The first mention of a crystal ball was by the Roman philosopher Pliny the Elder when he described how the Celtic Druids practiced divination. Since then, folklore has described the crystal ball as a powerful tool to peer into the future, to see mysteries associated with the past, or to see the present in far away lands. The latter was demonstrated most famously in The Wizard of Oz when the Wicked Witch of the West used a crystal ball to track Dorothy and her friends’ whereabouts as they traveled down the Yellow Brick Road. 

In my conversations with Glowlit users, I’ve often heard purchasing managers describe their desire to gaze into a crystal ball in order to understand what will happen with the future price of a product that they need to buy today. Should the product be purchased now or later, in small quantities or large, spot or contract? All these questions would be greatly aided by a magical crystal ball, and many market intelligence companies sell their service as one.

These consulting companies undoubtedly know the industry well, relying on information gathered from their network and gut instinct derived from decades of experience. Their method is a critical part of our industry and has proven itself in the past, however as I’ve previously mentioned, it has serious drawbacks. Even when right, we must keep in mind that in regards to price analysis, their predictions are merely a decisive guess.

Glowlit is a different kind of crystal ball, more akin to the ability to see down the Yellow Brick Road. It allows users to see prices in real-time all over the world. By looking at the current price at the origin of the supply chain, purchasing managers can understand a great deal about the price of their goods in the future. And unlike Professor Sybill Trelawney, whose poor grasp of her gift for divination led to misinterpretation, Glowlit is never based on one clever analyst.

Guy Soreq

Founder and CEO of Glowlit.com

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.