The use of big data has become popular in many industries, and for good reasons. The prediction is that the industry will grow to $103 billion by 2023.
It has changed how people work by enabling the Internet of Things platforms to function adequately. It has also revolutionized machines and changed how devices connect. Companies with many vehicles have not been left out in embracing fleet management and big data technology.
By adopting a data-driven approach to fleet management, businesses become more efficient in their operations. It generates in-depth insights into the use of vehicles in the fleet, as well as every driver's performance.
Data unveils all the potential issues before they escalate into problems. It also helps businesses identify new opportunities as well as track and report all the metrics that are most important to a business.
There's a plethora of data available to fleet managers today, making the industry more proactive. Here are ways in which big data has impacted the logistics and shifted the paradigm of fleet management.
One of the most expensive parts of managing a fleet in a business scenario is meeting the fuel costs. Traditionally, it's been quite an uphill task to forecast spending or manage costs with precision. Data analytics come in handy to help you track fuel usage, prevent theft, and measure fuel economy.
You can easily track if drivers are filling their private vehicles at the company's expense. The fleet management analytics give you the much-needed visibility to identify the problem and stop it. Fleet management software helps you monitor personal use against company policy.
With this data, you can build a clear understanding of fuel consumption across the business. Eventually, you can make substantial savings on fuel consumption.
Improved Driver Safety and Behavior
You can install onboard telematics sensors in your company vehicles to monitor driver behavior. For example, you can track their braking habits and speed patterns. This information is sent back to fleet managers to coach the drivers on better vehicle handling.
Sensors give real-time feedback to drivers to align their behavior accordingly. The systems can also connect to cell phones to block drivers from texting while driving. You can view the aggregated data to establish patterns and deal with any overarching problems before they escalate.
Managers can also get access to data in real-time and alert the driver accordingly. For example, when a vehicle's tire pressure is too low, the driver can have it fixed in good time instead of risking a costly breakdown.
Improved Vehicle Maintenance and Repair Scheduling
One crucial aspect of big data is predictive analytics. This is a field that has enriched vehicle maintenance and repair scheduling for many businesses the world over. Comparative data is available for identical cars in the fleet, enabling managers to create maintenance programs for each vehicle in the company.
It has become a lot easier to identify potential problem areas and deal with them before they become worse. This translates to a reduction in overall expenses and costly repairs later on. Fewer car breakdowns translate reduced number of accidents and fewer expenses in fleet management. Drivers can also work in safer conditions if companies apply fleet management and big data approaches.
Leverage Big Data in Fleet Management
If your company is yet to embrace big data in fleet management, this is the time to consider it. Experts anticipate that big data will be the vehicle to drive all significant decisions in fleet management. Driver-safety planning, vehicle selection, and maintenance management are key areas that the concept will revolutionize. You can work with experts with knowledge and experience in fleet management to ensure you remain compliant.