Why Transparency Matters?

June 23, 2020

Author: Guy Soreq

The advent of the printing press in the 15th century sparked an information revolution that transformed humanity. For thousands of years since the advent of writing, texts were laboriously written by hand. Securing a copy was an arduous and expensive process, and the result was often riddled with inaccuracies. With the introduction of the printing press, books, pamphlets, and documents of all types could be distributed broadly. Suddenly, common people had access to a trove of information that had previously been reserved for the elite. Knowledge and communication spread at a pace never before seen in human history, and as a collective, human beings became smarter.

The Digital Age has brought about another revolution in communication and the democratization of data, and we are among the lucky generations of history to watch it unfold. We started Glowlit because industrial supply chains represent one of the last remaining systems still completely reliant on a one-to-one form of communication. In the animal feed industry, we are still accustomed to picking up the phone to check on the price of a material. This means that the data our industry needs to be most effective is locked away, relegated to email conversations, annual meetings at conferences, and requested quotes. It is arduous and expensive to secure, and often riddled with inaccuracies.

Here at Glowlit, we are big believers in the transformative power of networks to facilitate information sharing, and ultimately increase market transparency. So much so that we actually share information about our information. When you view a price report on Glowlit, you’ll see exactly the number of deals that go into a given chart. As a Glowlit user, you can even scroll over our interactive charts to see exactly how many deals make up each point on the chart. We’re not here to hide behind vague figures or expert opinions. We strive for complete transparency while still protecting the anonymity of our users.

Ultimately, we want each user to be empowered to understand the relevance of the data to their work. We’re confident in our approach because we know that the quantity and granularity of the data in the Glowlit platform is currently unrivaled in the market. Because we are not a marketplace, we see our role very clearly as an intermediary whose only interest is in ensuring that the information in Glowlit is a true reflection of the market. We’re working toward greater market efficiency by supporting better business decisions and improving trust, and that makes us all a little bit smarter.