Analyzing business and economic trends before making capital investment decisions for your fleet is only half the work. If you’re not also examining your vehicle usage and fleet spend through the data you’ve collected from your vehicles and vendors, your fleet strategies will never be fully aligned with your corporate goals.
Your fleet data can tell you what your vehicles are experiencing and how much you are paying to run them. With the right analytics, your fleet data can also predict what your vehicles are going to need next—such as which units will face major component failures and when, at what point fuel efficiency will drop off due to vehicle age, and so forth.
Both historical knowledge and intelligent forecasting are important for making capital investment decisions. Once you’ve determined how much your company can afford to invest in vehicle replacements, your predictive fleet analysis can help you choose:
- The funding option that makes the most sense for the company’s financial position based on actual vehicle usage,
- The ideal age/mileage you want your fleet to maintain in order to support your company’s overall objectives, and
- Sensible finance or lease terms so you can replace vehicles in time to avoid predicted spikes in operating costs.
Producing a proactive plan to manage costs, downtime or other fleet complications that would otherwise affect the company’s productivity and revenue helps you gain the trust and respect of your organization. This influence comes from your ability to see your fleet’s data in real-time and the insight to develop actionable plans.
Your business environment, the financial structure of your company, its goals and priorities, and the trends and technology that influence the kinds of vehicles that are available for your fleet—these factors are ever changing. Regardless of these challenges, ARI’s experts are here to provide the insight, tools and support to help you get ahead of the cost curve and support your organizational objectives. Contact us today.