{"id":12402,"date":"2021-09-22T17:25:02","date_gmt":"2021-09-22T15:25:02","guid":{"rendered":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/?p=12402"},"modified":"2021-09-22T17:25:26","modified_gmt":"2021-09-22T15:25:26","slug":"fleets-55","status":"publish","type":"post","link":"https:\/\/advancedfleetmanagementconsulting.com\/eng\/2021\/09\/22\/fleets-55\/","title":{"rendered":"McLeod leverages AI to help fleets make better decisions on freight"},"content":{"rendered":"

With the new MPactPro, machine learning and predictive analytics can help carriers make decisions based on the current market for various truckload freight categories on a lane-by-lane basis.<\/p>\n

GRAPEVINE, Texas\u2014Using artificial intelligence (AI) and machine learning, the data scientists at McLeod Software<\/a> are expanding its rate analysis tool, MPact, to offer predictive analytics to help carriers make decisions about future freight. The trucking software company announced the new MPactPro offering during its in-person user conference this week.<\/p>\n

MPact has seen dramatic growth in user adoption over the last year, Mark Cubine, McLeod\u2019s VP of marketing, told FleetOwner<\/i>. MPact is an added layer for McLeod\u2019s Market Insight, an extensive rate database collected from over 1,000 rate contributors who are McLeod customers. That rate data, sent directly from McLeod customers\u2019 systems every night, arrives every evening and is aggregated, then processed, to provide daily and historical pictures of accurate lane rate data for different types of freight and equipment while keeping the individual carrier\u2019s or broker\u2019s submission confidential.<\/p>\n

\u201cWe\u2019ve made a much easier way to gain a deeper understanding of market pricing in near-real-time,\u201d Cubine said. \u201cThere are a lot of people who can look at a spreadsheet and not deduce everything that\u2019s happened there. But when you start looking at some of the AI tools, machine learning tools, and analysis tools that we\u2019ve layered on top of the data, it\u2019s much easier for all respectable people to see and understand the whole rate question.\u201d<\/p>\n

MPact gives McLeod customers a clear picture of the current market for the various categories of truckload freight on a lane-by-lane basis. MPactPro will integrate its customers\u2019 internal data to present a picture of the market that is more specific for their company and operating costs and enable them to improve load profitability and lane optimization for their network.<\/p>\n

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Credit: McLeod Software<\/div>\n<\/div>\n<\/div>\n
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\"MPactPro<\/div>\n<\/div>
MPactPro includes a visual analysis tool in the form of a \u201cDecomposition Tree\u201d that brings multiple data points into a single view.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n

MPactPro includes a visual analysis tool in the form of a \u201cDecomposition Tree\u201d that brings multiple data points into a single view to help customers determine the \u201cwhy\u201d of things that are profitable or not. It gives the customer insight into what is driving the margin behavior and trends.<\/p>\n

Cubine said the expansion of MPact will be valuable to customer service representatives trying to figure out how to price a spot rate quote and for pricing managers filling out longer-term bids by looking at market trends. \u201cMPact is a layer of analytics and data science on top of the market rate data that makes it easier for everybody in the organization to understand and act on it,\u201d he explained.<\/p>\n

Productivity Benchmarks in MPactPro will also show McLeod customers how their employees perform relative to operations at similar-sized companies in their revenue category.<\/p>\n

Some of McLeod\u2019s planned benchmarks include various cost elements:<\/h4>\n