With the introduction of connective technology in our homes, individuals and families are becoming more accustomed to interacting with equipment. Our cars can now be connected to our smartphones, so “Big Data” is going to play a crucial role in the continued evolution of our fleets.

In the context of fleet hire and personal leasing providers, “Big Data” will enable them to “predict the future”, specifically when a vehicle needs a service, a contract needs to be renewed, or to map real-time driver journeys.

How else will “Big Data” have an impact?

Modern vehicles already contain a wide range of advanced technologies, including sensors, onboard computers and in-built processors. As a result,  a wealth of information has been generated, which can be utilised by leasing companies.

These companies are going to see a shift in the way they interact with their clients. No longer will they be able to operate solely as a leasing company that manages fleets; they will have to evolve into data companies that lease vehicles.

For example, if a driver has forgotten that it is time to replace their engine oil or book their car in for a service, a customer service operative will be able to tap into their vehicle data and contact them directly.

Not only does this prolong the life of the vehicle, but it also enhances the service a client receives from a leasing company.

The evolution of vehicle connectivity

From Google Home to the Amazon Echo, we are increasingly reliant on interactive devices, and the same applies to our vehicles. Manufacturers are increasingly creating vehicles with inbuilt technology that connects driver and car.

However, the next stage could be connectivity between all vehicles in a fleet. This technology could be utilised to minimise driver risk, prevent accidents and streamline the leasing company’s compliance processes.

Alternatively, if certain drivers within a fleet of hundreds regularly speed, or take a longer route to their destination, then this data can be tracked and utilised by the leasing company to provide future efficiency and operational suggestions to its clients.

By monitoring connected vehicle sensors, businesses can ensure drivers aren’t misusing the fleet, whilst minimising their upkeep costs over time.

The introduction of General Data Protection Regulation (GDPR)

However much insight “Big Data” can give a company into the driving habits and whereabouts of its fleet, from May 25th 2018, new regulations are coming into force that impact how this data is stored and used.

GDPR will reform and expand upon the existing 1998 Data Protection laws and will supersede the older legislation, with tougher fines for non-compliance.

Fleet operators who utilise “Big Data” and vehicle connectivity need to establish boundaries between data collection for the safety of their drivers, and data collection for the benefit of business.

For example, if a fleet uses location-based tracking, the fleet manager or sales team need to fully explain how this data will be used, and the driver must give full consent for this information to be collected. 

 

In summary, leasing companies are going to have to reform the way they operate to take into account “Big Data” and vehicle connectivity. Technology is always advancing, and to provide clients with a truly bespoke service, companies need to embrace these changes. 

To find out more about our full range of fleet management and leasing services, contact the team of 0844 854 5100 or email CSalmon@sgfleet.com.