A Reminder Why You Don’t Have to Feel Challenged by Big Data
You’ve heeded the advice from all the top business and strategy experts to collect Big Data from your fleet; you know what you have been capturing: all the odometers and fuel information, notes on maintenance from the mechanics doing the work, cues from onboard trackers about your drivers’ behavior, and so forth. Are you overwhelmed yet? Unless you understand why you’ve collected all of this Big Data, it’s likely you still don’t have a solution for using it to change the way you run your fleet.
The key is to focus on the outliers. Find the areas of your fleet that are costing more than average. You may find these costs relate to erratic driving behaviors, excessive gas usage or aged vehicles. Data analytics will help you identify these improvement opportunities that could save your company time and money.
Not sure where to start? Here are four tips to help you turn your data into action:
- Set clear objectives –Identify how your fleet aligns with and supports your business. Then set financial and performance goals that position the fleet to contribute to the sustained success and growth of the business.
- Determine the data you need – Find the data that has a direct correlation to your goals for supporting the business (productivity, safety, efficiency, etc.).
- Focus on outliers –Target the data relative to your goals that falls outside the norm and areas adjacent to those costs that may be contributing factors.
- Establish actionable items –Put a plan in place to address the unfavorable data in order to make a measurable impact.
20% of your vehicles could be costing 80% of your fleet spend.
Big Data will help you identify which vehicles are the biggest offenders for keeping you from your goals. Once you know which vehicles are costing you the most, predictive analytics will help you determine why they need your attention. This gives you the means to implement a proactive approach for future planning and with confidence in your decision-making.
The team at ARI can provide insight and tools, and show you ways to set your strategy to control operating costs and support your organizational objectives. To learn more, visit FleetDataSolved.com