DAT iQ RateView is designed to help brokers understand the current market for the spot freight. The primary focus i son historical rates data to help provide brokers with valuable insights.
Expanded historical rate cards
To assist brokers in identifying trends efficiently, we have introduced rate cards. When you conduct a search, the system automatically picks the Best-Fit rate for the lane. An arrow is displayed on the initial card, serving as a visual cue depicting the rate's trend, indicating an upward or downward trend. The timeframe then expands the to show each timeframe in a separate card, based on the results. Below are a few instances of how the rate timeframe expansion occurs.
Forecast rate card
We added a new feature called the "Forecast Card," which shows a visual representation of future rate forecasts. This helps users gain confidence in the projected output and make informed decisions about the market's direction.
Market Conditions Index (MCI)
The Market Conditions Index (MCI) illustrates whether the freight market favors buyers (shippers and brokers) or sellers (carriers). It provides valuable insights for both parties, helping them determine their bargaining power in a specific local market and the effort required to find a trading partner. The MCI is beneficial for brokers, shippers, carriers, and the industry at large, serving as a valuable tool for decision-making and market analysis.
Historical and Forecast Graph
The historical and forecast graphs offer a comprehensive overview of trends over time.
You can easily switch between the Historical and Forecast views. Additionally, you have the option to toggle the shipper carrier contract to observe its trending pattern in comparison to the broker spot rates.
The table maps "Best-Fit Date Returned" to corresponding rates. As the "Best-Fit Date Returned" grows, the rates extend in duration. If the best-fit is 3 days, rates start from 3 days and escalate to 90 days. As the best-fit date lengthens, the shortest rate matches it, and the longest rates may show "No Display".
For those users that subscribe to Ratecast, you can also view forecasted rates by selecting the filters in the upper-right corner.
You can choose to view a 35-day forecast, a 13-month forecast, or a hybrid view that shows historical and forecasted combined.