Tag Archive for Business Intelligence

NAFA Drives Business by Telling Great Stories

Atlantic-City

Business intelligence tools are designed to retrieve, analyze and report data, and anyone trying to manage a business these days knows this: Data is everywhere. But how do you make sense of it all? On a vast scale, Google’s ability to handle large data sets in an efficiently has contributed $54 billion to the U.S. economy in 2009. Handling data effectively is big business.

At Webtech Wireless, we measure success by how your business implements our telematics solutions. Telematics is data. Data is information. Information allows you to gathering stories about how well your fleet is performing, and knowing how to use these stories is key to running your business better.

What Is NAFA’s Institute & Expo?

Another intelligent way to make sense of a lot of data is to attend a trade show and that’s what we’re doing­­—this time we’ll be at the NAFA Institute & Expo Show Management running April 23 to 26 in Atlantic City, New Jersey. Billed as a “Created BY Fleet Managers FOR Fleet Managers” event,

NAFA’s annual Institute & Expo is known as “the largest event of the fleet management industry”. It’s a great opportunity to network with thousands of fleet professionals and take part in cutting-edge training and education.

We recommend:

We’ve culled through their extensive list of seminars to recommend a few must-see seminars. As well, we found a link so you can easily download a schedule of the entire event (at bottom). If you’re planning on attending 2013 NAFA Institute & Expo, make sure you come see us at booth 728.

TUESDAY, APRIL 23

10:30 am “Thinking Ahead: Using Remarketing Trends to Forecast the Future”

TUESDAY, APRIL 23

1:00 pm “Breakthrough Technologies and Future Trends for Fleet Telematics”

WEDNESDAY, APRIL 24

10:30 am “Make Better Decisions through the Power of Technology”

THURSDAY, APRIL 25

3:30 pm “Safety 101 – Using Insurance, Driver Training and Crash Analysis to Manage Fleet Risks”

FRIDAY, APRIL 26

9:30 am “Getting to the Top: How Fleet Managers Can Gain Access to Executive-Level Decision Makers”

Download the 2013 NAFA Institute & Expos schedule

 

 

Drawing Intelligence from Data

Huckabee addresses the TMW Transforum 2012

For anyone who saw the irreverent film, Freakonomics (“the hidden side of everything”), knows that we’re now collecting data on a vast scale. The stories that are emerging from all this data are remarkable. Who knew that, with this accumulation of data, we could prove Sumo wrestlers were cheating or that the reasons politicians cited for falling crime rates were wrong?

At the TMW 2012 Transforum this week in Orlando (attended by 1,700 vendors and customers), a key theme was, “how do we draw intelligence from data?” According to TMW Senior Project Manager, Michael Malecha in his session on business improvement, “We have 86% more data than even just two years ago, but how do we draw meaning from it?” He also stated that 93% of CEOs believe they are losing opportunities from a lack of tools to handle this data.

Since all data sets contain noise, the secret is in discerning the noise from the signal. The signal, of course, refers to meaningful trends.

His cautionary message is simple:

  • If we treat noise as a signal, we spin our wheels;
  • If we treat signal as noise, we miss opportunities.

Arkansas Governor Mike Huckabee (speaking neither as politician nor as pastor and pictured above) decried the state of personal accountability when he said, “We’ve created a monster”. Sometimes, the gathering of data can be seen as a monster—Big Brother tracking our every move. But business intelligence (knowing how to draw meaningful conclusions from information), serves the needs of small to medium companies just as it does large—if they know what to do with it.

In order to optimize fleet operations and enhance financial performance, fleet managers often turn to automation. Initially, the desire is for dot-on-a-map visibility of their vehicles. Using GPS/AVL technology, they collect location and sometimes diagnostic data in real-time. As the data accumulates, managers may want to report on it, such as exception reporting to filter out only data that doesn’t conform to expected norms. Data then starts to fulfill a more complex need: analyzing trends to facilitate better cost projections (such as optimizing fuel usage), and route planning. Finally, with data streaming in from multiple third-party sources, they can integrate information to discover complex relationships between external events and internal actions.  This is the essence of business intelligence.

TMW CEO, David Wangler, in the general session keynote speech emphasized this point when he said, “It’s no longer the big who eat the small, but the fast who eat the slow”. In other words, becoming leaner and more efficient enables us to outmanoeuver the competition. Your GPS/AVL fleet tracking solution is sending you real-time data that not only provides you with visibility here and now, but down the road, will enable you to see trends and anticipate opportunities.

Perhaps as a fitting representation of the need to draw intelligence from data, the TMW awards gala was warmed up by Jean Francois, the Quebec-based visual artists who drew fantastical pictures for everyone while dinner was served. Accompanied by pulsing rock music, the images appeared abstract and confusing at first until he ceremoniously turned them over (new right-side up) and delighted everyone with images of the Statue of Liberty and a long-haul truck.

Jean-Francois-TMW-WEW