DAT unveils DAT iQ Benchmark, an enhanced transportation rate and performance benchmarking tool for shippers
02 Mai 2024 - 6:00PM
Business Wire
DAT Freight & Analytics will introduce DAT iQ Benchmark™, a
significant update to its transportation rate and data analytics
service for shippers, at the 2024 Gartner® Supply Chain
Symposium/Xpo™ in Orlando, Fla., from May 6-8.
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DAT iQ Benchmark (Graphic: DAT Freight
& Analytics)
DAT iQ Benchmark uses new AI-powered rate models trained on the
industry’s largest dataset, comprising $150 billion in annual
market transactions. This data is directly submitted to DAT by over
1,300 freight shippers and brokers.
DAT iQ Benchmark pricing models consume new transaction data
daily to produce the most accurate reflection of spot and contract
rates on virtually every trucking lane in North America, as well as
pricing for intermodal and ocean transportation. Shippers can
compare their performance to all contributors over time and across
numerous attributes, including average distance, count of loads,
fuel cost per mile, total cost over time, and the percent of spot
loads.
DAT iQ Benchmark now includes pricing models for uncommon and
specialized freight types, including hazardous materials,
intermodal, expedited freight, flatbed freight, and loads in
Canada, and can use AI to infer rates for queries where no data
exists or the data is sparse. It is also easier to use, with a new
interface, interactive data visualizations, and customized
reporting.
“Understanding your transportation costs and performance over
time and relative to the market helps you pinpoint what drives your
supply chain, what holds you back, and where you can improve,” said
Ken Adamo, DAT Chief of Analytics. “Our shipper customers have been
able to clearly communicate performance with their executive teams,
uncover cost-saving carrier and lane-level opportunities with
root-cause analysis, and streamline their procurement processes by
relying on DAT iQ Benchmark.”
DAT iQ Benchmark helps transportation procurement professionals
do their jobs more effectively in a number of ways:
- Better communication: Communicate performance and rate
competitiveness to senior management and put costs in context.
- Find efficiencies: Identify lane and carrier-level
operational opportunities to improve efficiency and
utilization.
- Budget and forecast accurately: Prepare for RFPs,
carrier reviews, and budgets with accurate benchmark data.
- Measure performance: Evaluate pricing against past,
present, and forecasted benchmark rates.
“We’ve gone from fully outsourcing our transportation to
managing it ourselves using data and analysis from DAT iQ
Benchmark,” said Dirk Martin, Vice President of Customer Service
& Logistics at Freshpet Inc. “At any time, we know where we
stand relative to the broader market and can confidently make
decisions that help us reduce costs and build better relationships
with our transportation providers. DAT iQ Benchmark data has been
an invaluable source of truth.”
For more information, visit DAT.com/Shippers.
See DAT iQ at the Gartner Symposium
Experience DAT iQ Benchmark at Booth 107 in the Logistics
Solution Village. Learn how reliable market-rate benchmarking
delivers insights shippers need for better planning, performance
evaluations, risk mitigation, network optimization, and cost
management.
Speaker session at Gartner: Dr. Chris Caplice
On May 6, DAT Chief Scientist Dr. Chris Caplice will discuss
“Leveraging Data Science to Transform Freight Transportation.”
Time: 3:35 p.m. Location: Stage 3, Supply Chain Xpo, Pacific
Hall.
GARTNER and Supply Chain Symposium/Xpo are registered trademarks
and service marks of Gartner, Inc. and/or its affiliates in the
U.S. and internationally and are used herein with permission. All
rights reserved.
About the Gartner Supply Chain Symposium/Xpo
CSCOs and supply chain leaders are continuously confronted with
increasingly complex challenges and are expected to outperform and
overdeliver. Top supply chain organizations navigate through the
turbulence by solving present-day issues and positioning themselves
for long-term success. The Gartner Supply Chain Symposium/Xpo™ 2024
conference offers pragmatic advice and future-focused insight for
supply chains to deliver now and in the future. Network with 3,000+
peers and vet new technologies at our Exhibit Showcase.
About DAT Freight & Analytics
DAT Freight & Analytics operates both the largest truckload
freight marketplace and truckload freight data analytics service in
North America. Shippers, transportation brokers, carriers, news
organizations, and industry analysts rely on DAT for market trends
and data insights based on more than 400 million annual freight
matches, and a database of $150 billion in annual freight market
transactions.
Founded in 1978, DAT is a business unit of Roper Technologies
(Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and
Fortune 1000. DAT is headquartered in Beaverton, Ore. Visit dat.com
for more information
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version on businesswire.com: https://www.businesswire.com/news/home/20240502748268/en/
Georgia Jablon Corporate Communications,
DAT Freight &
Analytics georgia.jablon@dat.com 904-305-6454
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