Having the right vehicles on the road and knowing when to take those vehicles out of service altogether is vital to effectively managing downtime, but how can you determine which vehicles need to be replaced first? Today, innovative fleets are using statistical analysis coupled with Big Data to pinpoint small issues before they turn into larger problems and increase downtime.
Typically, when you have a question about your fleet, you must search for the information and run reports. Traditional technology provides results that are often times overwhelming and impossible to provide actionable outcomes. However, by incorporating statistical analyses to coincide with Big Data reports, results include specific reasons as to why certain items are contributing to higher fleet costs.
This advanced analytics technology examines current maintenance data and occurrences, as well as previous vehicle history to establish failure ratios. Then it goes a step further and identifies units or components that have not yet had repairs, which helps to understand and manage future costs and repairs.
For example, statistical analysis measures the frequency of brake failures and repairs, showing you when a vehicle will require a brake service based on mileage or time in service. This prediction helps you to forecast, plan and budget for the work that will need to be done as well as minimize catastrophic failures through preventive maintenance. As a result, you can predict major and minor component failures, which enhances vehicle replacement strategy as well as year-over-year budgeting.
Now, with immediate accuracy, you can identify the reasons your fleet is experiencing increased costs, including driving patterns; the vehicle’s age, make or model; or the application of the vehicle. Quickly and clearly, you know where the outliers are and which vehicles are having the biggest financial impact. This type of insightful information empowers you to develop a sound vehicle replacement strategy that proactively cycles-out vehicles before they become significant burdens to productivity and your fleet’s bottom line.
Taking that insight and using it to develop a solid replacement cycle that supports the functional needs of your fleet will lead to vehicles that are in good working order and doing what you need them to do: supporting your business and serving your customers.