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Dealing with Data: Making the Numbers Work for You

by Charlotte Freed | Aug 24, 2018

Partnering to understand fleet dataLast week we explored why data falls by the wayside for many fleet managers, this week we’ll discover the success many have found when partnering with fleet management companies and services. By joining forces, fleet managers are given back time and allowed access to systems that merge information while being given insights on actionable items to improve their bottom line. Additionally, management services provide assistance by working directly in driver training using collected data to customize and develop safety programs and internal training.

Often, fleet management companies provide systems that consolidate data into a more easily digestible form. This creates opportunity to create action items and explore solutions to address insufficiencies and improve operations. Predictions are important, but understanding causes of outcomes from hard data is most valuable.

What are some of the steps you’ll need to take with fleet management companies to begin understanding how your data can drive profitability?

Set Goals

Determine what you aim to do with data once it is analyzed. Understanding what you want to achieve and why helps focus the numbers toward an actual goal.

Be Specific

Focus on goals surrounding something specific within the company: improved safety, fuel savings, or driver turnover. When you decide what exactly you want to influence, you can better measure the metrics directly effecting them. Targeting one thing you’d like to work on will help you ease into your data.

Find Experts

Partner with an industry expert on the facet of business you want to advance. They will have more background with the specific type of data you’ve pulled, and may be able to give structured recommendations around the numbers in relation to your goal.

Keep it Simple

While data is anything but simple, your method of gathering and reporting should be. Prioritize the crucial data points into three categories: cost control, safety, and efficiency. Ensure that this data is available to key stakeholders and decision makers in your business.

Whether being used on a micro basis (engine diagnostics to preempt maintenance) or macro (investigating economic trends and industry development), data is key in decoding the ins and outs of your business’ success and areas for improvement.

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