Fleet World Workshop Tools
Car Tax Calculator
CO2 Calculator
Car Comparator
Van Tax Calculator
EV Car Comparator
BiK Rates Company Car Tax

Five-point list on getting insights from fleet data

FleetCheck has published a five-point list to help fleets gain maximum insight from their data as businesses investigate new ways to optimise operations.

Peter Golding, managing director, FleetCheck

Peter Golding, managing director, FleetCheck

The fleet software specialist has previously said that many firms are reviewing their fleet fundamentals due to the continuing economic uncertainty caused by the coronavirus crisis, leading many to turn to data insights to see where real gains can be made.

Peter Golding, managing director, explained: “The aim of these fleets is to use the information available to measure key objectives but also to investigate areas where they are able to gain new levels of insight over their operations. They are very much open to new ideas and new thinking.”

FleetCheck’s top five tips on how to get such data insights has been created to “help fleets travel down this road” and to avoid common issues such as a feeling of being overloaded with data.

Golding also said a move to increased best practice in this area could also benefit the industry as a whole.

The top five is:

Ensure your data has context. Knowing a driver has three points on their licence is different to knowing the driver has three points and only passed their test six months ago. Similarly, knowing a vehicle has low tread on a tyre is different to knowing this vehicle had the same tyre replaced only three months ago.
Define different levels to how you examine data. To work efficiently you need both a high level overview of key data sets but also the ability to drill down into detail when needed. Not being able to switch between the two is often what creates an impression of data overload.
Integrate your data. This is an obvious step but linking datasets together can serve two key purposes – contextualising information and saving a huge amount of time through automating processes. Both of these are essential to good data use.
Set the right metrics. Identify your key targets and ensure that you have data in place that measures your progress accurately. It is virtually impossible to do everything that data might potentially deliver, so decide on your priorities.
Undertake frequent reviews of the data you analyse. Data sources are constantly changing with some improving and some degrading. Reviewing your data quality at specific intervals helps to avoid scenarios where companies are stuck with poor data from suppliers that have not developed their offering.

For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.

Leave a comment

Your email address will not be published. Required fields are marked. *