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.
“When 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 invested heavily 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.”
“I think it's safe to say that as these trends continue, 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.” is spent on analysis. ”
“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 fun, right? It tells you whether you need to do what you want done now, what you want right now, and what you value. … That's also where competitive advantage gets really 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. Bad news: Do something unique. The good news: You can use your own data to find a competitive advantage, so start combining data that might tell you something that market rates can't. please.”
“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 that.”
“You're not looking for that one win. You're looking for a way to use it to win over and over again.”