PORTLAND, Ore.,— DAT Solutions today announced that Choptank Transport, a third-party logistics firm based in Preston, Maryland, has joined a pilot program to test a new set of truckload rate data and forecasting models for faster, more accurate online freight quotes and transactions.
Available in DAT RateView this spring, the forecasting tools generate rate predictions based on current market conditions, price momentum and five years of transaction histories. Choptank will also incorporate DAT’s new Market Conditions Index, a predictive supply and demand indicator based on load and truck posts as well search and transaction behavior on DAT Load Boards.
Along with these new data and analytics tools, Choptank is incorporating Book Now, an automated load-tendering feature in DAT Load Boards that eliminates phone calls, lengthy negotiations and manual processes for its brokers and carriers.
“Choptank knows the value of providing customers and carriers with access to real-time market intelligence,” said Claude Pumilia, DAT President and CEO. “They’re a long-time DAT customer and will be an exceptional feedback partner as we prepare a commercial launch of our analytics and pricing tools this spring.”
“These forecasting features will improve our pricing so that we can conduct business faster with our shipper and carrier partners,” explained Josh Bergling, Choptank Transport VP of Technology. “We’re excited to take part in the early access program and offer key feedback.”
DAT’s analytics and rate forecasting tools are powered by RateView, the most accurate and complete source of spot and contract rate data available with $68 billion of actual market transactions each year.