I recently made my final appearance on HDT Talks Trucking's three-part Leadership Insights podcast series. It was a pleasure chatting with Jim Park over a range of data topics relevant to the transportation industry, including taking safety to the edge and turning data trends into action.
In my final appearance, we dove into utilizing algorithms and data convergence to build efficiencies. Then, we discussed the relevance of data insights for large and small fleets. You can listen to the full episode here for an in-depth discussion. Read up on a few of our main conversation points below.
Embrace data innovation for evolving business management needs
As Jim shared, data technology has propelled forward over the past five years. Data convergence is a central focal point for us, and welcoming SmartDrive is helping us turn that vision into a reality.
The transportation industry has a bright future ahead, and Omnitracs contributes to that future as an innovator in fleet intelligence. When we talk about convergence, we mean merging devices in the cab and bringing together data from those devices. We don't want separate devices for navigation, workflow, telematics, and video. As processing and storage capabilities on devices get higher and higher, we can squeeze more functionality into one robust device. That convergence also aligns with the convergence of data, which gives fleet leaders the ability to view and process all the meaningful information they need from one data stream, all in one place.
The role algorithms play
Algorithms play a pivotal part in making our data work. For example, the algorithms in Omnitracs Navigation help customers navigate different routes with turn-by-turn directions. We've also incorporated indicators for black spots, which are areas with high-frequency issues on a day-by-day basis, in that solution.
Using algorithms can predict the likelihood of a driver quitting based on hours of service data. How much time are drivers spending away from home? What are their average times between breaks and loads? We can use these insights to develop predictors into overall driver satisfaction and proactively alert managers, so they can work on improving those rates and keeping qualified drivers.
From a vehicle health perspective, we're working on setting up our algorithms to monitor engine, tire, battery, transmission data, and so on. We can also draw correlations between when the signals exceed the acceptable range and when things break.
Gain ample benefits for your fleet — no matter the size
From compliance benefits to reducing cost leakage, data brings benefits to all businesses. No matter your business size, big data insights are often challenging for humans to find and understand because there is limited time and ability to focus given the vast amounts of data.
Large fleets need the ability to integrate disparate data and apply algorithms to support their business operations. A robust platform with pre-cooked data and algorithmic recipes can result in significant insight. Every dollar saved can be even more meaningful for smaller fleets, where the budget is often tighter. Smaller fleets don't have large IT departments at their disposal, so they can significantly benefit from data reporting capabilities and analytics that are easy to understand and do not require many hands touching it.
For all-sized fleets, quality data and insights equate to business optimization and maximized savings. Driving along a traffic-filled route you don't need to be on or waiting at a dock during an extended wait period are two of many examples that result in leakages in your operational costs. Real-time data and historical insights from comprehensive analyses can prevent these issues.
It was a pleasure diving into data with you. At the end of my final appearance on the podcast series, I compared quality data to quality friendships. I believe it's a sentiment that encompasses my overall perspective on data and analytics in our industry and beyond. So, I advise once more that you treat your data as your best friend. Like all good friendships, if you nurture your data and embrace it, it will pay you back in spades.
Be sure to tune in to the full episode here! If you haven't had a chance, read the first and second recaps of parts one and two of the series. The data team and I will be back soon for more insightful takeaways on our Road Ahead Blog. Stay tuned!