The following is a guest post from Josh Hanselman, a member of our enterprise sales team.
Benchmarking is a critical component of a successful brokerage’s growth strategy. It provides actionable insights that inform ways to buy better, price more confidently, and ultimately, win more.
When you look under the hood and see how your performance stacks up, what kinds of questions are you asking?
Is it “How do I start benchmarking?” Do you have a plan for benchmarking but need more resources for implementation?
Is it “Am I leaving money on the table?” How do you currently evaluate this question and what actions do you take?
Is it “What can explain this buying behavior?” How do the different variables of lead time, market conditions, additional requirements, and other factors impact performance?
Is it “How can we improve our pricing process to win more?” What actions can you take to improve in focus areas that drive larger margins consistently win?
We’ll address these questions when we bring the broker benchmarking tool into the DAT iQ platform.
The evolution of the DAT iQ pricing and analytics platform has given us the opportunity to incorporate the most impactful features from our legacy tools while also listening to your feedback to add what matters most to our customers.
Here is a snapshot of the Benchmarking Analytics tools we are building for you within our UI:
DAT iQ is built on the industry’s largest consortium of data, over $1 trillion worth of transactions. No other tool can give you comparable, powerful insights to inform your business’ strategy and see how you are performing against the market.
As we push forward on the mission to provide tools that grow your power to succeed, we want to work with you so you can take advantage of the new coming to DAT iQ.
What do you need to consider as you get ready for benchmarking with DAT iQ?
While the updated benchmarking tools coming to DAT iQ are a marked improvement in visualization and ease of use from previous versions, we know some customers may have questions about what data they are sending DAT and how that will be displayed.
The Benchmarking, Data Operations, and Customer Success teams at DAT are here to support your efforts and offer up some questions to think about as you prepare:
- Are you currently a DAT contributor and do you understand the data points required to get the most value out of the Benchmarking Analytics tool?
- Do you need to validate who within your organization will have access, or do you want to make sure visibility is separated between various teams?
- Are there other tools provided within the DAT iQ and DAT One platforms that help you take action and make improvements on the insights you discover?
If you are curious about how to best set your company and yourself up for a smooth and successful benchmarking experience please reach out to us and we will happily engage with you on the correct steps.
