For years major industries have used broad aggregated data-sets to provide real-time market indicators and econometrics. These data-sets help market participants gain a perspective of what is happening in the market at any moment. This is particularly true in the commodity markets, where real-time market data indicate supply/demand information and provide users an opportunity to better price their products. Financial traders also use market information to identify opportunities to take positions and trade based on indicators and correlations that suggest where the market is headed. Traders use this information to trade specific commodities, or to trade other financial instruments that might be correlated.
Trading on the theme of real-time data and econometrics, FreightWaves, a developer of financial instruments in the trucking sector developed Sonar Dashboard to give trucking market participants real-time market insights to make smarter decisions more quickly and easily.
Sonar Dashboard brings in millions of data points to provide real-time market indicators of what is happening in the trucking market.
FreightWaves partners with a number of major transactional data providers across the trucking landscape. A number of the companies are already providing index data to their customers and Sonar is a dashboard that consolidates the information. Other data sets are proprietary and are not found anywhere else. In cases where Sonar is offering third-party indices and the data is available- the company name and source is listed on this site. Otherwise, the data points are being aggregated across multiple sources and are proprietary.
All data is derived from actual market sources and are generated from specific transactional inputs. Because the data is actionable in both the physical and financial markets, there is a substantial amount of time and capital investment that goes into developing the index methodology.
While the Dashboard is functional and intuitive for most daily activities- we recognize that more sophisticated clients will want to obtain data via download for quantitative analysis. In cases where TransRisk owns the data and has rights to directly license- we will certainly do so. In cases where our partners own the data- we will provide an introduction and referral to those data partners.
FreightWaves is always looking for new and interesting data-sources that wish to partner and potentially monetize their data. Contact partnerships@FreightWaves.com if you are a transactional data vendor in the space and collect transactional data. All data is anonymized and turned into a market index. We do not want customer/carrier/broker specific info- we want data that indicates market trends for econometrics purposes.
The Sonar Dashboard is a wholly-owned product of FreightWaves and was developed to provide real-time insights and trucking news in the freight markets. FreightWaves is based in Chattanooga, TN, the heart of Freight Alley.