RateLinx offers predictive analytics that stands out from all other DaaS (Data as a Service) providers because we create an integrated dataset—not an aggregated dataset—as the foundation for all analysis. By integrating the various data surrounding your supply chain, you will have a complete picture of your supply chain in one spot. The integrated data foundation allows RateLinx predictive analytics to be more accurate because there are more facts to evaluate and use for making decisions. Leveraging the automated power of RateLinx data intelligence, you can free up your team to focus on strategy, not routine tasks, so you can identify and solve problems faster.
Capturing the Data at the Source
The RateLinx system is built to receive data from the various external sources that create the data, such as the supplier, carrier or even the customer themselves. Our system understands this data, so it knows how to integrate content from multiple sources to form one data foundation. Oftentimes, we will integrate into a customer’s process instead of their system to avoid requiring any customer IT resources. This is possible because the data to be integrated is already being exchanged between our customer (the “Company”) and the external source:
[Customer to Company] and [Company to Customer]
[Company to Vendor] and [Vendor to Company]
[Company to Carrier] and [Carrier to Company], etc.
Integrating with Customers’ Software
The RateLinx system taps into these data feeds and pulls the contents into the appropriate system to be integrated. The RateLinx system also contains the software the customer is using to create the data, so it knows how to utilize the data and what it “means.” For example, the customer may be using their TMS to tender its shipments to a carrier so when the data from the customer’s TMS is received by the RateLinx system, which also has a TMS, the RateLinx system has the intelligence to know how to integrate and cleanse the data to make it meaningful, which is what we call Integrated Data Intelligence.
Advanced Analytics in 30-45 Days
To get the RateLinx analytics up and running is a quick process, typically 30-45 days. Customers can start with Intelligent Invoice Management (IIM) if they want to receive analytics that are more financially related, or they can start with Radar Track & Trace if they want to receive analytics that are more service related. The most powerful analytics are available when these two are combined and the customer can receive analytics around the financial impact of the service. This is another great example of what integrated data can provide—a complete picture to how a customer’s supply chain is performing.
Customized Reporting Usually in a Day or Less
When a customer starts with us, the hardest part for them is to think about what kind of reporting they need. So, we’ve created a suite of baseline reports and KPIs to give customers a place to start and help them see what data they now have at their fingertips in real-time.
Here are the four most popular baseline reports:
- On-time pickup/delivery
- Charge breakdown
- Lost Savings
- Overall freight spend
The most popular attribute that we add to all these baselines is the customer’s item information. By integrating the item information to the Radar Track & Trace and to IIM, the customer now knows which item or brand is either exceeding performance expectations, or not meeting performance expectations. For example, when it’s back-to-school time, you want to measure and monitor the performance of the back-to-school items in your catalogue to make sure that they are getting to the stores on time and for the right price. The RateLinx system is built to allow our Managed Services team to manage this data service quickly and easily. When a customer needs a new report, or needs a new attribute added to a report, our Managed Services team can do this with a few clicks of a button and get the request turned around in a day or less.
Artificial Intelligence Allows You to Solve Problems Faster
Companies often choose RateLinx analytics to achieve a new level of success or solve a complex, seemingly intractable problem. The not so obvious problem we solve all the time is providing the customer with a clean data foundation that they can use to make decisions. Many customers are focused on solving a problem that is one step beyond this, asking questions like: why is my freight spend up? or why are my store shelves empty? To answer these, they may assemble a large team to manually pull data together, integrate it and cleanse it. Then they analyze the data months later to come up with an answer that they can implement next year. All of this can be solved quickly and accurately using the Artificial Intelligence (AI) contained in the RateLinx system. AI is capable of much more than driving a car, its fundamental definition is having a computer perform the repetitive tasks through complex automation that a human is doing. By having the computer (RateLinx system) do these tasks, it’s able to perform them faster and more accurately. This allows the customer to perform the creative tasks which is development of a strategy to solve the problem and to do it for right now, instead of for next year.
If you’d like to learn more about what integrated data and how it powers advanced data analytics, drop me a line and we’ll chat about what RateLinx can do for your company.