Know where to Go Before you Go

Knowing what areas to run to make yourself profitable is always a hard to decide as a Carrier.

Fortunately, we're living in an age where data is accessible to everyone, which can help us make better decisions.

I must warn you, this data comes from big companies in the trucking industry, and their data collection methods are still up for debate.

So, we can't rely solely on these platforms. You gotta mix in some good old general market research to make the smartest decisions.

DAT is been around for a while and have amassed a wealth of data. Brokers list their loads, carriers list their trucks, and DAT aggregates this information and analyzes it with their algorithms to provide a market overview.

Their "Market Conditions" feature helps identify areas with either more trucks or more freight, along with seasonal trends. If you notice an area with high demand but insufficient capacity, that's a strong indication it could be a right market to send your trucks to.

They even offer a 7-day forecast, although the reliability of that data and algorithm is still questionable.

TruckStop offers a handy feature that I find really useful: comparing Inbound Load Count versus Outbound Load Count. Similarly, DAT provides this feature, allowing us to observe the balance between incoming and outgoing loads in a specific state.

So, if I notice a state where there is more outbound freight compared to inbound freight, it's a sign that the market in that area might be good.

But I still need to conduct further analysis before making any decisions.

Freight Waves Sonar, might be a pricey paid service, but you can still stumble upon some free data here and there that can assist you in making more informed decisions.

Now, it's no secret that there's some controversy surrounding how Freight Waves collects their data compared to the other options I mentioned. So, it's important to do your homework and double-check data across different tools to make sure it's on point.

I like to check out some extra charts on Sonar to get a general idea of where the market might be heading. I've even attached some screenshots along with descriptions below.

These are just a few of the tools I rely on daily, alongside other research, to make informed decisions for my business. It's all about staying afloat, even when the market isn't at its best.