5 Reasons Why the Top Fleets Are Using BI
Managing a fleet of vehicles can be overwhelming for anyone. Fleet managers wear many hats on the job and are tasked with managing various aspects of fleet operation, such as:
- Optimizing daily operations
- Waste reduction
- Preventative maintenance
- And so much more.
All of these aspects of management are crucial to keeping a fleet running smoothly, efficiency, profitably and with the least waste possible.
Fortunately for fleet managers today, Business Intelligence is a easy-to-implement tool that converts your data sources (such as telematics, FMIS, dash cams, etc.) into new opportunities and deep data insights. Using these key insights, managers can cut out ineffective guesswork and instead, strategize with informed, data-backed decisions.
In this article, we will explore the top five reasons why every fleet striving for total optimization should be using Business Intelligence for their data analysis needs.
5 reasons every fleet should use BI
Smarter decision making
Using BI as a fleet management tool can help managers make confident, informed decisions based on real-time data. While individual data sources can be useful for their respective purposes, streamlining them onto a centralized platform makes for actionable insights around metrics that matter most. For managers unsure of when to retire and replace their vehicles, Lifecycle Analyses can help to inform future decisions. For fleets testing out new sustainability solutions, GHG Reporting can highlight the best and worst performing vehicles, classes and even fuels when it comes to emissions output.
With insights like these, smarter decisions are easier than ever to make.
Increased operational efficiency
When it comes to day-to-day operations, every manager wants a fleet that is timely, productive and efficient. That being said, there are several areas where fleet efficiency can be improved, whether it be route optimization, vehicle maintenance, underutilized vehicles or technician productivity. Business Intelligence can help fleet managers to identify top areas of inefficiency, implement solutions and then track progress going forward.
Cost saving opportunities
Reducing costs is one of the most common goals for fleet managers. Still, finding cost-saving opportunities that don’t sacrifice fleet productivity can be tricky. Unless you go to your data for clues. By bringing together all types of fleet data for deeper analysis, BI becomes a crystal ball for opportunities. With comprehensive reports and personalized metrics, managers can quickly spot areas where they can scale back, such as vehicle idle time, fuel consumption, underutilized assets and more. With the data to back decisions and confidently propose strategy changes, BI inspires meaningful change at fleet organizations. Ultimately, these insights and cost-saving opportunities can have a significant impact on a fleet’s bottom line.
Supporting sustainability initiatives
Sustainability is becoming increasingly important to all types of fleets, with more fleets than ever setting goals, launching initiatives or at least looking into measures they can gradually implement. However, without accurate metrics tracking progress toward goals or monitoring the impact of sustainable investments, fleets can have a hard time proving their initiatives are successful. Our Business Intelligence platform makes sure that your sustainability goals are fully supported. Whether you focus is EV implementation, emission reduction or fuel optimization, BI turns your fleet’s data sources into a tool to help get you there.
Improved driver safety
While you might not think of data as a tool for helping you improve driver safety, BI gives us an actionable way of reporting on driver performance. Our driver scorecard combines safety metrics such as total speeding events, seat belt usage and a braking score to help managers understand how their drivers behave on the road. Break down scores by vehicle class, group and individual driver to track trends across your fleet, and track performance over time to improve coaching strategies.
The bottom line
There are endless reasons why every fleet should use BI and benefit from the array of actionable insights. Whatever your goals are, optimizing the use of your own fleet data can help you get there.
If you’re interested to learn how our BI platform and team of analysts can drive success for your fleet, schedule a quick demo with us today.