This hearth chat summary is from FreightWaves’ 3PL Summit held on Wednesday.
Fireside chat topics: How 3PLs can start their data analytics journey in the AI era
detail: Brian Armieri, co-founder and managing partner of Third Axiom Solutions, which builds analytics and AI for transportation companies, talks about how 3PLs can use AI to become data-driven organizations.
“If you look at the big picture of 3PLs, or all 3PLs, in three words we can say the state is fragmented, fragmented, fragmented. There is a huge disparity between the haves and the have-nots. …Some organizations have made significant investments in everything from data science teams, large technology infrastructures, and expensive software tools. They either build everything in-house or rely on the best tools available. We’re committed to getting them. And on the other end of the spectrum, you have smaller organizations that just don’t have the budget available.”
“As these trends continue, I think it’s safe to say that there will be more pressure on data science teams and IT (in all industries, not just transportation) to justify the cost of analysis and significant spending.” They spend their time analyzing. ”
“If you want to use a technology like AI, I think of things in terms of stakes and competitive advantage. Table stakes aren’t very interesting, right? They’ll tell you if there’s anything you need to do about what they want you to do now, what they want you to do right now, and what you value. It’s interesting, but it’s also very difficult, because you have to do something unique. …There’s good news and bad news when it comes to competitive advantage. The bad news: What? The good news: you can use your own data to find a competitive advantage, potentially telling you something you can’t get from market rates. Please start combining the data.”
“Becoming truly data-driven within an organization is an ongoing process and the right path to analytics success is three things: Developing strong analytics capabilities, yes, but second You also need to apply an experimental approach and an experimental mindset. Third, maintain a strategic focus. As you deploy analytics to make your organization data-driven, You’ll see your return on investment increase. … By providing everyone with relevant, targeted data insights up and down the management chain, everyone can better plan their next steps and become more informed. You will be able to make choices based on
“You’re not looking for that one win. You’re looking for a way to use it to win over and over again.”
