Investment in telematics is now broadly recognized as critical for success for companies operating in the mobility sector; the entire industry considers telematics as an enabling element of new business models including the creation of value-added services, more effective maintenance, analysis of residual value of the vehicle based on real use, as well as safe driving tips and timely intervention in the event of an accident.
We are moving more and more in the direction of harmonisation of telematics and data. One of the major changes for the Fleet Management sector is to be found in operating systems capable of supporting open platforms for data integration, management, and processing. An integrated platform capable of processing and making data usable can provide predictive analysis and allow companies to address large-scale problems by simplifying the logistical problems of fleets.
Historically important use cases for fleets such as vehicle location, driver identification and downtime management are still relevant, but today there are more comprehensive solutions that significantly impact the income statement of operators. The intelligent tools made available by OCTO, which transform the data collected using sophisticated machine learning algorithms, allow fleet managers to dynamically manage their activities as well as the activities across marketing, administration, human resources, and suppliers within our client companies. And the advantages are not limited to fleet managers but also extend to drivers who can take advantage of these solutions by making the best use of the vehicle and increasing safety.
Our advanced analytics offers new opportunities to better manage risk. By using OCTO DriveAbility®, the most sophisticated scoring solution available on the market today, it is possible to predict loss costs more accurately. OCTO Data Scientists have integrated insights from data relating to the behaviour of drivers with those from the vehicle itself by exploiting our machine learning algorithms validated with data from over 480 thousand claims analysed up to today. OCTO DriveAbility® considers how a vehicle is driven and maintained and can also be used to optimize residual value of the vehicle for remarketing activities.
Beyond scoring and driver tips, vehicle occupant safeguarding with respect to reducing the spread of contagion is paramount in shared vehicles. Sanitisation solutions must be effective and instil peace of mind for operators as well as occupants. OCTO PurePlace Car uniquely combines a dual ionisation purifier, telematic device, and mobile app to manage the purification and sanitisation of cabin air and surfaces using photocatalytic oxidation thus destroying over 99% of impurities. OCTO Smart KeyLess is a proprietary technology to lock and unlock vehicle doors, without touching the physical key. OCTO Smart KeyLess not only reduces contact for all parties that require vehicle access, but also streamlines operations and protects assets with just-in-time access authorization management. This innovative solution, which is significant for Fleet Manager and more, does not interfere with the automotive CAN bus system (Controller Area Network).
The near future sees even more interesting developments due to two main trends that affect the digitisation of fleets: The Internet of Things and Edge Computing. Widespread connectivity, capable of enabling the IoT, will be increasingly essential for the smart fleets to come. In fact, the IoT confers significant advantages to traditionally known telematics since it collects data from various sensors and communicates with both GPS and RFID technology, instantly enhancing the performance of the individual vehicle and allowing decisions to be made in real time due to advanced systems analysis such as those that OCTO makes available to its customers.
Perhaps the most interesting revolution taking place right now for the Fleet Management sector is that of edge computing, a model that sees the collection, processing and analysis of data take place at the point closest to their origin and then transmit the results to the cloud for reporting and sharing; a hybrid “online-offline” architecture with higher performance and reliability than one based on cloud computing which is at risk of server or network outages.
Data will increasingly be a reliable source for solving inefficiencies. Artificial intelligence and automation in general already contribute and will increasingly contribute to improving road efficiency and driver safety. AI in particular plays a very important role in the future development of these kinds of technologies for better fleet management.
In the end, AI supports managers to better understand the needs related to their business and facilitates the adoption of new technologies. Thanks to machine learning – that component of AI that allows the system to “learn” and continuously improve the interpretation of big data sets – fleets can improve the accuracy of telematic data relating to driving behaviour, tracking and use of vehicles and their overall operation, improved safety, increased productivity and cost reduction.
Authors:
Nicola Veratelli – Group CEO at OCTO