Field service businesses are starting to tap into the power of predictive analytics. That is, they’re learning how to find patterns in their company’s data and using it to forecast various outcomes and events and to inform business decisions that impact productivity, safety, and cash flow. Think of it as taking “Big Data” to the next level. Business owners owe this capacity to technology—including fleet telematics solutions—that collect and deliver actionable data and have a proven effect on the bottom line.
Data-driven predictive analytics is already a trend.
In fact, the 2016 Gartner Magic Quadrant for Field Service Management projects that by 2020, two out of three large field service organizations will equip field technicians with a mobile application that drives profitability by creating revenue streams, efficiency and customer satisfaction.
How, exactly? A key word here is prevention. Field services companies are using the data from their fleet management solutions to predict the future to help prevent accidents, to help prevent unnecessary vehicle-related expenditures, and even to prevent workers from getting off-schedule (which prevents customers from getting frustrated). Let’s take a closer look:
Analytics for Fleet Safety
Consider these statistics from Automotive Fleet research:
- The total accident rate for commercial fleets averages 20%
- Driver distraction contributes to the 25-30% of all fleet-related accidents
- Accidents typically represent 14% of a fleet’s total expenses, not including soft costs such as downtime and lost employee productivity
Now’s a great time to explore 3 Ways To Get In Front Of Distracted Driving.
Aside from providing real-time visibility into vehicle location, fleet telematics solutions generate data that aids in the analysis of risky driving behaviors, like speeding and harsh breaking. This data can be used to develop workforce-customized training programs that drive—er, support—driver behavioral change.
That’s exactly what Automile customer and Loss Prevention Manager Eli Trevino at J. Rollins Construction does. He explains: “We closely monitor the safety incident trends within the company and use the power of data along with deep diving on cases from a qualitative perspective to get preventive measures in place. It is all about being proactive and watching out for what is working and what is not. Based on these trends, we provide relevant training to our mobile workforce/drivers.”
And ask yourself, Should Fleet Safety Be One of Your Top Business Priorities?
Analytics for Maximizing Budgets
New fleet vehicle purchases take a big bite out of the budget, so any data that can help a fleet manager make informed maintenance and buying decisions and plan ahead is remarkably valuable. Take it from Chuck Lamb, Fleet Supervisor at hth companies, inc., who uses Automile to perform predictive analytics. “By monitoring the mileage on the vehicles, and with efficient vehicle maintenance through reminders and notifications,” he says, “we can now predict how many vehicle purchases we have to make annually.”
Get Chuck’s full story in Business Spotlight: hth companies, inc. Shares The Importance Of Strategically Prioritizing Fleet Health
And read Automile Feature Showcase: Simple Notifications That Save Businesses And Lives to learn more about the custom alerts Chuck depends on to stay on tope of vehicle maintenance.
Analytics for Customer Service
It probably goes without saying that when you run a safer operation with healthier fleet vehicles, your customers benefit from your technician’s ability to show up on time (and in one piece). But there’s more. Fleet telematics solutions offer real-time tools like live maps and geofencing that keep field managers on top of any potential road issues or driver re-routings that impact staying on schedule.
While this real-time decision support isn’t necessarily predictive (it’s relying on in-the-moment as opposed to historical data), it’s preventive. It goes to show how the technology is remarkably adaptable and provides value at 360-degrees.
The accuracy with which Automile capture billions of data records helps with predicting trends and enabling fleet-related decisions, even those in real-time. We predict that you want to give it a try and you’ll love what you see! Start your 30-day free trial today!