Truckstop and FTR announce Rate Forecasting
Partners Truckstop.com and FTR are proud to announce the release of Rate Forecasting.
What is Rate Forecasting?
Rate Forecasting is the groundbreaking rate forecast solution which projects the trend on each lane for each week—out to one year ahead—to support actionable, real pricing decisions.
How does Rate Forecasting work?
Rate Forecasting data is available in Truckstop.com’s Rate Analysis platform, as well as through an API integration.
It uses a Big Data backend 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: 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.
“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 Noël Perry, Chief Economist for Truckstop.com and FTR. “Spot rate forecasting is not impossible, if you combine a little common sense and this tool.”
Rate Forecasting is available for purchase through Truckstop.com. Like any forecast, it uses the best info available, but does not offer any guarantee or warranty. Read more about the disclaimer here.