DATA DRIVENHOW TO BUILD COMPETITIVE ADVANTAGE WITH FLEET ANALYTICS

OVERVIEWInnovation is crucial as your business responds to shifting market dynamics in an increasingly digital world. You need rapid access to accurate data that identifies new opportunities if you’re to build competitive advantage.

At the same time, operating a fleet of vehicles involves many practical and logistical challenges. Driver safety, regulatory compliance, risk management and fuel price volatility must all be factored into your plans.

Finding a way to reduce operating costs is the most significant fleet challenge facing your business, according to a recent survey conducted by Automotive Fleet. Reducing operational costs has become a daily battle as you look for new and inventive ways to make incremental savings.

While basic GPS fleet management solutions provide a dot on a map so you can track the progress of your vehicles, adding analytics to the equation dramatically increases their functionality. Now you can monitor and report on the key performance indicators that matter to your business, gradually improving the performance of your entire fleet.“You need rapid access to

accurate data that identifies new opportunities if you’re to build competitive advantage.”

Asking the right questions is the key to working successfully with data. What is it that keeps you up at night? The answer to that question varies from one business to the next because each has different challenges and objectives. The beauty of fleet data analytics is that it’s completely customisable, meaning you can focus on exactly what matters to your business. If you’re running a construction fleet, you might decide to focus on idle time to improve efficiency. For a fleet of plumbers or electricians, you’d like to minimise time spent on the road so they’re spending more time on site. No matter what the issue is, analytics can identify the use of every vehicle and the performance of every driver, increasing visibility and highlighting areas for improvement.

HERE ARE A FEW WAYS YOU COULD USE THESE RICH DATA SETS TO INCREASE COMPETITIVE ADVANTAGE AND STREAMLINE OPERATIONS:

THE POWER OF

ANALYTICS

FUEL MANAGEMENT

Fuel accounts for a significant portion of operational costs. Analytics let you track fuel economy, cost and even theft to provide a clear picture of fuel consumption. By using targeted operational data, rather than enterprise-wide totals, you’ll have visibility down to individual vehicles and drivers. This data can also be used to assess when vehicles are being used for personal use and monitor how this tracks against company policy.

LEASE MANAGEMENT

Managing the leasing arrangements across a large fleet is difficult. Using analytics, you can predict how many kilometres a vehicle is going to travel and identify those that are being overused before it becomes a problem. If you have a few vehicles clocking up less than their allowance you can readjust arrangements next time to make sure you’re getting value for money. It’s easy to waste a lot of money if you don’t track leasing arrangements.

ASSET UTILISATION

Analytics will help you build an accurate picture of how your assets are being used. No matter how long you’ve been in the job, or how well you think you know your business, real data is more reliable than your gut instinct. These tools will allow you to track individual vehicles or whole fleets more precisely. You might find some assets are lying idle, meaning you can downsize the fleet, or that others are in need of servicing after heavy use.

CONTAINER TRACKING

You can customise tracking based on industry, vertical, business objectives and pain points. This provides a more in-depth understanding of your costs and will help validate contractor claims. You may want to know how long a container spends at a depot, or if it’s spent longer than expected at a customer’s site. No matter what your challenges are as a logistics operation, container tracking will improve your efficiency.

IS ANALYTICS RIGHT FOR YOUR FLEET?

ANALYTICS ISN’T FOR EVERYBODY. HOWEVER, IF ANY OF THE FOLLOWING CHALLENGES SOUND FAMILIAR TO YOU, A MORE DATA-DRIVEN APPROACH COULD BE THE KEY TO UNLOCKING BUSINESS VALUE:

ASSET MANAGEMENT

Are you managing assets and wishing you had a better understanding of how they’re being used? Do you want to make informed decisions based on real data rather than assumptions? Whether you have 15 or 1500 vehicles with telematics installed, analytics will help inform the business decisions you make.

TIME ALLOCATION

If you’re spending more than one day a week crunching data, you’re wasting valuable time when a machine could do the job for you. If you’re looking to introduce structured reporting across your fleet, data analytics will help you set key parameters and track how the fleet is performing while reducing the time you spend on it.

LACK OF VISIBILITY

Do you struggle to build an accurate picture of how your assets are being used, how drivers are performing and how operating costs are tracking? Analytics will provide you with a daily update on the metrics that matter to your business, incorporating all of your business rules and enabling you to access information wherever and whenever it suits you.

© 2016 Teletrac Navman

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To learn more, call 0800 447 735 or visit teletracnavman.co.nz