Why You Need Business Analytics for Logistics

Technological innovation, big-data, machine learning, and artificial intelligence have all impacted the logistics space in ways no one could have ever imagined. With all the new tools at their disposal, businesses of all types are competing with each other for even the slightest advantage. And, for many, that advantage is found in leveraging powerful business intelligence and analytics.As technological advancements continue to shift paradigms, BI tools become more and more powerful. Logistics, like all other areas of business, has been impacted by this technological innovation.

The Benefits of Logistics Business Analytics

1. Network Optimization
Optimized shipping networks have become one of the most vital assets that shippers can have. However, finding the inefficiencies within your network requires more computing power than the human brain possesses. Because optimal shipping networks are different depending on industry, powerful business intelligence and analytics tools are needed for shippers to truly determine how to optimize their networks.

1. Carrier Accountability
For high-volume shippers, being able to keep tabs on all the minutiae of what their carriers are doing is impossible. One thing holds true for every business that does shipping: there will be performance and billing issues with your carrier. However, if you have millions of dollars in transportation spend, chances are you aren't going to catch them all - if any. Logistics business intelligence is the crucial piece of technology that shippers need in order to hold their carriers accountable for billing issues and discrepancies.

1. Real-time Cost Managment
Unexpected changes happen all the time. And, by definition, you won't expect them. Additionally, in an environment in which everything happens so quickly, you need to be pro-active and react in real-time. This means that the logistics business analytics solution that you choose needs to provide you with real-time, actionable data - not just monthly reports in your email.

1. Mode and Carrier Optimization
In order to understand which transportation modes and carriers are providing you with the best results, you need to have good data. Powerful BI and analytics solutions are the best tools shippers have in order to optimize their choices of both carriers and transportation mode.