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Businesses throughout the transportation industry have learned the value of business intelligence (BI) for revolutionizing internal operations, from optimizing payment practices to cutting transportation costs. For these benefits and more, BI has become a trusted tool in the transportation industry’s toolkit. This popularity and usefulness are shown through the expectation that the BI market will reach $54.27 billion globally by 2030, a compound annual growth rate (CAGR) of 9.1 percent.
Now that shippers have become accustomed to using BI to revolutionize their operations, many are looking to go beyond that benefit and wondering what it could do for customer service.
Business intelligence is when collected data is analyzed and used for insights and decisions that improve the company and its processes. In transportation, it can increase visibility, provide better inventory management, cut labor costs, and create other optimization in supply chain and logistics.
Business intelligence software uses cutting-edge technology to collect data from multiple transportation sources, normalizesand analyze it. The analysis can be used for insights and business intelligence, which is data-backed rather than focusing on opinions or guesses.
Business analytics in transportation takes essential data and makes it usable. BI software makes it easier to carry out those analytics and gain substantial benefits from the insights it provides. The business intelligence that develops from the process can create a better experience for customers in numerous ways:
Not only do shippers gain insights into their business processes and strategies through BI, but they can also provide insights to customers. Business intelligence software allows them to provide data visualizations and reports for customers, which they expect.
Doing this in-house requires a lot of resources, but BI software makes the process more efficient and affordable. This software gives customers access to on-demand dashboards and helps shippers create standard and customizable reports. It enables them to standardize data to provide the datasets and visualizations customers seek.
Customers want to trust their shippers. They hope that shippers use precautions in certain areas, including anomaly detection. The ideal situation is to catch anomalous patterns in the data as they are happening. This allows them to be addressed before they cause significant problems.
Machine learning helps shippers effectively carry out anomaly detection in real-time to serve their customers better. True machine learning can be automated to find irregularities, alerting shippers to them as soon as possible. It can also provide prescriptive analytics that gives more information about the cause.
Customers don’t want to hear “sorry” from their shippers. When something goes wrong, they want to know the solution that will fix the problem – or has already corrected it. Actionable analytics allows shippers to provide this solution.
It transforms raw data into the actionable, solution-oriented analytics that customers demand. Business intelligence software makes data processing faster, creates more accurate analytics to support these solutions, and puts out fires as soon as possible.
Going forward, we can expect business intelligence to be even more advanced and practical. “The best way to make an impact is to embed the insights you need at the right place at the right time – not in a separate screen where you have to log in and see a nice chart and dashboard, etcetera,” says Amir Orad, CEO of Sisense.
The future of BI is found in streamlined, democratized access to information. Customers do not really want to use dashboards and decipher heaps of data. Instead, they want the information that helps them improve their businesses.
Quality customer service is essential to the transportation industry, and business intelligence can help shippers improve in this area.
Intelligent Audit gives shippers access to cloud-based, machine learning-driven BI that can help satisfy customers. These are just some of the services Intelligent Auditprovides:
Get started with Intelligent Audit today to create benefits both internally and for your customers.
Set up a call with one of our experts to discuss how Intelligent Audit can help your business uncover opportunities for cost reduction and supply chain improvements through automated freight audit and recovery, business intelligence and analytics, contract optimization, and more.
