The automotive industry today faces disruptive change with huge volumes of data being generated by the connected vehicle technology. Industry experts estimate that every car will be connected in some way by 2025 forcing auto makers and the entire ecosystem of players in the automotive value chain to look beyond the traditional approaches to handle data.
Connected vehicle data can provide valuable insights that will enable automakers, dealers and vehicle owners to make better decisions in their day to day job. Not only does it help them understand how vehicles perform under real-world conditions, but also combine it with internal and external data sets to answer specific questions and make data driven business decisions. Some key use cases include:
- Vehicle owners/Fleet managers: Vehicle trip/route management, fuel efficiency management, proactive vehicle maintenance, vehicle utilisation and driving behaviour monitoring.
- Vehicle drivers: Vehicle condition management (brakes, gear ratio), vehicle operation (Load, speeding, idling), real-time alerts and collaboration with service engineers, dealers and nearby vehicles within a fleet.
- Service engineers: Real-time vehicle breakdown alerts, remote problem diagnosis, vehicle usage & handling analysis that aid in warranty approval decisions, predictive maintenance alerts.
- Dealers: Proactive failure tracking & alerting, parts planning and faster response to customer needs
- Product development & pricing teams : Vehicle condition monitoring, vehicle usage analysis in correlation to external factors (weather, road conditions) , failure analysis, all influencing future design and warranty pricing decisions
While the business need is fairly well understood today and the auto industry players are quickly scaling up on connected vehicle technology adoption (sensors and devices), moving from data into Insights will require companies to invest in:
- Big data foundation platforms for data ingestion, storage and aggregation
- Appropriate methods, tools and ability to merge internal organization data with external data (market, weather, government, social, research)
- Data science capability and tooling to derive insights from data and predict future outcomes based on data
- Visualization tooling and capability to deliver insights at the point of action
Recent market survey by Capgemini and EMC (http://www.capgemini.com/resources/big-fast-data-the-rise-of-insight-driven-business), has found that about 50% of organizations surveyed have already implemented big data technology or are in the process of doing so, with a further 21% planning to begin implementation within the next 12 months.
The success lies in the speed and agility with which companies are able to take advantage of relevant competencies, offerings and technology capabilities available in the market to accelerate their big data journey.
In Summary, Insights at the Point of Action Will Redefine Competitiveness.