Companies rely on data from a wide array of sources to make business decisions, but how do executives optimize that knowledge?
In a recent Monitordaily blog, Big Data and the C-Suite: What It Means for Fleet Executives, two AmeriQuest Transportation Services executives discuss how it isn’t just a matter of data reaching executives, it’s a matter of the right data reaching them.
Frank Bussone, CTP, vice president of Fleet Planning Services & Data Analytics and Tom Toton, vice president of Financial Services, point out how companies are literally drowning in data. As the blog notes, “The problem with Big Data is that it’s too big.” Fleet owners and other key executives are charged with making so many important decisions they don’t have the time to examine the massive amount of data that may be available to them.
The authors note that for fleet executives, being able to assess the total cost of ownership (TCO) of their assets means having access to internal data on vehicle, maintenance, insurance and fuel costs as well as external data on technology, regulations, and other vital industry issues. Putting that all together in a way that’s usable for executives is a joint effort that relies on involvement and input from disparate stakeholders, from maintenance to IT to finance to fleet management. In other words, those individuals that deal with the day-to-day operations of the fleet need to be a part of the compilation process.
Although cloud-based analytics and dashboards that provide “drill-downable” data have allowed executives to make better use of information processes, it’s still a team effort to make sure that the data used is relevant and will aid in the decision-making process.
To learn more about ways that fleets can optimize data, read the full blog.