DAT Freight & Analytics recently announced that the value of freight transactions analyzed by its DAT iQ platform now exceeds $1 trillion.
Using invoices submitted by freight shippers and brokers, DAT iQ analyzes anonymized transactions to help freight brokers, shippers, and carriers understand and anticipate trends in market demand and pricing. The data comes from nearly 670 million separate invoices covering tens of thousands of transportation lanes over almost 15 years of market cycles.
“DAT pioneered truck-transportation analytics in 2010 when we started collecting invoice data to produce benchmark rates and forecasts based on real transactions for loads moved,” Jeff Clementz, DAT president and CEO, said. “Today, we have $1 trillion in verified freight transactions—real loads that moved. Where other analytics services fill gaps with proxy data, we deliver the clearest picture of past performance, current conditions, and future trends.”
See also: DAT: September firmly into new freight cycle
The $1 trillion dataset powers DAT iQ RateView, the company's truckload pricing tool, and DAT iQ Benchmark, a transportation procurement intelligence service for shippers. According to the company, using machine learning and artificial intelligence, DAT iQ gives all parties in the freight transaction a single source of truth or at least a starting point from which they can validate if their pricing is aligned with market trends today and into the future.
“With the trust and cooperation of customers collectively sharing invoice data, DAT iQ has become the leader in actionable intelligence and the starting point for honest negotiations,” Clementz said. “We’re proud of this milestone and grateful for our contributors.”
