“Big data” is a term used to represent large, complex sets of data. This data is vast because in today’s world, data is generated in real time by many sources, including people, vehicles, and devices at all points on the supply and demand chain. The list of data points and sources is ever-growing and can include hundreds if not thousands of sources.

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HARNESSING THE POWER OF BIG DATA FOR FLEET MANAGEMENT
OVERVIEW
Today’s connected fleet generates a constant stream of data from the many
activities involved in successful fleet operations. This data needs to be captured
and analyzed so that managers can use it to maximize efficiency and drive
cost savings. Since fleet data capture will only increase as time goes on, it is
important to understand how to leverage this resource effectively. This includes
knowing when to engage a fleet management company that offers strategic
consulting services. In this article, we will discuss what big data is and how
to harness its power to gain insight into business activities, discern actionable
items, and ultimately take your fleet further.
SOURCES & CHALLENGES OF BIG DATA
“Big data” is a term used to represent large, complex sets of data. This data is
vast because in today’s world, data is generated in real time by many sources,
including people, vehicles, and devices at all points on the supply and demand
chain. The list of data points and sources is ever-growing and can include
hundreds if not thousands of sources.
Fleet managers receive data constantly from these and other sources. The data
is highly diverse in character, including different generation intervals, unique
identifiers and code values specific to the device or application, plus many
different data formats. Because the data is so varied, the challenge lies in
aggregating and simplifying it to produce meaningful analyses.

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HARNESSING THE POWER OF BIG DATA FOR FLEET MANAGEMENT
Traditionally, these analytics were difficult if not impossible to create due to the
time it took to capture, cleanse, organize and link the data. Contemporary
technology makes incoming data much more useful.
Big data is essential in gaining insight
into business activities. These insights
are important because they will
ultimately lead to informed, data-
driven decisions. Fleet professionals
need quick access to accurate, reliable,
secure, real-time information. They
must be able to obtain it anywhere,
anytime in order to make informed,
time-sensitive decisions. In short, they
need a way to harness big data.
This is accomplished by building a solid and secure data infrastructure and
roadmap:
HOW TO HARNESS BIG DATA FOR INFORMED DECISION MAKING
An Enterprise Data Warehouse (EDW) is the best way to ensure that the fleet
decision maker can interact with all data in a timely fashion. An EDW also
ensures that the data itself is up-to-date, clean, accurate, and that there is
no overlap in information; that there is only “one version of the truth.” This
singularity is essential in making informed decisions so the decision makers
can rely on the data they are reviewing.
Security is also paramount, because cyber-crime and data hacking are
real threats that continue to grow each day. Any major financial services
company or retailer can attest to this, as the number of data breaches
hit an all-time high in 2014 and continues at a rapid pace in 2015. It is
vital to find a trusted partner whose EDW has securities in place to protect
important data assets from subsequent exposure and liability.

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HARNESSING THE POWER OF BIG DATA FOR FLEET MANAGEMENT
INFORMED ANALYSIS
As mentioned above, it is essential that fleet data be consolidated and distilled
into analytical views in order to proactively manage total cost of ownership.
This can be a time-consuming process. Studies show that preparing data for
usability consumes 50-80% of the work time associated with data use [1].
Some fleet managers may have the capability and time to produce their own
custom data interface. However, many managers can benefit from custom data
dashboards and reports prepared by industry experts. These dashboards and
reports enable the fleet manager to control such critical assets as drivers
and vehicles, as well as fuel and maintenance spend. With correct reporting,
key performance indicators such as miles per gallon (MPG),cost per mile
(CPM) and total cost of ownership (TCO), can be monitored against industry
benchmarks to ensure effective action is taken.
In addition to the importance of monitoring real-time performance, many fleet
professionals can benefit from access to experts in predictive analytics. These
analysts are often found at strategic fleet management companies. Analytics
professionals can assist a fleet in determining what the future may hold and
how to best meet upcoming challenges. Fleet managers should select predictive
analysts based on their ability to not only understand the big picture of data, but
also to issue actionable recommendations that drive positive, experience-based
change.
Many of the major fleet management companies have invested heavily in their
technology resources. They have the infrastructure to send and receive secure data
exchanges to ensure the accurate and reliable aggregation of information between
vendors such as manufacturers, fuel merchants, maintenance locations as well as
compliance, accident management and telematics suppliers (to name a few). This
enables fleet professionals to harness all that data for informed decisions.
[1] 07/17/15 NY Times

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HARNESSING THE POWER OF BIG DATA FOR FLEET MANAGEMENT
Big data does not replace human judgment. Analytics-driven technology
combined with personalized fleet management expertise leads to success in
translating big data into actionable steps. These steps allow an organization to
optimize fleet performance and meet organizational goals. Even highly experi-
enced fleet managers can benefit from working with analysts from a strategic
fleet management company to increase efficiency and take their fleet further.
CONCLUSION