Methodology
Data collection methodology refers to the systematic approach used to gather information or data for a research study or analysis. The choice of data collection methodology is crucial as it directly impacts the quality, reliability, and validity of the data collected.
Our Principles
Reliability and Consistency: Our methodologies have been meticulously crafted through extensive research and analysis of diverse markets. We maintain a strong connection with the market and regularly seek insights from industry experts and various market players to ensure consistency. These well-established methodologies have been consistently applied over time to conduct numerous statistical assessments.
Impartial Approach: We uphold complete independence and objectivity in our price assessment process. Our analysts have no personal stakes in the price outcomes, and we enforce a strict Compliance Policy to ensure impartiality in their work. Our Compliance team ensures adherence to our policies and procedures, including verifying compliance with published methodologies.
Continuous Market Research: We closely monitor various markets and stay updated on all market developments to ensure our methodologies accurately reflect current trading practices.
Regular Data from Buyers and Sellers: Our price assessment considers data from both buyers and sellers, focussing on the significance of both perspectives for an accurate representation of market activity. We also take into account data from both large and small market participants.
Transparent Approach: Our methodology is open for examination, and we encourage feedback to enhance transparency and efficiency in physical commodity markets.
Data Collection & Verification Process
We gather information from a diverse range of market participants, including producers, end-users, and intermediaries, which is a key aspect of our price assessment process. This approach ensures that no single side unduly influences the process. Our analysts are encouraged to collect a wide variety of market data, encompassing concluded transactions, firm bids, firm offers, and indicative bids and offers.
Analysing Market Conditions: To gain a precise understanding of a particular market, our analysts conduct a comprehensive analysis of environmental factors, market trends, and other relevant elements that could impact commodity prices.
Data Verification: Our team of experts meticulously examines all the market data submitted for the price assessment. We employ the highest level of diligence to scrutinize and verify the data. Our analysts are well-trained in utilizing various tests tailored to the specific methodologies employed for each commodity.
Price Derivation: Our analysts are required to clearly articulate the reasoning behind the final assessment price. They meticulously document the factors taken into account during the price assessment process, providing detailed information on the weightage assigned to various market data types, such as transactions, bids, offers, and more. We process all the price data of a commodity rigorously with statistical formulas before deriving the final commodity price trend.
Our team of seasoned professionals brings extensive experience from renowned companies, enabling us to deploy both best-in-class and cutting-edge research techniques. Through this expertise, we deliver the strategic insights to our clients. Our analysts are trained to expand their data sources and continuously seek to involve more companies/individuals willing to provide market data.