Posts by Michael:
Fortunately for fleet managers today, BI is an easy-to-implement tool that converts data sources into new opportunities. Using these key insights, managers can cut out ineffective guesswork and instead, strategize with informed, data-backed decisions. In this article, we explore the top five reasons why every fleet striving for total optimization should be using Business Intelligence for their data analysis needs.
Industry comparisons are a powerful tool that should be integral to any fleet management strategy. By analyzing your fleet’s performance metrics against industry benchmarks, you get a more accurate, apples-to-apples comparison and ultimately, deeper insights.
While we have recovered from the pandemic in many ways, there are new challenges within the supply chain that persist, adding another layer of complexity to fleet management and vehicle replacement. While managers used to plan replacement a year in advance, current lead times have increased to 2-3+ years depending on the vehicle class.
BI helps fleets to futureproof by creating a reliable and repeatable management strategy that is flexible to change. With the fleet industry changing so rapidly today, this helps managers look toward long-term success, focusing on cost-reduction opportunities and sustainable resource management.
One of the greatest benefits of implementing business intelligence is the ability to turn disconnected data systems into actionable insights. Once fleet data is streamlined and cleaned, BI bridges the gap between the initial point of data collection to seeing data-driven results.
Fuel is one of the biggest capital spends for any fleet, so detailed reporting on fuel spend is always important. As fuel prices rise, however, ensuring that reports are accurate is critical to a successful fleet budget and preventing fuel fraud.
There are two ways someone can gain the status of a true fleet data analyst. By spending years in the fleet industry garnering deep domain expertise, or by utilizing business intelligence as your secret weapon.
Managers spend over 70 percent of their time simply trying to consolidate their data into something comprehensible, leaving barely any time for drawing actionable insights from this data, in addition to carrying out all their other duties.
Business intelligence seems to be one of those buzzwords that companies throw around when talking strategy and futureproofing solutions, but many find it hard to actually define. Is it a system? A service? A strategic approach? In some ways, it is all of the above.