The current outlook for the rail freight industry is, at best, mixed. Where rail freight once was the price-competitive transport mode of choice, low fuel prices and increased availability of trucks in the spot market have resulted in low freight rates that are expected to remain low. Simply put, it is becoming increasingly difficult under current circumstances for rail freight operators to earn sustainable margins and create returns for shareholders. However, when done right and enabled by predictive analytics, pricing can be the most powerful profit lever available.
In this episode, Dr. Edwin de Jong, Head of Predictive Analytics Technology at Quintiq, discusses the current challenges rail operators face today and how leveraging the power of pricing analytics can help them get back on the track to profitability.
- What are the limitations and drawbacks of the traditional pricing approach?
- What is pricing analytics? How does it differ from the traditional pricing approach?
- How does pricing analytics drive increased profitability?
- What key capabilities should companies look for in a technology solution?
- What steps should rail operators take to get started?
After watching, post a question or comment for Edwin and keep the conversation going!
Podcast version (click to play):