costdata opens the first online shop for market data worldwide

costdata hits the nerve of the time with the world's first online shop for industrial market data. Although it was already possible to get access to extensive databases or single compiled datasets, this turned out to be costly and above all very time-consuming. The new platform makes it possible to obtain the desired data almost in real time. For each of the more than 3,000 regions, 10 wage and salary levels are available for 15 sectors, including all ancillary personnel costs as well as location cost factors such as prices for electricity, water, steam, compressed air and cost of premises. In addition, there are over 28,000 raw material prices, more than 11,500 machine data with prices and a comprehensive range of overhead factors.

At costdata, the world's largest provider of cost data, we are aware of the importance of industrial market data. For more than 20 years now, the company, which has made a name for itself mainly with calculatory software solutions and consulting services, has been collecting all the data necessary for cost analysis. But what exactly are these data needed for?

Due to the increased price and cost pressure in almost all industries, more and more companies are demanding ever more detailed cost breakdowns, both internally and from their suppliers. Today, many companies calculate not only the costs of their own products, but also those of their suppliers. This development, which began in the automotive industry three decades ago, is now an integral part of a large number of companies in the manufacturing industry. "Nowadays it is no longer enough to ask for three offers and decide for the cheapest one", explains Frank Weinert, founder and managing director of costdata GmbH. Why is it clear: "Just because an offer is supposedly the cheapest does not mean that it is fair and best for both sides", the former buyer continues. Complete cost transparency is required to gauge this market attitude and subsequently negotiate better. And in return it requires one thing above all: accurate data. 

Although software programs for cost calculation have now largely replaced the self-built Excel spreadsheets and worn out reference value booklets, these need to be fed with input. "The accuracy of a calculation stands and falls with the quality of data. If the wrong figures are used from the outset, it does not matter how much expertise the user brings to the table or how sophisticated his calculation tool is," says Weinert. This should now come to an end: "Of course we are happy if even more companies decide to use our software, but our main concern is to create transparency in the entire value-added chain, regardless of which program is used". This is exactly what the new online shop for market data is designed to achieve: by using the market data as a comparison to the actual cost calculation can the competitiveness in your own company and that of your suppliers be checked.

Finally, costdata offers its customers a guarantee for data accuracy: if the purchased data should demonstrably differ from their actual values, the customer will get money back immediately.