Resourcefulness is hard to measure and a difficult skill set to teach, but people who manage transportation or run trucks for a living have it in spades. They are exceptional problem solvers.
In trucking and logistics, there has been no greater test of resourcefulness than COVID-19.
Amid the volatility brought by the pandemic, DAT has steadily grown in a multitude of ways. Steeped in technology and able to quickly adapt, we were excellently positioned to operate as a fully remote workforce and able to continue on our path of growth and expansion, delivering value to our customers at a fast and productive pace.
Throughout the duration of 2020 we expanded in a number of ways, improving both our service and overall proposition to our customers. We grew our network, adding thousands of trucks to our freight-match platform, making it faster and easier than ever before for our customers to find a truck. We improved our forecasts and custom analytics accuracy rate to 95%, making DAT the single best source for moving truckload freight.
We achieved a new industry standard in truckload price analysis and forecasting by adding three-day average lane rates to RateView, which are now the closest to real-time available rates available.
We moved closer to our vision of becoming a one-stop-shop for our customers, where DAT web and mobile users and customers can quickly find what they need and discover new capabilities.
We launched industry’s leading mobile app, DAT One, which provides carriers all the services they need while out on the road. We also introduced Ratecast, Market Conditions Index and Book Now, three features designed to give our customers intelligent and transparent pricing to help them forge more trusted relationships with their customers.
In June, we acquired the Freight Management Intelligence Consortium (formerly part of Chainalytics), which expands our data, reach and insights into contract freight. The addition of FMIC’s subscriber data gives us a full, 360-degree view of the freight marketplace, with unparalleled insight into $110 billion worth of spot and contract freight transactions annually across retail, manufacturing, wholesale and other industries worldwide.
With more turbulence in the forecast for 2021, one constant that we see is the essential role of transportation in our everyday lives. For all of us at DAT, we remain laser-focused and committed to removing the uncertainty from freight through innovative software applications, mobile tools, data and analytics that enable our customers to operate more efficiently and ultimately, more profitably.
Thank you to everyone in the industry, and here’s to a healthy, productive and prosperous road ahead.
Get your copy of 2021 Freight Focus: The Transportation and Logistics Outlook