Le Lézard
Classified in: Transportation, Science and technology
Subject: PDT

Truckstop.com and FTR Release Industry's First Lane-Specific Rate Forecast

NEW PLYMOUTH, Idaho, Oct. 4, 2017 /PRNewswire/ -- Truckstop.com, in partnership with FTR, introduced its highly anticipated Rate Forecasting tool to hundreds of industry leaders during the FTR and CSCMP conferences this September. Rate Forecasting is an industry-first, groundbreaking, lane-by-lane rate forecast which projects spot market rates using more than 10 years' of paid rate data.

The rate forecasting service will enable customers to plan based on how rates are expected to fluctuate in the days, weeks and months ahead. It also can provide rate analysis for specific markets and down to the lane level.

"Brokers, carriers and shippers can benefit from this information through improved budgeting, benchmarking and business planning," said Brent Hutto, Truckstop.com Chief Relationship Officer.

"We're offering really specific information that can help our customers adjust, anticipate and predict rates and make more informed business decisions," Hutto said.

Rate Forecasting uses a "Big Data" back-end to analyze 10 years of market trends from across the Truckstop.com marketplace, as well as FTR's proprietary economic modeling algorithm that measures 13 million data points each month. The result is a forecast showing the very different trends on each of 160,000 lanes (state to state and 3-digit zip) and 6 million origin/destination pairs.

"We look really hard at the historical data. We never have before. Now we're able to," said Noël Perry, who serves as FTR and Truckstop.com's Chief Economist. "We look at how the market has been trending and what's been driving that trend such as the economy, fuel prices and productivity."

Industry leaders like Zach Green, senior analyst for Ryder Logistics, anticipate using the industry's first predictive analytics solution to make quick and data-driven decisions on shipping rates, contracts, and strategic business planning. The forecast is meant to be actionable to support real pricing decisions.

"The set-up is very user friendly and the forecasting is something I haven't seen with other rating tools," said Green. "That should be extremely beneficial when we're presenting a quote to a customer or prospect on freight that is contractual or recurring, as predicting future rate trends has been a major challenge."

Rate Forecasting is the result of a partnership between two industry leaders, Truckstop.com, the industry's largest rate data network and FTR, leaders in freight analysis and forecasting for almost 30 years. The tool is in Truckstop.com's Rate Analysis platform, as well as through an API integration.

"Rate Forecasting balances seasonal, geographic, random, economic, regulatory, and permanent trends on each lane with deep statistical modeling, better than a human can on the fly," said Noel Perry, Chief Economist for Truckstop.com and FTR. "Spot rate forecasting is not impossible, if you combine a little common sense and this tool."

About Truckstop.com
Truckstop.com, the industry's most trusted and largest load board, hosts technology solutions across the freight lifecycle. The company is recognized as a leading resource for freight data and trends, informing outlets like BB&T and Bloomberg Financial.

About FTR
FTR, the industry source for Transportation Intelligence, combines a deep understanding of freight demand and the underlying economic fundamentals by tracking more than 13 million data points each month, with historical and modal-specific insights.


Media Contact:        

Industry Relations:  

Susan Collins         

Brent Hutto        



(770) 654-7054  

(205) 886-5565


SOURCE Truckstop.com

These press releases may also interest you

at 09:02
Swank Capital, LLC, and Cushing® Asset Management, LP, announce today the upcoming rebalancing of The Cushing® Transportation Index (the "Index") as part of normal index operations. After the markets close on September 28, 2018, the constituents of...

at 09:00
According to TMR, the global automotive battery market is expected to value US$54.5 bn by the end of 2022. Between 2017 and 2022, the market is forecast to exhibit a CAGR of 5.7%. Holding over 38% of the market based on chemical composition, the...

at 09:00
Carinsuranceplan.org has released a new article that explains why car insurance quotes online will help drivers find the best coverage.   When driving, a person must be covered by auto insurance, otherwise, he or she risks costly penalties. Many...

at 09:00
Compare-autoinsurance.org has issued a warning to all car owners affected by Hurricane Florence, Pay attention to car repair scam and work only through your trusted car insurance provider.  The damage caused by Hurricane Florence exceeds even the...

at 08:57
ICF , a global consulting and digital services provider, today announced the launch of Truebook, an online platform for aircraft valuation that uses proprietary appraisal methodologies to provide accurate and comprehensive assessments....

at 08:11
PASSUR® Aerospace, Inc. , a global leader in digital operational excellence, announced revenues of $3,716,000 for the three months ended July 31, 2018, compared with $3,332,000 for the same period in fiscal year 2017, an increase of $384,000, or 12%....

News published on 4 october 2017 at 08:06 and distributed by: