Welcome to a growing community of shippers, carriers, brokers, educational institutions, and financial organizations taking advantage of the most comprehensive, near time freight market data in history. With SONAR, you can know what’s happening in transportation as it’s happening, which means you can get ahead and get things done. Users have advanced insights into freight market trends, allowing them to better plan, price, communicate, and prepare for market swings.
FreightWaves is focused on addressing volatility in linehaul freight rates, where spot prices can swing as much as 40% in a single week on some major lanes. Volatility of truck capacity can be driven by a host of market conditions, such as weather, seasonality, regulations, and economics.
Carriers, shippers, 3PLs, and digital freight brokers all face the same challenges when it comes to volatility in the freight market, most notably, a severe lack of transparency and data-driven decision making. For that reason, FreightWaves has created an innovative SaaS (Software as a Service) platform, SONAR, that provides users a wealth of information, both proprietary and public, in a way that is clean, clear, and easily interpretable. Thanks to the wide range of data, everyone from an Analyst to a CEO can use SONAR in their day-to-day operations.
By the end of this guide, the user should have a better understanding of what SONAR is, the various indices currently in the platform, what these indices mean, and how to use it for both high-level and detailed market analysis. The sections of this guide will give an overview of the indices available within the platform, a few interpretations of these indices, and the granularities at which they are provided. Important to note, this knowledge center will be continually updated to keep up-to-date with the ever-expanding data and functionality available within SONAR.