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March 15, 2018

Data Analytics and Its Use in Fleet Management

The application of data analytics in every industry has become imperative, and the data in fleet management sector is no exception.

Since data generated in fleet management are sensitive, it can be put to use in many ways so as to increase the overall efficiency of the fleet.

Let’s have a look at how data can be used.

Power of Fleet Data in Management

Modern transport operations have started to include vehicle telematics as an integral part of their process, which mainly consists of tracking and diagnostics in particular.

More fleet managers have begun to recognize and understand the needs of their drivers, fleet, and customers and are starting to leverage the power of big data for this purpose.

The daily data that fleets generate are massive, ranging from telematics info to conditions of road and even vehicle health status. 

The information that is available to fleet managers can be used not just to understand historical events, but also to make decisions for the future and manage existing operations.

Many fleet managers have already started to adopt vehicle telematics to monitor their vehicles in real time, providing them with data that allows them to support and protect their drivers and fleets and also optimize their business.

The most effective way to get visibility in fleet management is by adopting a data-driven approach. Data helps identify potential issues before they become a problem and will also assist in recognizing new opportunities.

The significant advantage is that it's entirely customizable so you can choose metrics that matter most to your business and use them to track and report activities.

Enhancement of Fleet Productivity

It is understood that the effects of big data and predictive analytics on fleet productivity is highly favourable. With the right usage of data analytics, the fleet industry can even achieve better productivity.

There will be accessibility to more fleet data which will improve efficiency and gain the capability to make the substantial increase in driver and vehicle productivity.

Research suggests that as early as 2004, UPS turned to fleet data to improve efficiency, and it was discovered that in on-going traffic, making left turns wasted time and fuel, and led to a lot of accidents.

It resulted in the ‘minimize left turns policy’, that ultimately saved UPS over a million gallon of fuel every year.

Today, SaaS fleet analytics providers can help develop and implement benchmarks and best practices for increasing efficiency, reducing costs and emissions, and keeping drivers, vehicles, and payloads safe by empowering enumerable fleets of all sizes, across different industries with the data available from them.

Utilization of Assets

You can understand and analyze how each vehicle in your fleet is being used with the timely information provided by fleet data analytics. It helps you get an accurate picture instead of depending on paper trails and gut instinct.

For instance, you can use the data to find out which individual vehicles or items of machinery are spending more time lying idle, or which ones are in need of servicing after exertive use for a prolonged period.

By assessing how the vehicles in your fleet are used, you can implement necessary changes which can save time and increase efficiency. It helps to improve operational efficiency and efficient employment of workforce.

Management of Fuel

Any vehicle requires fuel to run on, and that is an expensive part of managing a vehicle fleet. In the past however it used to be challenging to maintain costs or forecast spending with the exact accuracy.

Data analytics lets you measure and track usage and even help prevent thefts. With the convenient facility to track individual vehicles and drivers, you can monitor the usage and compare it against company policy.

For example, if your drivers are filling up their private cars on the company’s account, analytics will help you by providing visibility and identify the problem to put an end to it.

You can get a clear understanding based on this data of how fuel is being consumed across your business, which will enable your company to save substantial amount of money.

Improving Business Success

If fleet managers leverage upon big data, it can improve their chances of success.

All aspects of fleet management including crucial decisions like vehicle selection, maintenance management, and driver safety planning, etc. are achieved and performed with the help of this data. 

Fleets can improve efficiency, operate with fewer resources, and show an increase in productivity with the continued use of fleet analytics and accessibility to more fleet data.

Importance of Implementation

While this technology can be used to improve fleet performance and road safety, its application is what makes it all the more effective and efficient in bringing results.

Although the benefits of employing this technology can generate the data needed to manage risk, it is appropriate implementation of this data which is the key to success.

It is crucial that the systems and processes are first in place and is active before any technology solution is introduced. Choosing the right vendor for technology is critical to make proper use of technology.

Fleet managers should receive comprehensive training and information about the technology during training.