David Spencer, Director of Business Intelligence within Arrive Insights, recently appeared on an episode of #WithSONAR on FreightWaves TV. David talked about the market, Arrive Insights and how Arrive leverages data to help our customers and carrier partners make better business decisions. Here are a few takeaways from the episode.
During the episode, David talked about the development of Arrive Insights, a way for Arrive to enable both shippers and carriers to better navigate the challenges associated with evaluating and forecasting changes in the freight market. With the pandemic’s variety of impacts on the market, David stresses the importance of understanding trends, data and information. Through Arrive Insights, he creates content that can help both carriers and customers be successful in any market.
Monthly Market Update
Each month, Arrive Insights creates Arrive’s Monthly Market Update, an in-depth report analyzing data from a variety of freight sources. The Market Update content is applicable to and targeted toward both shippers and carriers, as David notes both sides care about similar topics, trends and the market. Transparency in decision making is everything, David says, so it’s important to always be clear about what information decisions are being based off of. As a result, transparency always leads to better conversations with partners.
David touched on a variety of best practices when forecasting data. He says our ability to understand the dynamics of supply and demand in the transportation markets starts with understanding trends. It’s important to identify the factors influencing supply and demand as well as identifying the trends within those factors. This will put you in the best position possible to forecast what’s to come and to navigate the road ahead.
Watch David’s full interview on FreightWaves TV below. The December Monthly Market Update is available now. You can view the full report here.