The quality of a prediction can be best understood with two simple measurements: accuracy and precision. Accuracy is how often a dart hits the target. Precision is how closely grouped the darts are.
Below is an illustration comparing ClearMetal predictions to ocean carrier ETAs. It is also important to note that ClearMetal predictions improve over time as more data is collected over each trade lane, facility, and partner.
A better prediction will
Have more darts hit the center target
Have a smaller outer circle
While the quality of event predictions for container vessels and ocean container shipments can vary by trade lane and transportation plan, the above visual represents the prediction performance across 1% of all ocean container shipments covering all major lanes over two years of history. For this analysis, the ocean carrier ETA provided at the time of either receipt, container load, or vessel depart (depending on ocean carrier) is compared to ClearMetal's current prediction. This comparison looks at two milestones, when a vessel arrives at its destination port and when a container arrives at its inland destination.