{"id":2366,"date":"2020-06-01T17:45:39","date_gmt":"2020-06-01T17:45:39","guid":{"rendered":"https:\/\/quicktransportsolutions.com\/blog\/?p=2366"},"modified":"2020-06-01T17:45:41","modified_gmt":"2020-06-01T17:45:41","slug":"how-trucking-companies-can-put-their-data-to-good-use","status":"publish","type":"post","link":"https:\/\/quicktransportsolutions.com\/blog\/how-trucking-companies-can-put-their-data-to-good-use\/","title":{"rendered":"How Trucking Companies Can Put Their Data to Good Use"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">What is data? It is valuable to start with a definition of what data is to serve as a foundation for the rest of what we will talk about today: Data integration and what it can do for you. Data are individual units of information, especially facts or numbers, that are collected to be examined, reported on and analyzed. It is often visualized using graphs, tables, images or other analysis tools. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">                                                                              <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Data is oftentimes used interchangeably with the\n\u201cinformation\u201d and \u201cknowledge,\u201d but these terms are subtly different. Data\nbecomes information when interpreted. Knowledge is an understanding or skillset\nthat arises from studying information in-depth. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, for example, the depth of the Grand Canyon would be\ndeemed data (6,093 feet, in case you were wondering!). A book relaying the\ngeological characteristics of the Grand Canyon would be viewed as information. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Knowledge is using the information available on the Grand\nCanyon to create a guide on how to best hike to the floor of the canyon.\nBusinesses, no matter the industry they operate in, need data to be successful.\nData helps businesses make informed decisions, solve problems and see\nperformance. It assists in understanding each part of a business process so\nthat managers know what needs to be optimized and which parts of the process\nare performing well. Data can assist with maximizing profitability by\nincreasing operational efficiency and customer satisfaction while also giving\nmanagers the ability to predict future events. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The Importance of Integrity and Integration<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There is no doubt that data is vital. Because of this, data\nintegrity should always be maintained. Data integrity refers to the accuracy\nand consistency of data over its life cycle. It should be reliable,\ntrustworthy, traceable, secure, verifiable and complete. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Maintaining integrity can be difficult as data often comes\nfrom various disparate sources. If your business relies on data for decision-making\n(which it should), all data must be accessible, correct and reliable. One of\nthe best ways you can achieve integrity is with data integration.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Data integration may be self-explanatory for many, but let\u2019s\ndefine it regardless. Data integration combines heterogeneous data residing in\ndisparate sources and then provides users with a unified view of that data.\nSoftware is used to achieve this goal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s look at an example for clarity. IKEA is a well-known\nmultinational homeware retailer. There are currently 433 IKEA stores operating\nin 52 countries as well as an international website selling IKEA wares online.\nEach store as well as the website generates an enormous amount of data. Within\neach store there are also a variety of sources that contain additional data.\nData integration software extracts the data from all these sources and puts it\nonto a single platform in recognizable formats. With the help of this software\nthere is now a big picture view of current inventory.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SAP, a German multinational software corporation, conducted\na study named, \u201c<a href=\"https:\/\/news.sap.com\/wp-content\/blogs.dir\/1\/files\/SAP_Data-2020-Study_Infographic.pdf\">Data\n2020: State of Big Data<\/a>.\u201d In this study, 500 IT decision-makers from\nenterprise-level companies in the US, Brazil, UK, Canada, Germany, France,\nJapan, China and Australia were surveyed on issues surrounding data and data\nintegration. These are some of the results:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>86% say there\u2019s much more they can do with their\ndata.<\/li><li>74% say their data landscape is so complex that\nit limits agility.<\/li><li>68% of companies incorporate data from\napplications outside the enterprise.<\/li><li>83% would benefit from using a data integration\nsolution.<\/li><li>85% struggle with data from a variety of\nlocations.<\/li><li>72% say that their data landscape is complex due\nto the variety and number of data sources.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A Look at Adoption and Accessability<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When there are disparate sources at play, there needs to be\npeople available to manage these sources. These individuals have specific\nknowledge related to the source they\u2019re managing &#8211; knowledge that is likely not\nshared by many others. This creates an environment of reduced accessibility,\nmaking effective usage of data difficult. When only some people have access or\nadmin rights to a specific source, it can potentially block collaboration\nbetween teams and diminish decision-making abilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Data integration brings all sources together onto one single\nplatform. With it, employees who require access to data only need to go to that\none platform to get what they need. Disseminating knowledge on how to use that\none platform is much easier than teaching employees how to use many different\nsystems, thus increasing system adoption. In turn, this improves employee\nbuy-in. A single data integration platform also simplifies the onboarding of\nnew employees, saving both time and money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The more data businesses have access to, the better the entire decision-making process will be. By having a bird\u2019s-eye view of all processes, it\u2019s easier to see patterns emerging and to determine which areas need improvement. This allows for changes to be made immediately and appropriately. