Kuehne + Nagel recently announced its approach to digitization and introduced a new product, gKNi, which is based on logistics data and predictive analytics.

The global logistics company aims to leverage its logistics competence and innovation power through a digitization approach focusing on digital readiness, digital products, and a venture platform.

Kuehne + Nagel’s digital readiness consists of globally advanced data structures and processes as well as standard interfaces ensuring instant and seamless connectivity for improved customer service. In combination with its global standard operating systems, Kuehne + Nagel is able to quickly respond to market requirements and to shorten the time to market for digital products and solutions.

Kuehne + Nagel already launched KN FreightNet, a digital product providing instant quotation, online booking, and track and trace for air and sea shipments. As part of its venture platform Kuehne + Nagel engages with startups and explores and generates itself new business opportunities broadening its digital offering and customer base.

“Using our core competence and scaling-up our digital mind set, especially in the area of data management and analytics, we develop pioneering products that bring additional value to our customers,” said Detlef Trefzger, CEO of Kuehne + Nagel Group. “We consider digitization not as disruption, but as part of our ongoing business evolution. Thus it enables us to continuously deliver innovative solutions that matter for our customers.”

Building on its digital readiness, product development capabilities and logistics market intelligence, Kuehne + Nagel created the “gKNi trade nowcasting.” gKNi stands for “global Kuehne + Nagel indicators” and provides estimates for key economic figures, such as trade balance and industrial production, based on Kuehne + Nagel’s insights into markets and data of global trade flows.

This product is an initiative of the company’s venture platform utilizing in-house developed technology to combine big data with data-mining, automation, and predictive analytics. gKNi delivers early insights into the very recent past, the present, and the very near future of economic development up to 55 days earlier than other estimates on trade related indicators. It is available via subscription and targets Kuehne + Nagel’s logistics customers, corporations, governments, banks, and investors facilitating their decision making.