4>\n

      This totally new data structure<\/strong> enables us to offer disruptive services like demand analysis<\/strong>, calculated with maximum precision, on products from any application segment but, in particular, for the industrial, agricultural<\/strong> and marine<\/strong> sectors.<\/h4>\n

      In the next article we\u2019ll explain in more detail how this data structure works and why it provides us with a vision of the market that is: COMPLETE, PRECISE and SIMPLE<\/strong>.<\/h4>\n

      By Joan Cab\u00f3s
      \nCEO & founder<\/p>","protected":false},"excerpt":{"rendered":"

      We have spoken many times about the vast quantity of data which exists in the auto parts sector and the […]<\/p>","protected":false},"author":1,"featured_media":3317,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[20,26],"tags":[110,148,16,146,24],"class_list":["post-3329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-neo-en","category-pfcode-en","tag-big-data","tag-codification","tag-market-expert","tag-neo","tag-pfcode"],"yoast_head":"\nWhy your vision of the market for the Industrial, Agricultural and Marine segments is INCOMPLETE, IMPRECISE and COMPLEX? - Factory Data<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.factorydata.com\/en\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why your vision of the market for the Industrial, Agricultural and Marine segments is INCOMPLETE, IMPRECISE and COMPLEX? - Factory Data\" \/>\n<meta property=\"og:description\" content=\"We have spoken many times about the vast quantity of data which exists in the auto parts sector and the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.factorydata.com\/en\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/\" \/>\n<meta property=\"og:site_name\" content=\"Factory Data\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-23T15:51:49+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.factorydata.com\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.factorydata.com\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/www.factorydata.com\/#\/schema\/person\/fbca8db3b55bdcaf22b4d2ecc9ce1f6e\"},\"headline\":\"Why your vision of the market for the Industrial, Agricultural and Marine segments is INCOMPLETE, IMPRECISE and COMPLEX?\",\"datePublished\":\"2020-11-23T15:51:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.factorydata.com\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/\"},\"wordCount\":610,\"publisher\":{\"@id\":\"https:\/\/www.factorydata.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.factorydata.com\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"Big Data\",\"Codification\",\"market expert\",\"NEO\",\"pfcode\"],\"articleSection\":[\"NEO EN\",\"PFcode\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.factorydata.com\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/\",\"url\":\"https:\/\/www.factorydata.com\/vision-market-industrial-agricultural-marine-segments-incomplete-imprecise-complex\/\",\"name\":\"Why your vision of the market for the Industrial, Agricultural and Marine segments is INCOMPLETE, IMPRECISE and COMPLEX? 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