How quickly do changes in capacity translate into changes in rates?

Customers are slow to raise their rates when capacity tightens and quick to lower them when capacity expands, but our analysis reveals a lag between market rate changes and capacity fluctuations. Knowing when this opportunity presents itself allows you to profit from it in near real time.

is money in trucking, so a deeper analysis of dwell time is bound to reveal some valuable insights.

Combing Analytics with Automation

Our goal is not simply to provide answers to the questions, but to combine analytics with actions and to push timely information out to our customers. We are working with McLeod’s FlowLogix tools to create methods of delivering insights to you as you need them.

For example, think about the question mentioned earlier about deciding whether to broker a load or put it on one of your assets. If our data analysis discovers that the rates in a certain lane are spiking, we can send out a notice to you. Say that you have some trucks that could haul loads in that lane. In that case, you may suddenly want to broker some loads that you had already assigned to those trucks so that these assets can be put to use immediately on this high rate lane.

Tools that Everyone Can Use and Delivery Formats that Can Be Customized

The goal of the Data Science Team is to give you tools that you can use easily. We’re doing the heavy lifting, so that you can access and comprehend information easily. No one needs a data science degree or IT expertise to understand how to use these analytics.

We also want to provide options that allow users to filter and customize the content. For example, if you want data broken out for carrier or trailer type, we’ll provide filters that allow you to specify the information type you need, with more options on the way.

Get Ready for the Data Science Era

How does length of haul affect a carrier’s profit margin?

We know that length of haul has a role to play in profitability. We’re studying that and will be able to offer perspectives as our work continues.

What impact does dwell time have on costs?

As the industry has moved to electronic logging devices, managing your drivers’ time is more critical than ever. The focus is shifting from cost-per-mile to cost-per-hour. Time

By Barry Brookins, McLeod Director of Data Science and Criss Wilson, McLeod Data Scientist

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The freight transportation industry is embracing this new era of reliance on data science. Changes are already happening, and the rate of change will accelerate. This will affect carriers, brokers, and logistics companies of all sizes — and the larger companies do not necessarily have an advantage. Data science will empower you to act quickly, and that is the key. It’s the nimble companies that will thrive. Use the real-time insights to make decisions quickly, and you will see profits climb. It’s going to be an exciting journey, and McLeod’s Data Science Team will be there to guide you along.

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