General

1. Utilizing Big Data to Innovate Logistics Forms

In the context of big data, in order to address the challenges brought by international trade, it is necessary to use big data to innovate logistics forms. In the process of international economic and trade, logistics is essential, and among all types of international trade logistics, there are mainly shipping logistics, land logistics, and port logistics. Currently, research shows that the payment costs of international shipping exceed $1 trillion annually worldwide, with logistics costs accounting for over 25% of the total. From this perspective, only by reducing logistics costs can the financial consumption of enterprises be reduced. In the context of big data, enterprises should utilize big data and build supply chain platforms based on it, while integrating shippers and freight forwarders. After the logistics data is integrated to a certain extent, an innovative logistics model can be formed. This logistics model can save economic costs for enterprises and promote better development of international trade. For example, in traditional international trade, logistics entities have independence, and in the context of big data, a community of interests is formed between enterprises, thereby reducing their production costs. In summary, utilizing big data to innovate logistics forms is an important measure for international trade to address challenges.

2. Utilizing big data to carry out information-based international trade

In the process of addressing international trade challenges, in addition to utilizing big data to innovate logistics forms, it is also necessary to carry out information-based international trade. In previous times, information and data in international trade were hidden, but now, information and data have begun to have the characteristics of transparency. It is precisely because of the openness of data that the development of international trade has shown new vitality. Based on the current characteristics of international trade, it is necessary to combine actual situations and needs to carry out information-based international trade. The background of big data provides enterprises with good opportunities to obtain data information. Therefore, only by continuously improving the level of informatization can we understand the actual situation of international trade and make accurate judgments, thereby reducing trade costs and improving the development level of international trade.

3 Use big data for Financial innovation

Utilizing big data enables innovation in finance, which is also an important foundation for the development of the international trade industry. Various financial institutions need to support international trade in order to provide assistance for its development. At the same time, international financial institutions have always played a role as bridges in international trade. Financial institutions have a significant advantage in customer data in practical situations, and mastering this advantage is equivalent to promoting trade development. In such a situation, applying big data to the international trade industry also has obvious advantages. Financial institutions can explore the actual needs of customers based on financial data, and using big data to innovate finance can indirectly improve the profits of enterprises and lay the foundation for international trade. In a word, in the future development, how to use big data to continue Financial innovation should also become one of the research directions of each enterprise.