Fleet management predictive analytics shines through

Fleet management includes managing various aspects of commercial vehicle operations, including vehicle acquisition, maintenance, fuel, and driver management. Fleet management can be used to optimise a company’s transportation resources, lower costs, and improve safety.

Traditionally, managers tracked fleet performance using manual methods and self-reporting from fleet drivers. This led to errors, where many data inputs were either omitted or overlooked, and meant that fleet managers had to make decisions based on incomplete information.

However, predictive analytics is changing the game by providing managers with actionable insights that can be used to improve fleet performance. Predictive analytics uses historical data and predictive modelling to identify trends and patterns for a wide range of factors. This information can be used to make predictions about future events, such as vehicle maintenance needs or driver behaviour, and take proactive steps to improve fleet performance.

Predictive analytics makes forecasts about future events based on past and current data and trends. In fleet management, this can then be used to forecast factors such as vehicle maintenance needs, fuel consumption, and driver safety. Algorithms and data are used to make projections about future events, and can be accessed by using an established telematics platform with a custom dashboard.This information can then be used to take proactive steps to improve safety and efficiency and makebetter decisions about allocating human and vehicle assets and resources.  

When it comes to predictive analytics, operational and driver data are the two main types of data used. Operational data includes information such as vehicle location, mileage, fuel usage, and maintenance records, while driver data includes information such as driver behaviour, accident history, and traffic violations. There are a few steps required to arrive at a clear output for your analytics predictions: data collection, data cleaning, data analysis, and predictive modelling.

So, does this mean that fleet managers now need to have a dual master’s degree in analytics and statistics? It may sound like the benefits available through predictive analytics require some sort of deep understanding of analytics and predictive modelling techniques, but that’s not necessarily the case — especially with MiX Telematics’ robust predictive analytics solution, MiX KPI Manager.

Over the last few years, MiX has adopted newer technologies to introduce modern, alternative solutions for accessing and visualising data including, but not limited to, embedded dashboards for visualising aggregated data and trends, PowerBI to perform self-service analytics for retrieving and leveraging data, and MiX Integrate for the retrieval of raw data. MiX KPI Manager is built to leverage MiX’s powerful embedded fleet data and provides fully customisable self-service analytics. This allows clients to visually track their performance on specific issues impacting their fleet’s risk, safety, efficiency, and sustainability.

With MiX KPI Manager you can view risky driving events and set goals for improvement, as well as manage and track the progress daily, weekly ,and monthly – all with no manual reporting or data preparation to determine performance.

Contact MiX Telematics to learn more about how telematics and predictive analytics can change the way you manage your fleet.