The return on investment in fleet tracking technology has become so intuitive that the industry conversation has shifted from fleet companies asking, "How does the technology work?" to the question, "Which partner should I choose?"
Leading this change is Teletrac, a software company focusing on big data for vehicle fleets. "Two factors driving our company forward are aggregating industry data into actionable outcomes and helping customers who have trusted us with their business to win in a competitive marketplace," says Tony Eales, CEO of Teletrac.
Industry data helps them truly understand customer needs. The ability to comprehend consumer markets has changed significantly with the advent of new technology. The use of big data is among the most powerful of these methods, allowing a privileged look at consumer trends far richer than traditional market research.
The symbiotic relationship between telematics and big data is a sentiment at the heart of all successful markets: finding ways to get closer to the consumer.
Big data provides an intimate view of user content by helping uncover industry shifts, areas for growth and new markets that can inform smart business decisions. This practice brings companies more meaningful interactions with their customers by zeroing in on client behavior.
"We process more than 25 million data transactions daily—a volume of data that is growing rapidly alongside the explosive growth of the telematics industry," adds Eales. Teletrac utilizes a cloud environment that supports that growth and has the powerful ability to handle data spikes at any level. Our cloud platform is able to process data that addresses fleet needs across all industries:
• Intelligent data analytics allows fleet managers to quarantine the root cause of fuel waste and high fuel consumption to help minimize operational costs.
• Personalized knowledge about a fleet's analytics leads to a variety of productivity incentives, such as decreased idling, deeper insight into vehicle diagnostics, faster routes and improved customer service response time.
• Data analysis helps companies easily pinpoint problem areas and take corrective actions to minimize safety risks. This can lead to successful ventures such as lowered insurance premiums based on consumer safety behavior.
Teletrac has helped automate more than 20,000 fleets across all industries around the world. With over 500 employees, Teletrac focuses on fleet types of all sizes; from basic GPS vehicle tracking systems, to supporting the needs of enterprise customers looking for compliance solutions, third-party data integrations and native business intelligence. Today, Teletrac is estimated to have over 200,000 units in service in over 87 countries globally.