Businesses with vehicles being their primary asset are unable to achieve the desired level of efficiency without a fleet management system, required for their growth and success, revealed by the research conducted by business and technology analysts. Top leading organizations are choosing to invest in fleet technology with a set of KPIs for burgeoning and managing their fleet. But what are the most important KPIs for leveraging analytics to generate major gains in efficiency?
While the term “key performance indicator” (KPI) refers to the key measures that reveal a business’s success, performance or capacity utilization, however, the benefits can be categorized as; Safety, Efficiency, and Compliance. While KPIs can vary depending on fleet size but they should cover the aforementioned sectors.
- Safety KPIs
When it comes to fleet safety, monitoring driver behavior and analyzing the results is vital to train the drivers and to enhance the safety culture in an organization. The top safety KPIs include:
- Speed violation
- Harsh braking and acceleration incidents
- Corner handling incidents
The data is notified to fleet managers in real-time and shared with drivers through their desired notification alert setting or it can also be accessed through the Eagle-I dashboard, which not only allows the driver to review their own performance but also allows the fleet manager to compare the performance of peer drivers. Moreover, Eagle-I provides access to scorecards which can also be used to indicate each driver’s risk profile for future training.
The efficiency of the fleet can be measured in terms of operational cost and in the wear and tear of an asset. Eagle-I helps you in analyzing the efficiency by vehicle groups, ungrouped vehicles or for the whole fleet. Efficiency KPI are mentioned below:
- Fuel economy per vehicle
- Fleet asset utilization
- Costs per hour
- Costs per device
- Vehicle activity (Ignition on and off time)
Day-to-day analysis of fleet helps the fleet manager in optimizing asset utilization and sometimes it can happen by reducing the extra number of vehicles in their fleet. Eagle-I fleet management and vehicle tracking solution can help you to determine whether you really need all your company vehicles without the need to prepare huge reports manually – the system will do it all for you Moreover, it can also help in reducing fuel cost, maintenance and insurance costs
Compliance KPIs may include:
- Available Hours of Service (HOS)
- HOS violations
- Unassigned mileage by vehicle
The purpose of collecting data by setting KPIs for an extended period is to create a historical record of operational data which can analyze the current and historic KPI data to predict what is likely to happen in future. Moreover it provides you the insight to make changes to reduce risk, improve the efficiency of your fleet, and enhance customer service. Being able to track your fleet performance not only optimize the size of your fleet but also save your valuable resources – time and money – in the long run.
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