Big data has been a buzzword for some time, and for good reason. There are some pretty radical potential applications of big data, such as accurate demand forecasting or industry-wide real-time visibility. Oracle calls big data the “electricity of the twenty-first century – a new kind of power that transforms everything it touches in business, government and private life.”
But how does it apply to freight transportation?
Most transportation data revolves around operating a transportation management system (TMS), which tracks and analyzes freight performance. Implementing a big data initiative can be overwhelming and the return on investment is hard to predict.