How to Mine Your Fleet’s Data for Answers13 Jun 2018, Posted by General, Industry Information in
If you are struggling to find why problems are occurring within your fleet, mining data is the best place to start. Upon digging, you may find there are mishaps in your commercial fuel services, driver behavior, or even vehicle malfunctions that no one has brought to your attention. The biggest benefit of reviewing your data is being able to make well-informed decisions that could save your bottom line. However, it’s critical to know how to rummage through your information to reap the rewards and find solutions to your most pressing challenges. Keep reading for easy steps to mining your fleet’s critical information.
What Kind of Data do Fleet Managers Need?
If want to mine your data, you must first know what information you need to gather in the first place, adjusting your system in order to assimilate this data over time for future analysis. Be sure to gather data on your fleet inventory, knowing exactly what equipment and assets you have, including things such as the make, model, year, odometer, and service date of your assets.
Also, be sure to collect data about maintenance and repair issues, looking at the costs associated via VMRS code and assessing spending trends across your fleet of trucks. Fuel economy information is also great to have, as it influences your fuel efficiency. In addition, you should assemble anything regarding financial matters (such as interest rates and inflation) and resale information, keeping an eye on the second-hand market for used trucks and parts.
What Can Fleet Managers Do with This Data?
After amassing this wealth of data, commercial fuel services can easily determine the optimal life cycle for their equipment and fleet, knowing the best time to replace each asset and maintain their fleet. This allows the manager to optimize performance and durability whilst remaining cost-effective going forward.
This data essentially provides the manager with “total cost of ownership” (TCO) information, which covers includes utilization, new equipment costs, inflation rates, used trucks values, repair costs, fuel economy trends, fuel costs, interest rates, and much more. To remain competitive and to stay afloat financially, having TCO data is invaluable to fleet managers who must adhere to strict guidelines and optimize the efficiency and productivity of their fleet. Knowing all this information can be crucial in making sensible decisions regarding your fleet.
Looking for more information on mining fleet data to acquire answers to your most pressing questions? McPherson Oil can help! Our dedicated team specializes in fleets and commercial fuel services, possessing a wealth of expertise and experience in mining data to prevent problems, solve issues, and streamline overall truck fleet efficiency. Contact us today to learn more about a custom solution that’s right for you.
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