The trucking industry, and transportation sector at large, are going through big changes. The adaptation of advanced technologies allows transportation companies to operate in a way they never have before. Yet, as all this new technology seeps into the industry, trucking companies are also drowning under a deluge of data. <\/p>\n\n\n\n
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The questions now are:<\/p>\n\n\n\n
The fact is, data has been one of the biggest buzzwords in\nthe past five years. Yet, data on its own, without context, means very little. Data\npoints are nothing more than self-contained bits of information. In order to\nget something out of the data motor carriers need software, people, and a\nstrategy to turn these bits of information into something that can be used for\nthe greater good of the fleet.<\/p>\n\n\n\n
So Much Data<\/strong><\/p>\n\n\n\n Each new generation of truck is more advanced then the last.\nWe have now reached an inflection point where commercial motor vehicles are now\nakin to computers on 18 wheels. Yet, the question remains: Why aren\u2019t fleets\ndoing more to implement data-driven solutions? Consider that a single fleet can\nproduce billions, if not trillions of data points per year. Without a plan, all\nthis information can be disorienting. <\/p>\n\n\n\n The task for your fleet should be to put systems in place\nthat do more than just collect data for the sake of doing so. They must be able\nto analyze the data points and put them to good use. Systems, whether they are\nbuilt-in, outsourced, or otherwise, need to help fleet managers make more\ninformed decisions. Fleets should expect to get actionable items from the\ntechnologies they are using. <\/p>\n\n\n\n Fleets must also consider the use of IoT devices. There\nshould be three categories. The first data-driven category should be\ninformation gathering. Your fleet needs to be set up to gather a wealth of data\nfrom a variety of sources. The second category is in information sharing.\nWhether it is through Wi-Fi, cellular networks or otherwise, you need immediate\naccess without distortion or manipulation. The final category is in decision-making.<\/p>\n\n\n\n Fleet managers and other decision makers will be able to\nrespond more quickly and make better informed decisions about the nature of the\nfleet. They should be able to use the result from the data gathering to create\nbetter outcomes for truck drivers and others within the company. This is what\nis referred to as a feedback-based process and it allows trucking companies to\nadapt and optimize their operations with little hassle. <\/p>\n\n\n\n All the Benefits<\/strong><\/p>\n\n\n\n Data can be used in many ways, but one of the best ways is through\ncontrolling costs. Take tire pressure monitoring as one example. If a fleet is\nusing a tire pressure monitoring system to record temperature and pressure\nconditions in real time, money is saved. Sensors and the data gleaned from\nthose sensors can be used to monitor wear and performance on both tires and\nother vital pieces of equipment. <\/p>\n\n\n\n Data can also help truck drivers find parking. In fact,\nseveral states are already rolling out a data-driven parking solution<\/a>.\nThe system will monitor over 150 parking areas and relay free information to\ntruckers on where there is available parking. This represents a significant\nstep towards helping truck drivers find a safe place to park using data as the\nsolution. <\/p>\n\n\n\n Another area where data comes in handy is in weather detection. Did you know that inclement weather costs fleets over $8 billion per year? Real-time weather data can be gathered and combined with traffic information, road closures, construction zones, and more. This paints a comprehensive picture of what is happening on the road before the truck driver gets behind the wheel. <\/p>\n\n\n\n [wp_ad_camp_2] <\/p>\n\n\n\n <\/p>\n\n\n\n Remember the days gone by when all we had to use was a\ncolor-coded map? Data-driven systems have moved the needle forward in a big\nway. What we should see in trucking will be like what we see today in aviation.\nA lot more data will provide access to a lot of more efficient routes and\nbetter planning. Yet even more is the matter of safety. The simple fact is that\nthe efficient use of data makes fleets safer.