Predictive analytics is one of the most exciting technologies available to fleets today. This technology combines statistics, modeling, machine learning, and driver behaviors to make predictions regarding maintenance, fuel costs, safety, and budgets. It helps fleet managers with their jobs every day. Predictive analytics tools are a must-have for fleet managers at companies of any size. We will break down what they can do for you in this article.
How Does Predictive Analytics Work?
Predictive analytics does precisely what its name implies. It analyzes data obtained from statistics, machine learning, and other methods and uses it to make predictions. Usually, this involves generating a score for the likelihood of an event occurring. The higher the score, the more likely the event will occur. For example, in route optimization, predictive analytics takes data from previous traffic conditions, satellite information, job details, and scheduling needs and uses an algorithm to create the most cost-effective route to complete those jobs. It generates scores for issues like high traffic, accidents, or other delays, then routes drivers around likely problem areas. Predictive analytics tools are an incredible technology that efficient fleets use to their advantage. They allow managers to make decisions proactively instead of reactively, putting them ahead of any problems.
Predictive analytics tools help make fleets more efficient in a variety of different ways. The most significant way that they optimize fleets is through route optimization. Route optimization is the process of harnessing predictive analytics to determine the most cost-effective route. This technology is beneficial for fleets with many stops or whose stops can change throughout the day. Route optimization used to involve paper and pencil, but now routes can be analyzed in real-time with fleet management software. Predictive analytics can take all the stops on a route, account for traffic, construction, and historical trip data, and create a path that will get drivers to each of their jobs quickly and efficiently. Efficient routing saves fuel and can lead to immense savings, as fuel costs are among the most significant expenses for fleet companies.
Keep Up with Maintenance
One essential aspect of a fleet manager’s job is ensuring all of the fleet’s vehicles are properly maintained. Vehicle maintenance is crucial for the fleet’s productivity as well as its safety. Well-maintained vehicles are less likely to break down on the road and cause delays in the workday. They are also less likely to cause accidents and injure workers or incur expensive damages. Regular vehicle maintenance can also save money even without breakdowns or accidents. For example, fixing parts on a vehicle can lead to mileage savings averaging 4%. In addition, properly inflating tires can increase fuel economy by 3.3%. Predictive analytics tells fleet managers when vehicles have problems that require maintenance and predicts when care will be needed. This technology is instrumental in ensuring the fleet’s productivity and safety.
Predictive analytics tools not only promote safety by encouraging regular vehicle maintenance. They also promote positive driver behavior. Fleet management software and telematics allow fleet managers to track driver behavior closer than ever. This software can track behaviors like hard braking, rapid acceleration, speeding, and more. Artificial intelligence can detect that a driver seems distracted, drowsy, or aggressive and warn the fleet manager in order for them to take corrective action. Drivers exhibiting any of these behaviors are dangers to themselves and others. It is vital to everyone’s safety that these habits be corrected as soon as possible before an accident occurs. Predictive analytics allows fleet managers to ensure that their drivers exhibit only safe behaviors, making it an immense asset to fleets of all sizes.
New technologies come about all the time in the fleet industry, and predictive analytics continues to grow and transform. What wasn’t possible ten years ago is commonplace today, making fleet managers’ jobs more manageable than ever. If your fleet isn’t taking advantage of predictive analytics tools, it’s time to make the change. Azuga’s technology is top-of-the-line and used by fleets all over the country to maximize efficiency, increase safety, and save on costs. Reach out to us today to find out what options are available to you.