AI Is Changing Transportation for Good
Some of the most exciting breakthroughs in transportation are applying artificial intelligence to pricing. Let’s face it, you can’t find a bigger, more dynamic data set than freight pricing. Buried in the massive haystack of port pairs, rates, tariffs, and services are gold needles worth billions.
Defining Artificial Intelligence
The Winmore Cloud combines large sets of pricing and workflow data with intelligent, iterative processing algorithms to learn from patterns and features in the data set. Each time the Winmore cloud runs a round of processing, it tests and measures its own performance and develops additional expertise.
Artificial intelligence (AI) software is included in the Winmore platform. Although the term is used interchangeably with machine learning (ML), AI and ML are quite different. For starters, machine learning is a type of AI software. More importantly, machine learning allows the Winmore Cloud to become more accurate at predicting outcomes without being explicitly programmed to do so.
Algorithms Accelerate Pricing
When Winmore algorithms are applied to your pricing data in the Winmore platform, fasten your seat belts since AI can automate laborious and tedious tasks. Frustrated by the endless hours of mapping shippers’ RFPs to your internal pricing templates? Winmore algorithms automate the process … and learn from each iteration, so Winmore gets smarter and smarter with each bid. What once took hours is now completed in minutes—and more accurately than the most experienced analyst.
More importantly, algorithms in Winmore Cloud provide a glimpse of what’s to come: a streamlined, machine learning-led Rate Advisory service that advises lane-level bid pricing based on historical data. The same intelligence provides heuristics and forecast models for trend analysis and accelerates “what if” margin projections.
Your Algorithms Belong to You
More and more logistics companies are hiring data analysts to develop their own internal proprietary algorithms. Yet finding a digital platform to apply those algorithms to data sets can be a challenge. Fortunately, Winmore Cloud is an open platform.
Just as logistics companies can choose from Winmore-developed workflows to streamline their processes or develop their own workflows in the Winmore Design Studio, Winmore customers can also choose from Winmore algorithms or develop their own. Regardless of your choice, Winmore asserts that your algorithms belong to you, the same way your workflows and your data belongs to you.