Fleet Advantage released its latest comprehensive industry white paper report – “The Future of Transportation Fleets: How Business Intelligence is Steering More Profitable Decisions.” The report takes an in-depth look at opportunities presented to transportation fleets utilizing Business Intelligence to drive operations and overall organizational financial strategies.
According to a recent industry survey, while Big Data has been increasingly used across virtually every industry, approximately 33 percent of transportation fleet executives said they still do not have a software platform that allows them to manage their fleet’s total cost of ownership (TCO) all in one place. This is significant since the future of transportation fleets is centered around Business Intelligence. Everything from pricing, operations, truck maintenance, financial decisions and logistics are all based on platforms that leverage, absorb and properly analyze the right data that creates a distinct competitive advantage for fleets.
Fleets today are inundated with reams of countless data that comes in from a variety of channels, such as the truck’s Electronic Logging Device, On Board Computer data through telematics, odometer readings, fuel tax documentation, and Maintenance and Repair (M&R) software providers. This unstructured, raw data from many disparate sources is difficult for fleets to interpret and analyze for their benefit. Business Intelligence enables fleets to take an exhaustive look at the utilization of a truck, and then through data analysis identify insights and key trends that help executives make critical decisions on each individual truck all the way up to larger, organization-defining decisions that drive profit.
Fleet Advantage’s industry report includes fleet key performance metrics that are used today, M&R data functionality, and what to know when choosing a system and provider.
The report also looks at the future of lifecycle asset management and technology resources being leveraged by leading fleets even today. Resources that provide insight into areas such as M&R data, vehicle performance and utilization, fuel economy, exception and non-reporting units, and replacement vehicle savings, along with finance costs - providing a holistic picture of the total cost of operating the fleet.
“Business Intelligence has become an important strategy and resource for any leading fleet today, and will continue to grow in importance as the demand for shipping and transporting goods remains a cornerstone of the economy,” said Jim Griffin, CTO and COO of Fleet Advantage. “Data and technology that captures, analyzes and interprets fleet operations, truck utilization and asset management will help fleets better manage their TCO spend, which will position them more competitively into the future.”
Download the white paper here.