Get ready for a data explosion! By 2023, we’ll create a staggering 120 zettabytes of data, skyrocketing to over 150% growth in just two years, reaching 181 zettabytes in 2025 (Statista). This data deluge is pushing businesses to harness the power of data integration more than ever before. The demand for business data integration services is soaring, with the global market size projected to leap from $13.20 billion in 2023 to a massive $30.21 billion by 2030. And it doesn’t stop there – the Data Integration Services Market is predicted to hit an impressive USD 30.22 billion by 2030, boasting a CAGR of 11.9% between 2023 and 2030 (Fortune Business Insights, Nextmsc).
The Need For Data Integration Competence.
In the last couple years, I have written multiple articles on the importance of data integration in supply chains. Indeed, it’s a crucial factor for supply chain leaders to unlock innovation. One of the biggest challenges is data interoperability. Namely, the ability of different information systems, devices, and applications to access data. Moreover, for supply chains to survive, they need to exchange, integrate, and cooperatively use data in a coordinated manner, within and across organizational boundaries.
My advice to supply chain leaders on data integration is 3-fold. First, master data analytics to improve and optimize decision-making. Indeed, supply chains are all about problem solving and you need good data to do that. Second, supply chain leaders need to adopt a data-centric mindset. Today, data is a strategic, permanent asset for businesses to leverage and enhance. Indeed, data is no longer a by-product and it is time for businesses to stop being application-centric. Lastly, for many businesses that do not have the technical management know-how to lead a data integration project, consider leveraging a 3rd Party Logistics (3PL) provider’s technology capabilities.
To sum it up, an effective data integration capability enables supply chain leaders to drive innovation, agility, and effective decision-making. In particular, carrier invoice data is a key data source for both shipping and financial analytics.
So, how can a shipper get access to their carriers’ invoice data by partnering with a data integration service provider?
Here Is How – ShipLab, A Parcel Invoice Tech Integrator.
This company specializes in streamlining the process of retrieving, organizing, and archiving carrier billing shipment data, especially U.S. and Canadian parcel carriers. As many of you know, this can be a very manual process, time-consuming, and prone to errors.
Indeed, ShipLab has developed a solution that automatically collects invoice data from your carriers, making it readily available in a turnkey data lake. This data can then be integrated into your existing tools and is accessible 24/7.
So my advice to shippers is to get a data-centric mindset. To do this you need to get both visibility and control of your data. A great place to start is with your carriers’ invoice data. ShipLab enables shippers real-time access to crucial shipping data. Further, this data is yours to keep. Thus, enabling accessibility and automation to improve efficiency that leads to cost savings and better decision making.
ShipLab is led by Ryan Butcher, a parcel data leader and Inc500 entrepreneur. Shiplab’s proprietary platform automatically retrieves, catalogs, and delivers invoice data from parcel and regional carriers in the U.S. and Canada to include FedEx and UPS. Its data pipeline seamlessly integrates to cloud-base storage providers such as AWS, Snowflake, and Google Cloud.
Greetings! As an independent supply chain tech expert with 30+ years of hands-on experience, I take great pleasure in providing actionable insights to logistics leaders. My background includes implementing 100s of innovative solutions using emerging technologies and a data-centric development approach. I have also provided business intelligence (BI) solutions for 1,000s of shippers. For more about me, click here.