We are living in a world of 4th industrial revolution where the new technologies such as artificial intelligence, the internet of things (IoT), and data analytics are transforming the future of operations and productivity of an organization.
Considering the current growth of connected devices, it is expected by IoT connected devices to outnumber the world population. According to one estimate, the number of connected devices in 2020 will be 20.4 billion around the globe and will reach 100 billion by 2030. Taking into the consideration of new technologies subdue the business world, one needs to explore the potential of big data to maximize its leverages to enhance the efficiency, predict and prevent future challenges. The actual value of understanding the data metrics extends beyond revenue generation.
While operating the fleet of vehicles, we all know millions of data points are generated every second. The data points can be used to transform the fleet management for good. Since the data generated by vehicle is diverse, to harness the actual power of data one needs to analyze the data to make informed, time-sensitive business decisions.
The vehicle-generated data is in the form of engine hours, engine temperature, diagnostic trouble codes, speed, acceleration, braking, location, fuel economy, distance traveled and much more. To make this data meaningful, data normalization is done to derive thousands of useful data points into separate events depending on an organization’s goal. For example, if the goal of an organization is to increase the safety, then the data exhibiting the driver behavior such as speed, acceleration or harsh braking is normalized.
If data is king then understanding and ingesting the data is queen. Without proper understanding and analysis of data, tens of thousands of useful data points cannot be differentiated from the noise and excess information.
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