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Guidance and results for the data-rich, yet information-poor.

Data Mining Helps Fleet Managers Make Better Decisions

FleetData mining can save fleet managers millions of dollars, according to The Financial Review. The article demonstrated ways that good data analysis and predictive modeling can help with a fleet manager’s most pressing problems.

For example, fleet managers can use these systems to determine residual values, which helps them make better decisions about purchasing, leasing, or selling their inventory. Residual value calculations are impacted by a number of different factors, and mistakes can cost companies dearly. The ability to get it right has an incredibly positive impact on managing both costs and cash flow. In fact, this value determination is the first place where the savings really start to add up.

Predictive modeling allows managers to adjust for the external factors that impact their business, factors like interest rates and gas prices that are beyond their control. Getting a clear picture of the ways that these issues will impact the fleet’s upcoming needs and challenges allows fleet managers to shield themselves from risk while keeping the fleet functional.

In order to reap these benefits, however, fleet managers need adequate data analysis training. According to Telogis, the leading producer of fleet management software platforms, “analysis paralysis” is one of the top 8 challenges faced by today’s fleet manager. Telogis estimates that fleet managers receive 36 million packets of data every day (assuming a fleet of 50,000 vehicles equipped with GPS devices). This highlights the need for fleet managers to understand how to deal with that data in a meaningful way, one that lets them make the decisions that matter most to them.

The Modeling Agency can help fleet managers make the most of their data. TMA offers comprehensive data analytics training courses which can help companies make the most of their assets while reaping million-dollar savings rewards for their fleets. Start by making the most of this free webinar, designed to help companies get a better understanding of data mining and predictive modeling.

 

Data Mining Webinar

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