TMW announced a new, industry-wide data warehouse to help carriers, 3PLs and other users do benchmarking and get other data-based insights.
When the TMW Systems Reveal Series data analytics platform was introduced in 2016, it offered business intelligence capabilities for fleets, third-party logistics providers and other transportation enterprises. Today, the new TMW Data Community, representing an expansion of the Reveal Series, is enabling even more advanced analytics solutions.
“Until now, the Reveal Series has focused on applying big data tools to analyze internal operational information,” said Brian Larwig, vice president and general manager, TMW Systems. “The TMW Data Community enables participants to benchmark their performance against similar organizations across a wide range of key performance indicators (KPIs) and utilize this market-wide data to make forward-looking decisions based on industry trends and indices.”
Participation in the TMW Data Community is free for users of the TMW.Suite, TruckMate and Innovative transportation management solutions and/or the company’s TMT Fleet Maintenance and TMT Service Center software. Contributed data is anonymized and aggregated to ensure confidentiality. As a central hub of consolidated data, the solution allows users to analyze a variety of metrics.
The TMW Data Community currently allows for analyses of aggregated and consolidated information by several different variables, including operating region, fleet size, year, lane, type of freight, and more.
KPIs that can be analyzed, among others, include rate per mile, fuel costs, revenue per truck, mileage and empty miles, operating ratio, revenue and costs per mile, tractor and trailer maintenance CPM, and seated percentage.
TMW is also exploring data prediction models using deep-learning data science processes to enable increasingly advanced predictive analytics capabilities for participants in the TMW Data Community.
TMW’s Reveal Series cloud-based business intelligence and data analytics platform enables users to leverage the power of big data within their businesses through advanced, transportation-specific data models and visualization tools. Users can analyze a broad range of metrics – including route profitability, route planning efficiency and driver performance – and assess a variety of “what if” scenarios.
“The TMW ecosystem captures large amounts of transportation and freight data from carriers and brokers,” Larwig explained. “Historically, each company could use its own data to make effective decisions that improve their operations. With the TMW Data Community, over 90 percent of our customers now have the ability to collectively access data from thousands of entities and use the power of big data analytics to generate actionable intelligence critical to how they operate their businesses.”