When a company decides to start the journey of selecting and implementing a telematics solution, there are usually two key aims behind this decision; firstly, to improve safety and minimize incidents, and secondly to lower costs and save money by creating efficiencies within the organization.
In fact, these two aims can overlap, for example preventing accidents can not only save lives, but also save money on replacing damaged vehicles.
Today there are a wide variety of telematics solutions on the market, and this number is increasing every day, alongside an expansion in capabilities. Telematics development is shaped by the world around us and this world is changing at a rapid pace.
With so much development and progress in AI and driverless car technology, how will this impact our cities and infrastructure in the not-too-distant future? How will businesses run, what will be the priorities of people and governments, what types of transportation will be in place, and how will we be transporting our goods and our people?
The Internet of Things era is truly upon us. In 2012 the number of connected devices reached 8.7billion - surpassing the number of people in the world - is estimated to be at 30 billion devices today and is expected to grow to 50 billion devices by 2020. That’s a lot of IP addresses vulnerable to attack, and with every device added, the risk increases. How many devices will be connected by 2030?
In addition, data connectivity will be cheaper and further reaching, and the anticipated advances in AI, Robotics and Automation will further enable us to make sense of the world around us. In this new world, Telematics allows us to connect our fleets and generate data. However, exploiting the data will be the key, data alone is useless. The opportunity will be in analyzing the data to gain insights, and then in acting on these insights to drive efficiency and safety.
Telematics provides the means to track and monitor your fleet and employees, and it generates vast amounts of data. The true value of such a system is only realized when this data is processed, analysed and opportunities for improvement identified and acted upon.
Investing in technology in any area of a business is rarely enough – it’s simply the first step on a journey to improve; a continuous journey that never ends! People must be trained to use the system, processes must be put in place to ensure it is used properly in line with the existing operational management of the business.
Once the tech and processes are in place, a continuous cycle begins, one of acquiring data and knowledge, analyzing and learning, and then making informed change to improve the business.
At Restrata, our business model is based on three service lines that link together to provide one holistic solution. The information that we take from out tracking solutions determine additional services to help our clients maximize their business performance.
A perfect example would be saving money on fuel consumption. There are numerous reasons as to why fuel can be wasted – drivers could be using the vehicle and thus the fuel for his own use, or even directly stealing the fuel from the tank to use in a personal vehicle. Telematics provides methods for identifying these types of issues which can then be flagged and the perpetrator held accountable.
However, harsh driving styles can also consume higher levels of fuel; a telematics system can identify this by providing data averages on individual drivers. Those consuming higher levels of fuel could be placed on training courses, monitored over a set period of time and effectively encouraged to driver better and use less fuel in the process. By monitoring the system, we make sure the drivers maintain the new approach and ultimately by analyzing the data a few months down the line, the business can assess the value of combining tech and training.
Businesses are becoming increasingly data lead, and this requires continuing investment in technology as we have seen with telematics. It is thus imperative that, in order to remain competitive and profitable, you at least stay in line with the curve – rest assured you will have competitors who are ahead of it. However, technology alone is not enough; investing in people and processes is key and data is useless without analysis and making changes based on what we learn from it.