PORTLAND, Ore., —DAT Freight & Analytics introduced Multilane Rates for Ratecast, as part of DAT iQ. This enables Ratecast subscribers to build the forecasting tool into their workflows so that they can confidently bid and complete RFPs in less time, improving their chances of winning.
As a part of DAT iQ, the new forecasting feature makes it faster and easier to generate multiple lane rate forecasts, validate pricing strategies and present accurate forecasts in one easy-to-use, RFP-friendly format. Multilane Rates enables subscribers to retrieve and download a monthly summary of spot rate forecasts and histories across thousands of lane rates in one single file, which makes the RFP process faster and easier.
Shippers, brokers and carriers use Ratecast to respond to RFPs with more confidence, with the 12-13 month forecasted rate for each month, utilizing the strength, accuracy, depth and breadth of Ratecast’s data. The tool accounts for short-term market effects, seasonal impacts and long-term price trends, leveraging the industry’s largest trucking database of $76 billion in annual market transactions on tens of thousands of lanes, with 95% accuracy.
Ken Adamo, DAT’s Chief of Analytics said: “In a volatile rate environment, forward-looking pricing tools are essential to producing a competitive bid. With Multilane Rates and pricing forecasts up to 52 weeks in advance, Ratecast subscribers can now confidently navigate the bidding process by incorporating the industry’s most reliable predictive and historical rates into their workflows and analysis.
“We provided a handful of customers with early access to Multilane Rates and were delighted to see that they doubled the number of RFPs that they won. It was extraordinary!”
Multilane Rates is available to Ratecast subscribers. Visit www.dat.com/freight-rates/ratecast for more information.