What Big Data Means for Your Fleet27 Jun 2018, Posted by Industry Information in
“Big Data” is the kind of phrase that you may hear being thrown around a lot by business executives and results-driven company cultures. Put simply, it refers to the massive amount of data that we are now able to observe and analyze thanks to advances in data analytics and technology. However, with these new technological advancements, what does big data have in store for your fleet and commercial fuel services?
Big Data Offers a Bird’s Eye View in to A Fleet
As the name implies, “big data” is a lot of data. A lot. Previously, data was discussed in the form of megabytes, but this has now graduated to become petabytes and exabytes, which get into quadrillions of bytes.
In fact, more data is uploaded to the internet every second than the total amount of data on the internet 20 years ago. For fleets, this means that you will have access to a grand amount of data, harnessing it to maintain an omniscient overview of your fleet at all times.
Faster Speeds Than Ever Before
If you’re looking to receive data on your fleet quickly, you’re in luck. You can now obtain data in real-time thanks to advanced processing speeds. This advancement lets managers monitor their fleets without having to wait hours (or minutes) for the data to reach process.
How Fleet Managers Can Use Big Data Analysis
Big data analysis maximizes productivity, lowers expenses, and helps make well-informed business decisions. Big data is useful for eliminating blind spots in your fleet and fully understanding how it works.
However, a fleet can also benefit from big data insights, like understanding the causes which lead to an issue (rather than just identifying an issue and resolving it). This level of understanding can lead to preventative measures that streamline the efficiency of your fleet in the long run and stop future problems from arising.
GPS tracking, for example, provides a great amount of data, much more than basic telematics. Although GPS tracking can be used by fleet managers to observe the locations of their trucks, it can also provide them with more in-depth insights into their fleet. This depth of information helps them identify patterns and behaviours that may be causing bottlenecks and unforeseen problems for the business.
Managers can also use big data analysis to monitor driver behavior. You are able to produce scorecards for drivers, meaning you can reward their decisions and take action for those who are underperforming. Driver scorecards may also contain patterns of their own (such as bad habits) enabling you to retrain your drivers and incorporate future training sessions for new drivers.
Big data is overwhelming, but focusing on cost savings doesn’t have to be. At McPherson, we guarantee that our knowledge will save you money and time. Contact us today to learn about our total petroleum management solutions that we’ve spent 40 years refining.