The second FreightWaves book, Freight Revolution: the supply chain will never be the same, sponsored by Uber Freight, is now available for download here. Attendees of MarketWaves18 already have their copies, but we’re excited to open up access to our work to the general public. Freight Revolution was edited by FreightWaves staff writer Chad Prevost, an experienced editor and publisher, who solicited contributions from in-house experts and the wider industry.
One of the standout articles, at least in this reader’s opinion, is “Alternative data in transportation” by FreightWaves Chief Data Scientist Daniel Pickett. As Pickett explains, alternative data is information gleaned from a variety of non-traditional sources (think social media or internet of things devices) that can be used to value assets and risk.
“The vast majority of investors get their information from quarterly financial statement releases. Some of the most savvy and successful investors have long sought to obtain information about the results of companies from less conventional sources, that can provide more real-time indicators of business activity,” Pickett wrote.
Imagine if an equities analyst could build models based on trucking spot rates to predict the direction of a carrier’s stock price before quarterly earnings were posted, or if an oil trader tracking truck GPS data could see drilling activity in the Permian Basin before the EIA reported it. In other words, the value of alternative data in transportation goes far beyond the optimization of trucking operations.
Chris Ricciardi, COO of Logistical Labs, wrote an insightful article titled “Lessons from underdogs: how to level the playing field and win the logistics game” that used the metaphor of tiny Croatia reaching the finals of the 2018 World Cup to discuss how small 3PLs can use data analysis as a force multiplier and outperform their larger peers.
“Whether it’s speed-to-market when rolling out a new product or service, responding to quote requests faster, or shortening the internal learning curve for employees, companies that think outside the box and leverage data in new ways will have a competitive edge and emerge victorious,” Ricciardi concluded.
Freight Revolution is divided into four sections: Tech Revolution, Blockchain in Application, Automation and the Supply Chain, and Capacity Economics. FreightWaves and Uber Freight are proud of the book, and we’d love to hear feedback from readers about how we can keep delivering the freshest, most relevant content. So check it out, and if you want to see an infographic, white paper, or book on a certain topic, let us know!