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">                                                                              <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Making real-time improvements to your fleet\u2019s operation and\noverall business processes will no doubt result in better customer service and\nthus increase satisfaction. Should a customer have a query, it can immediately\nbe examined and addressed because there is quick and easy access to data. In\nturn, response time will undoubtedly improve.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Examining Real-Time Data<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A data integration system extracts and transfers data on a\nregular basis throughout the day or in real-time. However, if you don\u2019t have a\ndata integration system, you likely have individuals who manually input data\nfor analysis, usually not daily. This is both time-consuming and timewasting,\nand there is often a delay between when the data is originally captured and\nwhen it goes to where you need it. That delay can be detrimental to making good\ndecisions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Should data only be analyzed after events have transpired\n(even if there is a just a day-long delay), the data may not be relevant\nanymore to what\u2019s currently happening. This will lead to decisions or changes\nbeing made that don\u2019t have the desired impact or do not take everything into\naccount.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Having access to the most up-to-date data gives you the\nability to predict outcomes more accurately, pre-empt issues and decrease risk.\nYou can even reduce downtime with real-time data. For example, should you see a\ntrend in certain vehicles not being utilized most of the day, you can\nimmediately send them out to jobs or even book them for maintenance while\nthey\u2019re not needed. Remember, empty vehicles equal a decrease in profitability.\nReal-time integration also ensures that data is not \u201cwasted.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How to Analyze the Data<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Data analysis is the process of obtaining raw data and then <a href=\"https:\/\/quicktransportsolutions.com\/blog\/mining-the-trucking-digital-data-dump\/\">converting\nit into information<\/a> that is useful for decision-making. Before proper\nanalysis can be done, the data needs to be collected, processed and cleaned or\norganized. Data integration software does all of this and more, and that\u2019s why\nit\u2019s so important to implement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Using Big Data intelligently can improve your overall\nbusiness performance. Around 2012, Harvard Business Review set out to prove its\nhypothesis that data-driven companies are better performers by conducting\nstructured interviews with executives at 330 public North American companies.\nCompanies that described themselves as data-driven performed better on\nobjective measures of financial and operational results. On average, companies\nthat made data-driven decisions were 5% more productive and 6% more profitable\nthan their competitors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Aside from the fact that data analysis aids in efficient and\naccurate decision-making, it can also reduce costs. For example, you may be\nthinking of purchasing new vehicles for your fleet, something that will incur a\nlot of costs. But is it really needed? By studying your vehicle utilization\ndata, you may come to find that certain vehicles are not being used as much as\nthey should be or are being inappropriately allocated, resulting in \u201cdead time\u201d\nwhere a vehicle is not being profitable. This information may then lead you to\nchange your mind about purchasing new vehicles and instead shift the focus\ntowards improving your current utilization rate. Thus, you will not be\nunnecessarily spending money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Of course, there are many other positives about using the data your integration software collects to do analysis, including anticipating future needs through identifying trends. The most important thing to remember is that data integration provides the perfect environment for analysis. It organizes and standardizes data in recognizable formats and places it in an accessible yet secure place while eliminating errors through input automation. It also ensures that the data on hand is always as up to date as possible, which is crucial for decision making. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">                                                                              <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So now the only question is, has your fleet jumped on the\ndata bandwagon?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is data? It is valuable to start with a definition of what data is to serve as a foundation for the rest of what we will talk about today: Data integration and what it can do for you. Data are individual units of information, especially facts or numbers, that are collected to be examined, &#8230; <a title=\"How Trucking Companies Can Put Their Data to Good Use\" class=\"read-more\" href=\"https:\/\/quicktransportsolutions.com\/blog\/how-trucking-companies-can-put-their-data-to-good-use\/\" aria-label=\"Read more about How Trucking Companies Can Put Their Data to Good Use\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2366","post","type-post","status-publish","format-standard","hentry","category-trucking"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Trucking Companies Can Put Their Data to Good Use - Quick Transport Solutions Trucking Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/quicktransportsolutions.com\/blog\/how-trucking-companies-can-put-their-data-to-good-use\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Trucking Companies Can Put Their Data to Good Use - Quick Transport Solutions Trucking Blog\" \/>\n<meta property=\"og:description\" content=\"What is data? 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