The promise of big data has been touted for some time. In certain sectors—such as online retail, insurance underwriting and public health—its potential has been realized in the form of better customer insights, more accurate risk assessments and improved population health management.
In the commercial transportation industry, we’re on the cusp of an explosion in how data analytics can be used as the foundation for improved decision making, greater operational efficiency and a stronger bottom line. While some of the most progressive fleets have already embraced the power of predictive analytics, many in the industry may be reticent to explore what may seem like a daunting undertaking.
Have no fear. Omnitracs Analytics is your trusted guide to understanding how fleets of all sizes can benefit from the power of big data. As our experts shared recently during Omnitracs Outlook 2016, our proprietary Accident Severity Model (ASM) leverages hours of service data virtually every fleet has on hand to determine risk, assess the likelihood of severe accident events and indicate when timely intervention is needed.
While less severe collisions tend to be caused by distraction and errors in judgment, it’s proven that severe accidents—where loss of control occurs—tend to be caused primarily by physiological factors (e.g., sleep related) rather than behavioral ones. Accordingly, our Accident Severity Model and related intervention program focus on sleep quality and quantity, along with strategies to maintain alertness behind the wheel. At its core, the ASM integrates sleep science education and fleet operations.
Whether small, mid-sized or large; private or for-hire; truckload, LTL or local pick-up and delivery, fleets that implement Omnitracs Analytics’ ASM can realize benefits ranging from reducing litigation and settlement costs and improving safety to lowering operating expenses and enhancing productivity. We know you expect measurable ROI and we deliver. Drivers who have attended a sleep class reap the following benefits:
- Incur an average incident cost 7.2 times lower than other drivers
- Have half as many “loss of control” accidents
- Experience five times fewer “run off road” accidents
- Are nearly seven times less likely to have a service failure
- Are 30 percent less likely to voluntarily terminate employment
All this adds up to dollars and cents to improve fleets’ bottom line. To learn more about Omnitracs Analytics and the Accident Severity Model, visit http://www.omnitracs.com/solutions/data-analytics.
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