Creating managerial reports with iQ Benchmark

2 minute to read

DAT iQ Benchmark Training Tutorials - 3 - YouTube

Tap to unmute

DAT iQ Benchmark Training Tutorials - 3 DAT Freight & Analytics

DAT Freight & Analytics39.2K subscribers

It's a common practice for many users to compile various data visualizations into a PowerPoint or email for regular updates to their managers. These updates can range from weekly to monthly, with a special emphasis on annual reviews for top executives.

Position to Benchmark Trend

Begin with the "Position to Benchmark Trend" view, located in the top left corner of your dashboard. This view addresses whether your rates are higher or lower compared to the industry standard.

• Set the time range to "All Years."
• Hover over the most recent year and capture a screenshot. This provides a clear comparison of your rate performance against your peers over time, serving as a compelling piece of evidence in your report.

Addressing Common Queries

Senior management often inquires about situations where your performance exceeds that of your peers. This provides an opportunity to use data and analytics for storytelling, highlighting the distinct elements of your operations that lead to superior performance. These factors might include:

• Longer payment terms than usual
• Heavier trailer requirements
• Long wait times or specific service requirements

Understanding and conveying these nuances are crucial in contextualizing your rates and performance.

Viewing and sharing additional insights

Annual and Monthly Trends

• For a more granular analysis, focus on the most recent year and select "Months" to display trends year to date by month.
• Consider highlighting the most recent or current month's performance by geography, which illustrates rate performance across different regions.

Long-term Comparisons

• Another useful view shows how your rates compare over time against all contributors, with your rates in purple and others in gray. This contrasts with the earlier bar chart by detailing how rates have evolved rather than just comparing them at a point in time.

Percent Spot Loads

• Percent of Loads in the Spot Market: Especially relevant when market conditions are tight, and spot rates are significantly higher than contract rates. This metric can offer insights into the mix of contract versus spot rates over time.