These days, fleets are getting bigger and bigger, so that organizations can reach their customers on time, no matter where they are.
All these vehicles run on fuel, and poor fuel consumption can significantly drain a company’s operational budget- stopping them from earning profit to their full potential.
Data suggests that fleet companies that use better fuel utilization units can save a lot to earn bigger profits as compared to companies that work on old-school methods.
Fuel prices are reaching sky-high prices with each passing day. Fuel consumption and its saving are one of the top priorities these days for major fleet business houses.
This is where predictive analytics come in utilizing simulations, mathematical models, statistical data, and fleet drivers’ behaviors to make predictions about things like fuel level sensor.
Predictive analytics can help by reducing fuel charges to a significant amount.
Read on to find out how predictive analytics can help you earn more by saving on fuel.
Generally, the routes your fleet drivers have to take keep changing on the go. In cases of misinformation or uninformed routes drivers usually take up long routes to reach the destination.
Sometimes fleets go on the wrong routes for greater distances causing a lot of fuel wastage.
Predictive analytics can help increase productivity by optimizing the navigation system, which will lead to drivers using the shortest route possible, saving time. It also allows you to save time by providing real-time routes on the go.
In case of traffic or any blockage on the national or international highways, navigation systems can help by suggesting other routes.
Updating routes as per requirement and convenience can make a drastic change in day-to-day mileage, helping your fleet save a lot of money.
Predictive analytics can’t forecast driver behavior accurately. However, machine learning can help in recognizing repeated driver behaviors that are not desired.
For example, using fleet management systems that monitor and analyze vehicle speeds, fleet managers can find out who accelerates and decelerates unnecessarily.
Interestingly it helps in identifying who never gives turn signals, and even who never wears their seatbelt.
Paired with fleet dash camera (or dash cams), fleet managers can have a complete sense of relief as they have video surveillance of their drivers, which can help them recognize if drivers feel tired and sleepy on the wheel.
All this will help keep the drivers safe, making their driving practices optimal and the vehicles healthy, which will lead to efficient fuel consumption.
Fleet vehicles are generally used a lot more than, say, personal vehicles. They need timely maintenance to keep them running well at all times.
Predictive analytics can deduce when a vehicle needs to go for services so that they don’t break down or damage apart. This will keep the vehicles in great condition for longer and will improve the overall mileage of the vehicle by considerable amounts.
Thus, a fleet management app that informs fleet managers about vehicle aftercare requirements provides a great boost to company profits by cutting on fuel costs and severe damage due to a lack of proper maintenance.
Apart from predictive analytics, there are fleet management systems that offer other solutions, such as asset management, which will help you keep an organized inventory of the vehicles in your fleet, easily assign tasks to vehicles and drivers and even keep a track of where the vehicles are with the help of GPS trackers.
These become especially useful when vehicles get hijacked. With the vehicle tracking software running, fleet managers will have an accurate location of their assets, no matter where it goes.
This information can be communicated to the law enforcement authorities, and your asset will easily be retrieved.
Summing it up
Predictive analytics, if implemented correctly, can act as a game-changer for your organization. Apart from the reduction in fuel consumption, it can also help you improve productivity and reduce the number of accidents and vehicle damage.
Tedious tasks are eradicated so that your company can focus on bigger issues and expand operations. As the technology advances, fleet management systems will get better at helping fleets operate.