Ever wonder how much freight is coming out of a market and which market reigns supreme in terms of total volume, on a daily basis? You now have the opportunity to find out and visualize it the latest SONAR release.
The latest index to be added to SONAR is called Outbound Tender Market Share (OTMS) and gives users the ability to track how much volume is coming out a single market and because the delta indices have also been added on the same index, users can see visualize market share overtime. The data is also available to be charted for the US under the ticker OTMS.
For instance if you wanted to see how much freight is originating in Atlanta compared to the whole country, you would type into SONAR: OTMS.ATL.
In the above chart, it shows that the Atlanta ticker is at 4.55. This means that in the entire USA, Atlanta is producing 4.55% of all the freight out of 135 markets. In early July, Atlanta got as high as producing 5.1% of all loads in the entire country.
If you are interested in seeing how freight markets move over time and throughout seasons, market share is the best way to visualize that.
Who would want to know this? Load planners, dispatchers, drivers, market technicians, and site planners. If you are trying to figure out which markets are seeing higher turndowns and higher spot rates, but not sure if it is volume related or just a market flux, this indicator is perfect.
SONAR is a data-rich visualization dashboard that allows participants to make better operational decisions and plans. SONAR, built by FreightWaves aggregates data from hundreds of sources, representing hundreds of thousands of individual tickers in 135 total markets. SONAR comes packed with a data charting system, map presentation layer, watchlist and news aggregation feed. SONAR data is alos available via API to enhance decision support and operational execution systems.
If you are interested in learning more about SONAR setup a demo.