Business analytics for Fleet Management
An administrative approach that allows companies to organize and coordinate work vehicles with the aim to improve efficiency, reduce costs, and provide compliance with government regulations is called as Fleet Management. Fleet (vehicle) management can include a range of functions, such as vehicle leasing and financing, vehicle maintenance, licensing and compliance, supply chain management, accident management and subrogation, vehicle telematics (tracking and diagnostics), driver management, speed management, and fuel management. Using data analytics techniques like Predictive analytics and Diagnostic analytics helps organisations in fleet management. This analytics helps fleet managers to solve a wide variety of problems before they even materialize. While mining this data and analysing it, fleet managers can predict problems, trends and behaviour patterns.
Volvo Trucks cut diagnostic time by 70%
Mr. Conal Deedy, Director, Connected Vehicle services –Volvo and Mack trucks is responsible for leading the connected vehicle strategy development and execution for Volvo trucks and Mark trucks, North America. This responsibility includes commercialization of external customers offering for fleet management and industry leading diagnostic solution leveraging the standard fit telematics technology.
According to him, when Volvo introduced remote diagnostic using real time analytics with SAS, it cut diagnostic time by 70 % streaming issues & schedule predictive maintenance for its fleet in real time. It also cut maintenance time by 25%.Collected data thorough IoT is continuously provided to customers through SAS data analytics platform, and customer is intimated with predicted most possible time for maintenance. This in turn reduces diagnostic time by 70 % and maintenance time by 25%.
Data Analytics driving success in Air Asia and GE analytics:
In an year AirAsia handles 3,40000 flights,100 destinations across 22 countries. During these all operations Air Asia uses 12,000000barrel fuel which is approximately 1.4 Billion KG.GE and AirAsia are using advanced data capture and analytics to create world’s most efficient airlines. Average AirAsia passenger load factor is 80%.GE flight efficiency expertise data capture and analytics software help AirAsia to save 1 % of their fuel bill that year, means on an average 250KG of fuel savings. These savings ensures AirAsia customers can fly to more destinations than any other carrier in the region.
Skillville View Point:
Data Analytics is helping fleet managers in various ways and helping businesses in deriving insights on profitable business decisions. These data analytics platforms are designed with a clear perspective of predictive or diagnostic analysis. These are adopted by various travel business companies and helping them in predicting the most profitable business format.
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