Data is a primary building block for all of Forest2Market's Delivered Raw Material Benchmarks. We adhere to strict and consistent standards in the collection, quality control and security of this data.
For our delivered benchmarks, data is collected at the transaction level on a load-by-load basis. Forest2Market subscribers either use Forest2Market-enabled software to upload their data or they extract it from their systems and submit it electronically. Once the data is in a Forest2Market database, we run a series of statistical quality checks to make sure data is consistent with the participating facility's historical records and our confidence and quality standards. Ninety-eight percent of the data collected meets these standards.
Participants are required to report 100 percent of their transactions. Because we collect data from both buyers and suppliers, we can confirm the accuracy of reporting. If inconsistencies are found, a market analyst contacts the participating facilities for clarification. In addition to Forest2Market's strict data quality checks, an independent accounting firm audits participant submissions annually. Our goal is to prevent attempts to manipulate data and therefore the market. As a result of these efforts, the data reported by Forest2Market is always true to market.
Forest2Market takes extraordinary measures to keep all data confidential and secure.