Having the right vehicles on the road and knowing when to take those vehicles out of service altogether is vital to effectively managing downtime, but how can you determine which vehicles need replacing first? Today, innovative fleets use statistical analysis coupled with Big Data to pinpoint minor issues before they become more significant problems and increase downtime.

Typically, when you have a question about your fleet, you must search for the information and run reports. Traditional technology provides results that are often overwhelming and impossible to provide actionable outcomes. However, by incorporating statistical analyses to coincide with Big Data reports, results include specific reasons why certain items are contributing to higher fleet costs.

This advanced analytics technology examines current maintenance data and occurrences and previous vehicle history to establish failure ratios. Then it goes a step further and identifies units or components that have not yet had repairs, which helps to understand and manage future costs and repairs.

For example, statistical analysis measures the frequency of brake failures and repairs, showing you when a vehicle will require a brake service based on mileage or time in service. This prediction helps you forecast, plan, and budget for the work that will need to be done and minimise catastrophic failures through preventive maintenance. As a result, you can predict major and minor component failures, which enhances vehicle replacement strategy and year-over-year budgeting.

Now, with immediate accuracy, you can identify why your fleet is experiencing increased costs, including driving patterns, the vehicle’s age, make or model, or the vehicle’s application. You quickly know where the outliers are, and which vehicles have the most significant financial impact. This type of insightful information empowers you to develop a sound vehicle replacement strategy that proactively cycles-out vehicles before they become substantial burdens to productivity and your fleet’s bottom line.

Using this insight to develop a solid replacement cycle will support your fleet’s functional needs. This will lead to vehicles in good working order doing what you need them to do: helping your business and serving your customers.

Contact us to learn more about using data to find the rights vehicles for your fleet and prevent downtime.