May’s jam-packed webinar with TIA, titled “Benchmarking for Better Decisions Optimizing Your Brokerage for Peak Season,” showcased strategies for brokers looking to tackle market volatility and optimize their operations during peak season. Here’s what our experts laid out.
Understand and leverage market volatility
Market shifts present both challenges and opportunities. It’s paramount to stay competitive through data-driven insights rather than relying on guesswork. Competitive brokers are leveraging advanced analytics tools to adapt to these rapid changes and make smarter decisions – not doing so leaves you vulnerable to being caught flat-footed.
The power of benchmarking
Benchmarking allows brokers to measure their performance against market trends, identify strengths and inefficiencies, and improve transparency across operations. By using tools like DAT iQ Benchmark, brokers can:
- Gain insights into how their rates compare against market averages.
- Identify inefficiencies in their lanes.
- Strengthen relationships with carriers based on reliable data.
Optimize lane performance
Real-time data and segmentation capabilities allow businesses to optimize lanes by identifying underperforming routes and strategic opportunities. This helps brokers mitigate risks and seize opportunities to improve cost efficiencies and service levels.
Give leadership data-driven decision tools
Leaders can use real-time insights to shape strategic planning, enabling them to adapt to market trends with greater confidence. These insights also support effective internal reporting, helping organizations communicate performance outcomes across every level.
Segment and parse data for deeper insights
Tools like the DAT iQ Benchmark provide granular analysis, helping professionals identify tactical improvements and refine operational strategies. Dissecting data by location, lane, region, and carrier helps fine-tune strategies.
Exclusive tools
We also offered exclusive look at DAT’s new analytics tools that:
- Process data in real time for up-to-date rate comparisons.
- Enable quick identification of optimization opportunities through custom data manipulation.
- Simplify workflow with an intuitive and fast user interface.
Why benchmarking matters
Freight markets are highly dynamic, with over 30,000 distinct markets representing lane origin and destination pairs. Between 9-15 percent of annual revenue is typically spent on transportation, making transparency and efficiency in decision-making critical.
Using benchmarking tools ensures brokers:
- Improve cost efficiency by understanding trends and demand shifts.
- Build stronger relationships with carriers by identifying profitable opportunities.
- Become proactive instead of reactive in managing market changes.
DAT iQ Benchmark can help
DAT’s iQ Benchmark tool allows brokers to compare their costs, rates, and margins against industry-wide benchmarks. The platform provides:
- Dynamic rate analysis for spot and contract loads.
- Root-cause diagnostics to quickly identify what’s driving inefficiencies.
- Real-time actionable insights so you can forecast and plan ahead confidently.
This tool is perfect for brokers who want simplified, actionable intelligence to maximize margins while minimizing operational friction.
To learn how benchmarking can help your brokerage thrive during peak season, contact your DAT representative or visit DAT iQ Benchmark.