<\/p>\n\n\n\n Fleet managers can monitor truck driver behavior and act if\nnecessary. Truck drivers can receive real time alerts if they are heading into\nheavy congestion and take another route if necessary. Outside of the tangible\nbenefits this offers, fleets can also get better information related to weather\nand road safety. Time is saved with better route prediction. <\/p>\n\n\n\n In 2018, the DOT announced that it would be launching some\nresearch programs designed to use data to improve safety on our nation\u2019s roads\nand highways. The first of these projects was to track the speed of a vehicle\nand see how closely speed and road conditions correlated to an accident. The\nsecond project was in partnership with the crowd-sourcing navigation app Waze.\nThe government in this study wants to asses whether there was a risk of a crash\nif something was reported by Waze users.<\/p>\n\n\n\n But if there is one area where fleets hope to get the most\nout of the data dump, it is in the area of efficiency. Whether this is greater\nfuel efficiency or more efficient maintenance outcomes, data can be used to\nstreamline operations, create better efficiencies, and, above all, save money.\nLet\u2019s take maintenance as once example. <\/p>\n\n\n\n Data gathered from telematics devices and sensors can let a\nmotor carrier know which vehicles or which equipment is at risk of failure.\nFleet technicians can use the data to anticipate routine problems. Fleet\nmanagers can decide whether they need to make a repair or not before the truck\never goes out onto the road and puts itself at risk for breakdown. <\/p>\n\n\n\n Considering unscheduled maintenance costs trucking companies\nan average of nearly $80 an hour, this is no small thing. By smartly utilizing\ndata, these systems can quickly pay for themselves. And the same goes for fuel\nsavings. When all the data points link, fleets are awarded greater insight into\noverall fleet performance. <\/p>\n\n\n\n What Does Blockchain Have to do With It?<\/strong><\/p>\n\n\n\n We have written before about how blockchain is increasingly\nbecoming incorporated into trucking and transportation applications. In fact,\nif data was the big buzz word of the past five years, for 2019 and beyond, it\nhas got to be blockchain. But why are we even talking about blockchain? Well,\nbecause we are talking about data. The blockchain is nothing more than an\nimmutable record of data. It is most important to point out that blockchain is\nnot bitcoin or cryptocurrency, even though it underpins cryptocurrencies. <\/p>\n\n\n\n The point is, blockchain is not limited to bitcoin-related\napplications. Rather, blockchain is what is referred to as an \u201cinstrument of\ntrust.\u201d The blockchain records data, whether it is transactional or otherwise,\nand shares it across the network. The data is not controlled by one centralized\nauthority, but rather by the users of the blockchain themselves. This is one\nreason why blockchains are nearly impossible to hack.<\/p>\n\n\n\n But how might trucking be changed or influenced by the\nblockchain? At its very basic core, blockchain is a methodology for\nestablishing trust between parties. And trucking is an industry basically built\non trust between parties, whether it is between shippers and brokers or\ncarriers and load boards. The blockchain merely builds on this premise. <\/p>\n\n\n\n When data can be trusted because the network is enforced by\nthe users, there is less guessing about who needs what or what is going on.\nBeyond establishing secure contracts that are immutable and clearly lay out the\nterms, the blockchain also lets cooperating parties verify that each has the\nmoney they say they have. <\/p>\n\n\n\n The use of blockchain in this manner can essentially replace\nthe need for a ton of lawyers and complex, tamper-proof contracts. There are\nthree different critical areas that impact the transportation sector:\nVisibility, optimization, and demand management. When you have a trusted record\namong parties, all three of those issues are addressed. <\/p>\n\n\n\n Finally, the blockchain can assist trucking companies in the area of process management. If a particular task creates a data set, then that data can be used to build a smart contract. A ledger of where a truck operated can be gleaned from onboard telematics and then fed into the blockchain. When the data can be tracked, communicated, and shared across the fleet, everyone benefits. Freight factoring<\/a> is just one area where the blockchain can be used to this effect. <\/p>\n\n\n\n [wp_ad_camp_2] <\/p>\n\n\n\n <\/p>\n\n\n\n We live in the era of big data. Companies who do not learn\nhow to harness data to create better opportunities and more efficient\noperations will fall behind their competition. Others within the transportation\nsector are jumping on the data bandwagon. Are you?<\/p>\n","protected":false},"excerpt":{"rendered":"