Improve Fleet Performance With Data and Analytics
Fleet data is becoming increasingly important in improving performance, managing costs and increasing efficiency, but data alone isn’t enough. Having the ability to analyze current and historical data turns information into knowledge that can uncover actionable insights. Artificial intelligence is taking data analysis a step further and mining enormous datasets to identify patterns and opportunities to improve that would be difficult for humans alone to spot.
Through Penske’s Fleet Insight™, customers can access the AI-driven comparative insights feature, Catalyst AI™. Catalyst AI analyzes hundreds of thousands of datasets and automatically identifies similar fleets so fleet managers can create internal benchmarks while comparing their performance to like operations. There are more than 20 reports within Fleet Insight and Catalyst AI and some of the most useful reports are related to fuel efficiency and utilization.
Improving Fuel Efficiency
Fuel is one of the most significant operating expenses for any trucking company, and even small improvements in miles per gallon can improve margins and sustainability. Several factors affect a vehicle’s fuel economy, from driver behavior and maintenance to idling time.
With Catalyst AI, fleet managers can view MPG for their fleet or by vehicle or operating hub location to see how certain equipment specifications, routes or freight impacts fuel efficiency. The system then compares the fleet’s average miles per gallon to those of similar fleets to help them better understand how they are performing. The system drills down to identify specific vehicles or hubs that are underperforming compared to internal and external benchmarks. More importantly, Catalyst AI recommends specific corrective actions fleets can take to improve their MPG.
Fleets can also run reports in Fleet Insight, Penske’s online customer portal, on idling and maintenance, including maintenance compliance and the status of vehicle maintenance, to help identify how those issues could affect fuel efficiency.
Driving Increased Utilization
Maximizing fleet utilization is one of the most effective ways for fleets to improve profitability without adding equipment or drivers. Utilization can be complex, and it is important for fleet managers to understand not only which equipment is being used but also afc how it is being used. Several factors impact utilization, including routing, load planning, drivers’ hours-of-service and maintenance downtime.
Catalyst AI lets fleet managers view their utilization performance and identify which vehicles are consistently underutilized based on key metrics such as vehicle type and age. It changes hourly and daily utilization to similar fleets and recommends steps to take to improve utilization, such as reassigning underperforming assets or optimizing preventive maintenance.
Turning Insights Into Action
To learn more about how Fleet Insight and Catalyst AI can provide new insights into fleet performance, contact Penske Customer Success at hello@penskecustomersuccess.com or 1-844-426-4555.