28 Feb 23

Converting data into cost-savings

This article is part of our E-Book on Cost Savings in 2023.

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Fleets need new skills to utilise data as their primary weapon in 2023. Eric Westdorp, Business Development Manager at Fleet Support, says converting the data to a helpful format opens up countless cost saving options.

Why is data so crucial?

Westdorp provides an example of sustainability: fleet managers go through fleet data to understand the fleet’s EV readiness. This insight helps fleet managers choose the right vehicles and continue using fleet data to increase efficiency.

What strategy should be used?

As data flows from multiple sources, fleet managers need to centralise, consolidate and then correctly interpret the data. At this point, ‘data miners and analysts’, and people familiar with the knowledge need to operate. If a business can’t invest in this, it can outsource data processing.

What tools should be used?

To use the data provided by OEMs, it must be transformed from the unique language of the brand into a uniform data language. Fleet managers are less interested in the data itself and more inspired by the insights it provides. Fleet data should be consolidated through business intelligence tooling, allowing fleets to set up their dashboards and reports and forecast accordingly to pre-defined KPIs.

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What are the vital cost-saving results?

Cost-savings can add up to 25%, according to telematics providers.
Some tangible results are:

Improved productivity due to higher vehicle uptime

  • Efficient route optimisation
  • Predictive maintenance

Improved driver safety

  •  Fewer damages
  •  Lower insurance premiums

Efficiency for the driver

  • Route optimisation, less stress
  • Automatic trip registration