DAT Solutions revealed that Schneider has joined DAT’s pilot program to evaluate new technology and data that deliver faster, more accurate forecasts of truckload freight rates and market conditions.
Schneider is implementing two new forecasting tools from DAT: Market Conditions Index (MCI), an indicator of truckload freight supply and demand; and new rate-prediction technology that uses DAT RateView, a source of spot and contract rate information.
“Our investment in data science and technology is essential to the way we help customers improve their supply chains,” said Erin Van Zeeland, group senior vice president of Schneider Logistics Services. “This pilot program is an opportunity to use DAT’s best-in-class data and analysis tools to help us gauge market conditions today and in the future, and provide a reliable and transparent rate right away.”
MCI is a comprehensive and dynamic indicator of future changes in rates for van, refrigerated, and flatbed freight. This measure of supply and demand incorporates actual inbound and outbound freight transactions, load-board post and search behavior, and short-term and long-term trends to generate a holistic view of past, present, and future market conditions.
DAT’s rate forecast and analytic tools provide freight brokers, shippers, and carriers with reliable truckload price intelligence. Generating predictions from one day to one year in the future, DAT’s data and algorithms account for short-term market effects, seasonal impacts, and long-term price trends.
“Schneider is an undisputed leader in the use of data science and technology to streamline freight transactions and improve the experience of customers,” said Claude Pumilia, DAT Solutions CEO and president. “Our team is excited to leverage Schneider’s expertise to make our MCI and rate forecasting tools essential to the way transportation buyers determine truckload pricing.”
Schneider’s solutions include regional and long-haul truckload, expedited, dedicated, bulk, intermodal, brokerage, warehousing, supply chain management, and port logistics.
DAT rate forecast and MCI tools will be made available to third-party logistics providers, freight brokers, truck fleets, financial analysts, and other industry stakeholders in April.
