Maritech expands analytics capabilities for seafood companies with the launch of new embedded BI tools
Maritech continues its investment in areas such as data discovery and especially operational intelligence, strengthening its offering for the seafood sector with the launch of a targeted BI product with predefined content, formatted and ad hoc reporting, dashboarding, analysis, data mining, planning, and self-service BI/data discovery.
Maritech, a recognized leader in software solutions for the seafood sector, today announces the availability of enhanced analytics tools, using embedded Microsoft Power BI, intended for current users of Maritech Trading. The new analytics platform gathers together data from all areas of Maritech Trading, including financials, sales, purchases, inventory, and selected external sources such as the Nasdaq Salmon Index and others. The package comes with a set of standard, industry-specific reports and KPIs as well as the ability to customize and fine-tune analyses, providing unique insight to seafood companies in setting market and pricing targets and in implementing other performance improvement measures. As Janne T. Morstøl, CEO of Maritech, explains:
“Our customers are surprised at how much data they actually have. The question is, are they collecting and processing the data in a way that is useful and immediately visible to managers and staff? All seafood companies generate large amounts of data through production, processing, transportation and trading. Taken together, the data holds valuable insight into the company’s operation, its markets and customers. However, since the data is typically stored in different databases and systems, the massive amount of manual work needed to extract, analyse and report the data is a practical block to utilizing its full power.”
Early adopter and development partner utilizing the solution is Coast Seafood. The objective of the development partnership has been for Coast be able to reduce time spent on producing and preparing reports and to increase operational insight, while improving decision-making capabilities. “We have so far seen substantial savings in time spent on gathering, analyzing and reporting of data, and moving forward, we expect to achieve more benefits from the insight and analysis the solution provides” says Coast CFO Frode Melsether.
Maritech has established a new Analytics team that will help its customers in setting up an analytics solution tailor-made to their needs. “It is our belief that when tools are easy and intuitive to use, companies can move past basic BI capabilities and use information and data to become highly effective at getting the job done, whether it is detecting abnormal patterns in fish attributes or better predicting retail demand matched to projected fish availability and price forecasts”, says Analytics Manager Oddvar Husby. Maritech’s new BI tools, marketed as DGS Analytics, form part of the company’s cloud-based DigitalSeafood suite and will be initially rolled out to existing Maritech Trading customers in Europe before being extended to being available in all geographies.