The Benefits of Partstat’s Open-Source Big Data Platform
So much of what Partstat offers our users is rooted in our access to Big Data. As an acclaimed Big Data platform, we consist of, as of this writing, over 9 billion rows of current and historical data on 20 million parts sourced from over 3,000 unique manufacturers.
In our BOM Monitoring Solution, Partstat provides the foundation for our ability to not only monitor for obsolescence in critical electronic components, but also predict allocation and confirm component lifecycle status to help ensure a consistent, transparent flow of inventory from OCMs and authorized channel partners.
On the other end of the product lifecycle with our Excess Inventory Solution, Partstat allows our customers to understand real-time market conditions for each part such as current global availability, lifecycle status, and factory lead times – each of which impacts the part’s maximum resale value on the open market.
Whether our customer’s product is still in the design phase or approaching end-of-life, the Big Data provided by Partstat remains an invaluable resource. But what is the distinguishing feature that makes our Big Data platform so unique, and so successful compared to other platforms available in the supply chain marketplace?
The answer is simple: Unlike similar offerings, Partstat is an open-source platform available to buyers and sellers completely free of charge.
Most Big Data platforms are quick to cite their scale to potential users, highlighting the number of participating suppliers and components available to search. But such statistics usually come with a caveat — these figures consist of suppliers and active users within a closed, gated digital ecosystem. Not only will you have to pay a fee to use their product and take advantage of the Big Data they offer, but your analysis of the open market will be restricted only to what other paying subscribers are willing to share. Such data can be useful, but if your goal is to, for example, price your bill of material within a real-time model, your view of the market will remain limited and incomplete.
To get the most accurate view of the state of the market, there can be no boundaries. As a public offering with an open gate, Partstat was conceptualized from the very beginning as a way for manufacturers to acquire a more complete picture. At no cost, suppliers are encouraged to upload what they want, as often as they want, to a buyer ecosystem limited only by the size of the market — not by a paywall restricted to those willing to pay.
Our open platform concept also gives us an unrivaled ability to market excess inventory on behalf of our customers. Without the inherent restrictions of a closed ecosystem, Partstat is capable of indexing inventory on all the major search engines including Google, Bing, and Yahoo. This ensures that if there is a buyer in the market for your component, Partstat will find them – whether they actively use our platform or not. For any manufacturer looking to rid themselves of excess inventory in a quick, cost-effective manner, this is an invaluable feature.
If our rapid growth is any indication, the manufacturing industry seems to agree with our Big Data model. With over 600,000 active users and 23,000 daily searches, Partstat has quickly become one of the manufacturing industry’s premier sources for the buying, selling, and pricing of critical electronic components, semiconductors, and peripheral products.
But despite such success, we have never strayed from the free, open source concept. A platform without boundaries or gates reflects our belief that humanity’s capacity for innovation knows no limits. That will never change. The sky, for Partstat and the hundreds of thousands of users that have discovered our value, will forever remain the limit, and we can’t wait to see what our solutions help bring to the marketplace next.