Survey: Data insight can lower operating costs by $4,000 annually per truck

Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing and lifecycle cost management announced results of its latest survey where it took the pulse of how fleet truck industry executives are leveraging data and intelligence for their operations. The online survey was presented to more than 700 transportation executives and managers overseeing large fleets (45 percent of responders manage fleets with over 200 tractors). Headlining the results, over a quarter of fleet professionals (26 percent) say data analysis is lowering their operating costs by $4,000 annually per truck.

According to the results of the survey, five years ago approximately 81 percent of those polled said they had no analytics strategy for their fleet operations. Today, with the complexity that has been engineered into many of the newer heavy-duty trucks, 80 percent of fleet executives now say they analyze data to track the performance and operations of the trucks. These executives are monitoring fuel trends; vehicle performance such as idling and time in gears; ECM data; and routing and logistics information. What’s more, 61 percent of industry professionals are now monitoring and tracking data either daily or weekly.

“The movement toward comprehensive business intelligence speaks volumes about this industry’s thirst to truly leverage and maximize the technologically advanced trucks on the roads today,” said Jim Griffin, Chief Technical Officer of Fleet Advantage. “It’s notable that we’ve evolved from focusing on routes almost entirely to now analyzing every facet of truck performance to identify where improvements can be made for the bottom line.”

Twenty-five percent (25 percent) of fleet professionals said data has made the most impact on managing fuel costs, and 19% of fleet professionals also point to service and maintenance and driver behavior improvements as key areas data is impacting today.

In the next five years, 87 percent of fleet professionals expect data and analytics to play a key role in managing fuel costs and truck performance, or they feel data will drive their entire business operations in all areas.

To view the complete results of the survey click here.