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Artificial Intelligence and Machine Learning Are Unlocking a Treasure Chest of Insights


D


ata science is going to change your world. This is not something that will begin to happen in a few years; it’s happening now. The insights that


data science brings to the freight transportation industry are simply too big to ignore. For example, it is currently possible to focus attention on relevant information concerning market rates and margins in order to take actions that directly boost profit.


McLeod’s Data Science Team is using artificial intelligence and machine learning to enhance our software products so that LoadMaster® and PowerBroker® users can be given new ways to improve their businesses. We have already found ways to analyze rate data so that you can see in an instant which lanes are the best and the worst in real-time. Our work with rate analytics is groundbreaking, but we’re only getting started. We’ll be extending our efforts to other areas to provide what our customers tell us they need.


The Power of MPact™


MPact is Market Insight 2.0. It’s compatible with most versions of LoadMaster and PowerBroker, and it’s available to all McLeod users who participate in the Market Insight program. The MPact dashboard presents data analytics within a context that makes it easy to digest. You don’t have to be a data scientist to comprehend this analysis. No special training is required to manipulate the data and make sense out of it.


From the home page, you can see spot market rate data from a variety of perspectives. This powerful tool draws up a database that covers lanes all across the country and sifts through the data to find information that will empower decision makers at your company to take positive actions. You can immediately view the industry’s top and bottom performing lanes.


Data analytics also allows you to evaluate the rates in any specified lane. MPact creates a rate spectrum that shows you the rates at the quartile boundaries in addition to the maximum, the minimum, and the average. In lanes you’ve run before, your own rate history can be compared to the rate spectrum.


By showing you how rates change in time, MPact helps detect seasonal patterns and recent trends. You can view today’s rates against the rate history for a lane and see instantly if a rate is going up, going down, or holding steady.


Searching for Answers to Vital Questions


Our data science efforts are guided by the questions that McLeod customers want answered. Here are some examples:


SCIENCE HAS ARRIVED


MCLEOD INSIGHTS THE NEW WORLD OF DATA


Should we broker this load or put it on one of our trucks?


This is the age-old question for asset-based companies that also broker loads. The answer can be affected by an assortment of market conditions and can change quickly. Our analysis can show you specific lanes where you’ll gain or lose by using your own trucks.


24 A CHIEVE MORE


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