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Data dive: What shippers need most out of their data

Data dive: What shippers need most out of their data

Today, businesses are looking toward their data to see how it can optimize their operations and save on the bottom line. Because of groundbreaking technologies, the economy is becoming more transparent, and shippers are given more visibility into their supply chains.

We recently published an article about how sharing data can benefit the economy as a whole. However, sharing massive amounts of data can seem daunting to sift through. So what data matters most to shippers?

Freight spend

The biggest factor for businesses to consider looking into what kind of data they acquire is how much they spend in freight.

When you take a proactive approach to your freight spend, you can analyze several data points connected to cost per pound, cost per pallet, and so on that will determine where you are losing money.

Shipwell has robust analytics that can show shippers this data on an easy to use interface detailing costs over time and with which 3PL and carrier.

Efficiency 

Companies want to automate their operations so that the decision makers can make smart moves faster. 

Logistics professionals who manage the distribution of product and inventory management need as much help as they can with making sure the operation keeps flowing.

Understanding inventory data can make carriers’ experiences with your distribution terminal enjoyable or miserable. Keeping carriers happy at the terminal directly affects them wanting to haul your freight.

Supply chain traceability

If you want to have accurate data in real-time, you need to track carrier performance.

Shippers build business by maintaining excellent relationships with their customers. Having dedicated and reliable delivery is critical in these relationships because customers expect a certain level of assurance from businesses.

Monitoring shipments in real-time can help shippers inform customers about potential delays, which shows transparency and open communication. You can use the data from carriers you use to determine the service difference against the rates of each carrier.

Customer data

If the customer is always right, should we be paying attention to their wants, opinions, and critiques of our products? Analysis of user experience and interaction with a product reveal to businesses the pain points while using the product and when a customer wants more functionality in what areas.

Using this data can help shippers get a more broad scope of their customers and can then predict their needs and build a release schedule of features that connect with them.

Being a business these days isn’t just about building a product but creating a unique brand experience for every customer.

Data matters. Companies are getting better at compiling data to analyze, but it’s the data that matters most that will propel the business into the next level. 

Shipwell is the product and service for businesses who are ready to make that leap. Power your entire supply chain from order creation all the way to data analysis in a single pane of glass.

Discover more about your business by using a platform built to solve the problems of the future.