Telematics data provides a wealth of information for fleet managers. The value of this data can be grouped into three areas:
- To inform strategic decisions
- To optimize fleet operations and safety
- To improve customer service
Combined, these three uses give companies a competitive edge – one that delivers cost savings, drives customer loyalty and elevates driver safety programs. The surprising thing is, only 30% to 40% of all U.S. fleets are currently using a telematics system to track and maintain their fleets. This gives fleets that do leverage telematics solutions an even greater advantage.
Below, we discuss the exclusive benefits and insights that telematics data can deliver.
Where and How Can You Maximize Telematics Data?
Vehicle Utilization Reports for Purchasing Plans
Telematics data provides vehicle utilization reports, helping fleet managers understand which vehicles are being over or underutilized.
Overutilized vehicles indicate a need to buy more of a specific type of vehicle, so that the fleet can keep up with usage while minimizing wear and tear on the current fleet. Underutilized vehicles don’t fit the needs of the fleet or the company’s customers and are thus wasting money.
These utilization reports are useful for informing buying and selling decisions – helping right-size the fleet for business and logistics operations.
Fleet Productivity and Real-Time Vehicle Location Tracking
With real-time GPS data, drivers can lessen traffic delays. Fleet operations managers can give new or extra site visits to the nearest vehicle and tell the driver the most efficient route to get there.
By knowing the exact location of every vehicle at any time, fleet and operations managers can make routing adjustments on the fly –adjusting to changes in traffic, breakdowns, difficult weather conditions and other impacts on their initial plan for the day. Through this, they can switch resources around to ensure deliveries reach customers when they need to. Plus, they keep clients informed about their delivery’s estimated time of arrival, increasing customer satisfaction through better customer service.
Telematics data simplifies administration and compliance. Through Electric Logging Device (ELD) data and automated mileage expense reports, companies are able to reduce manual administration and reporting. Telematics data also supports tax compliance reporting.
Fuel and Maintenance Costs
More efficient routing reduces the number of miles traveled, in turn reducing fuel consumption and wear and tear. Carbon emissions then fall, reducing the fleet’s carbon footprint. Tracking driver behavior also identifies areas of waste – such as long periods of engine idling, harsh braking or rapid accelerating – all of which helps further reduce fuel costs.
Telematics data also provides warnings about mechanical problems and maintenance needs, removing the need to rely on drivers to report them – with alerts coming from mileage, engine use and diagnostic codes. This cuts down the risk of breakdowns, unplanned downtime and disruptions to customer service.
Couple this with driver behavior data to track wear and tear in detail, and preventative maintenance planning becomes efficient and effective.
Fleet Safety and Risk Management
Telematics data offers a massive opportunity for risk and safety managers when it comes to optimizing fleet risk management.
If companies have the right level of visibility into their driver and vehicle data, they can gain a thorough understanding of driver behavior across their fleet. Real-time alerts on unsafe driving habits such as speeding, harsh braking, hard cornering, tailgating and distracted driving help companies establish faster, more proactive intervention strategies. It allows them to correct these behaviors before a driver causes a crash or other costly incident.
Crash alerts for FNOL management and emergency aid also come from telematics data. It even assists with crash reconstruction, helping insurance claims determine liability and identify drivers who aren’t at fault.
Leverage Fleet Telematics Solutions to Improve Driver Safety
By aggregating and combining data from telematics, sensors, training records, MVRs and other sources, companies can receive 360-degree visibility into key fleet risk management areas:
“Is my risk profile going up or down?”
“What high-risk behaviors are common in my business?”
“Which drivers are the highest risk and most likely to have a claim?”
“What incidents are happening right now that I need to respond to?”
Companies can answer these questions by leveraging telematics solutions that remove all the irrelevant data noise – a common problem with telematics systems. This approach provides sharp insight into their fleets’ risk, allowing them to deploy resources to address the issues and improve safety ASAP.
To learn more about how you can leverage your telematics and other data sources to improve fleet safety, download our free infographic!