Analyze your data to reduce costs and to drive revenue and growth for your business.
A Fleet Management system can help to facilitate your daily activities and help your team work more efficiently, but it also generates many reports. Some of these reports are often overlooked, but they are a goldmine for your company. You make a positive impact not only in your finances but also on the safety of your drivers when you take advantage of your data.
The reports generated by your system needs to be analyzed properly to leverage the maximum benefit for your business. Many managers and business owners have realized the following benefits for their companies thanks to data analytics:
- Adjustment of the fleet size
- Timed maintenance with reduction of downtime of their fleet
- Driver behavior
- Fuel economy
- Accident reduction
- Cost cutting
- Savings on insurance
“Excellent resource – convenient and useful. We use it for invoicing back up, employee discipline and fleet maintenance tracking. I highly recommend this product,”
– Rachael Duhamel, Lead Dispatch at Patrick Sprack Ltd
You need to analyze your fleet data if you want to increase the financial benefit to your company. Here are some recommendations you can follow to leverage the analytics generated by your Fleet Management system:
Give your data the attention it deserves
Managers often take for granted the data generated or it is not used properly or not used at all. Your manager should know the details generated by your data, how is it connected, how is it measured, how does the output looks like. The more your manager understands the data, the more your company will be able to leverage the features of your Fleet Management system, which will result in positive changes throughout your fleet.
Use data on your fleet to provide better insights into your business
Be proactive with your data, use it to predict component failures or breakdowns, which will allow you to avoid costs by minimizing downtime and unwanted incidents. By monitoring driver behavior, you can not only establish rules to control speed, idling, and harsh braking, you can also determine gas consumption and even know when you will need to change your tires. You will also be able to show those numbers to your insurance company, and more likely you can enjoy some potential benefits. Check my Fleet Solution from Intact from Intact for details on potential savings.
Incentives and rewards
Another good practice for Fleet Management is creating rewards and incentive initiatives based on your data; this encourages care and engagement within your team. You could create a competition such as best driving, lowest gas consumption, lower idling time with your drivers based on your data, and this will not only reduce millage, footprint, gas consumption but it will develop good habits.
You can also create incentives for your drivers with a rewards program. This is an excellent motivational tool; supported by the data generated by driver behavior, with a rewards program your team will be disposed to the right behaviors that benefit the organization.
Think about this hypothetical situation that has happened to some of our customers: You receive a call regarding an incident that involved one of your drivers, by checking the data from your harsh braking and speed, you will be able to know if your driver may have contributed to the incident or not.
By using telematics data, you can connect the harsh breaking data to the incident information, and then you will be able to identify drivers with higher harsh braking tendencies which might lead to a higher accident rate. With this information, you will be able to create and implement an action plan for better driving and relevant training.
There are many more productive uses of the data generated by your Fleet Management system. Get in touch with our specialists today to learn more details and benefits of your reports.