Overview
Getting the right price on a long-term contract means accounting for potential change in market conditions between negotiation and the time that the freight is tendered, which often requires brokers to manually integrate several different data sources or simply rely on instinct and guesswork.
Greenscreens Intuition can accurately forecast rates up to 12 months ahead. We put an ensemble of AI models to work analyzing data from your brokerage and the freight market, including both lane-specific and market-wide trends. This feature is another effective way to incorporate data-based insights into your pricing strategy.
Intuition is a subscription product. For more information, contact your Customer Success Manager or sales@greenscreens.ai.
How it Works
Intuition’s long-term forecasting works through a .csv-based interface. This allows you to tailor output by including various data points (historic data, network predictions, volume metrics, etc.) Multiple AI models analyze your uploaded data and data from the greater market to provide a reliable batch forecast of up to 65,000 lanes without sacrificing performance.
When you upload your .csv, the system will analyze it, generate an output .csv, and email the results to you. The output file includes:
All the original input data
Predictions for the contract start month and subsequent monthly predictions for the next 12 months
Network predictions for the start month and the next 12 months.
Using Intuition
Start with an RFP
Start with an RFP from the shipper. These lanes will form the basis for preparing competitive quotes. The RFP should include:
A large number of lanes, each representing a potential contract
Details on freight volumes for each lane over a specified time period.
Prepare your .csv
Download the Intuition template from the Greenscreens Long Term Batch tab:
Open the template and edit it to include the information headers you need, such as notes, wait data, or commodity data:
Paste the data from the RFP into the template.
Upload your .csv
On the Long Term Batch tab, click Choose and upload a file:
Select the .csv file and click Open (in Windows) to upload it.
Processing can take from a few minutes to up to an hour depending on the volume of data. The results will be sent to the email associated with your account. The time it takes to send results may vary. Most batches will arrive in your inbox fairly quickly, but in some cases it can take up to an hour.
Configuration Options for Historic Data
You can select configuration options for a long-term forecast by clicking Settings:
In the Settings window, you can choose:
How the AI model handles lanes with no historical data
Historic Actuals displays averages for the previous 12 months only for lanes with available historical data. If no data exists for a lane, this section remains blank.
Historic Predicted generates records for every lane, whether or not historical data is present. This means the model shows what it would have predicted for the rate. This option allows you to analyze trends whether or not actual data is available.
To get rates for individual lanes or larger market areas
Whether the results should be flat rates or a price per mile.
Customize your Results
You can edit and customize the output file to fit your RFP process by recalculating or reformatting for optimal rates. When you’ve edited the results as needed, copy them into the original RFP. This is your rate proposal for the shipper.