OVERVIEW
In recent times, “Big Data” has become an industry buzzword, and with good reason. Certainly, it has never been easier to capture fleet information from a variety of sources. This data should be the force empowering commercial and public fleets to attain their objectives, yet too many fleets are sitting on piles of unused information because they struggle with its value or how best to translate data into results. There are five keys to success in transforming fleet data into successful fleet strategy. In short, success depends on the right combination of people and process.
Strategic evaluation of the fleet can be derailed by the volume of day-to-day tasks. Today’s fleet professional typically has additional non-fleet responsibilities. Fleet is taken for granted when it runs well, and acknowledged only when a fleet problem impacts the rest of the organization. The process of analyzing data for strategic opportunities gets pushed to the back burner—an example of how the processes that fuel success are sometimes sidelined.
When the fleet manager does have the opportunity to review and analyze fleet data, he or she must then cope with the sheer volume of information, the relative value of different types of data and the problem of crafting strategies that translate data into effective implementation of the fleet’s objectives. Issues include the following:
- Understanding the meaning of the data
- Determining what data is most important
- Aggregating data across vendors, systems and processes
- Dealing with the inaccuracy of “real-world” information
- Tying all the information to a meaningful big-picture conclusion
Without question, data is power. The more fleet information gathered, the better the visibility into fleet operations and underlying trends. The more integrated the data, programs and processes, the more accurate the results will be, and the more likely strategic initiatives will succeed.
The vast volume of fleet information cannot be tracked in an ad hoc fashion. Fleet management dashboards are the best way to parse this data but must be crafted into efficient, routine evaluations of the business. Regular monitoring of key performance indicators can drive effective management and help the fleet achieve tangible results. Make data relevant to the business and resist the "more is better" mentality that many fall into.
Data empowers your people to create streamlined processes that enable the fleet to succeed.
In addition to day-to-day challenges and the sometimes overwhelming volume of fleet data, fleet managers must effectively bridge the gap between what senior management wants, and what information they have. These managers benefit from appropriate use of strategic consultants for fleet management, on an ongoing basis—another example of the importance of the right people to your fleet success. Independent fleet management consultants can assist the business professional in identifying data trends and uncovering strategic opportunities. The consultant provides analytical expertise the business can leverage against their own intimate knowledge of their fleet and its particular needs and objectives.
The most effective consultant relationships are developed through open communication, trust and an understanding of the types of questions a fleet strategic consultant can help to answer. For example:
- What approaches should we consider?
- What levers can we use to drive down costs?
- How do we compare to other similar fleets?
- How can we improve total cost of ownership?
As the business professional and fleet consultant work together, the consultant should get to know the individual fleet and its requirements and goals. After solving any basic fleet issues and acting on any “low hanging fruit” type opportunities, the fleet professional and consultant can move on to more complex opportunities to gain efficiency or better performance. More advanced initiatives often require senior management participation.
Top-level engagement is key to many aspects of business, including fleet.
It is essential to keep fleet management issues and opportunities on the radar of senior management through ongoing reviews in which the fleet professional provides accurate fleet data and compelling trend analysis, in particular as it impacts organizational objectives. The most successful fleet professionals gain organizational buy-in through strategic fleet review meetings between their C-level executives, fleet organization and industry experts. These strategic review meetings present the fleet professional with the opportunity to convey challenges, initiatives, industry trends and opportunities to senior managers in a way that is meaningful— always the first step in gaining traction for an organizational initiative.
The use of industry experts not only bolsters the professional’s position in the meeting, but presents an ongoing opportunity to educate executives on fleet industry best practices, strategic opportunities and information on fleet initiatives that have succeeded for similar firms.
CONCLUSION
More data is available to the fleet professional today than ever before. In order to drive success without getting bogged down in day-to-day details, fleet professionals must use this data and the expertise of fleet consultants to convey the fleet’s needs and opportunities to senior management. Using the expertise of an independent fleet management consultant can provide the added credibility and objective perspective needed to secure senior management buy-in for critical fleet initiatives. The organization must use intelligent fleet data and best practices to continually drive cost savings and efficiency.
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