KANSAS CITY, Mo.--(BUSINESS WIRE)--DAT Freight & Analytics announced that the value of freight transactions analyzed by its DAT iQ platform now exceeds $1 trillion, affirming its position as the industry’s most comprehensive dataset for forecasting and benchmarking truckload, less-than-truckload, and intermodal pricing.
Using invoices submitted by freight shippers and brokers, DAT iQ analyzes anonymized transactions to help freight brokers, shippers, and carriers understand and anticipate trends in market demand and pricing.
The data comes from nearly 670 million separate invoices covering tens of thousands of transportation lanes over almost 15 years of market cycles.
“DAT pioneered truck-transportation analytics in 2010 when we started collecting invoice data to produce benchmark rates and forecasts based on real transactions for loads moved,” said Jeff Clementz, DAT President and Chief Executive Officer. “Today, we have $1 trillion in verified freight transactions—real loads that moved. Where other analytics services fill gaps with proxy data, we deliver the clearest picture of past performance, current conditions, and future trends.”
The $1 trillion dataset powers DAT iQ RateView, the industry’s most popular truckload pricing tool, and DAT iQ Benchmark, the transportation procurement intelligence service for shippers. Using advanced machine learning and artificial intelligence, DAT iQ gives all parties in the freight transaction a single source of truth, or at least a starting point from which they can validate if their pricing is aligned with market trends today and into the future.
“Having the industry’s largest set of transaction data allows our models to learn the complexities of freight pricing, reduce bias and errors, and produce more accurate predictions,” said Ken Adamo, DAT Chief of Analytics. “It also allows us to reliably infer rates where no data exists or the data is sparse, which is ideal for those low-volume lanes that shippers depend on brokers to cover.”
DAT iQ models consume new data daily. An increasingly diverse pool of truckload, less-than-truckload, and intermodal transportation data sources mitigates the risk of any single provider or type of freight significantly influencing the results.
“With the trust and cooperation of customers collectively sharing invoice data, DAT iQ has become the leader in actionable intelligence and the starting point for honest negotiations,” Clementz said. “We’re proud of this milestone and grateful for our contributors.”
DAT announced its $1 trillion milestone at its DATCON24 user conference taking place this week in Kansas City, Missouri. For more information about DAT iQ, visit www.dat.com/iq.
About DAT Freight & Analytics
DAT Freight & Analytics operates the largest truckload freight marketplace and truckload freight data analytics service in North America. Shippers, transportation brokers, carriers, news organizations, and industry analysts rely on DAT for market trends and data insights based on more than 400 million annual freight matches and a database of $1 trillion in freight market transactions.
Founded in 1978, DAT is a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000. DAT is headquartered in Beaverton, Oregon.
