“Big Data” has become one of the more popular business expressions over the past couple of years. This commonly refers to a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. While this is a legitimate concern for some companies, possessing good freight data is a key issue for many others.
In our work with shippers and carriers, we find that having good quality data, data that can be used to make fact-based decisions that help companies improve their profitability is still a major issue, an issue far more important than big data. In this blog I will address two issues. First, what data does a shipper need to run an effective freight transportation operation? Second, I will highlight how a business benefits from having “Good (freight transportation) Data.”
Good Freight Data - The Essentials
For a shipper to manage an effective freight operation, the following are the key data files required.
- Minimum One Year of Detailed Shipping Data
To be useful, the file must capture the following fields:
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