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Fleet Advantage survey shows fleets can better use data to lower total cost of ownership

Fleet Advantage has announced results of its latest industry-wide survey addressing the gap that remains for today’s fleets in the way they utilize data and business intelligence to run their trucks and fleet operations.

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David Sickels is the Associate Editor of Tire Review and Fleet Equipment magazines. He has a history of working in the media, marketing and automotive industries in both print and online.

FLEET-ADVANTAGE-SURVEY-LACK-ACCESS-BUSINESS-INTELLIGENCE-LOWER-TCO-Infograohic

Fleet Advantage has announced results of its latest industry-wide survey addressing the gap that remains for today’s fleets in the way they utilize data and business intelligence to run their trucks and fleet operations.

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The online survey was presented to more than 2,000 fleet executives during April 2019. Approximately 33% of respondents said they still do not have a software platform that allows them to manage their fleet’s TCO all in one place, Fleet Advantage says.

According to the survey results, a quarter of fleet executives (26%) said their current software analysis platform does not combine financial and operations data together; another 48% said their current platform does not provide benchmarking reports for the industry or other similar fleets. Approximately 62% said their platform does not or they’re unsure if it produces a P&L statement for each truck in their fleet.

Regarding data that fleets are receiving from their trucks, 30% said they do not have easy access to reporting and analysis of this data. This is critical since 80% of respondents agree that access to better reporting in an easy-to-use fashion would lead to better decision-making for their fleets.

Many fleet executives are still unable to share critical data and information across the organization. Data found in these reports is crucial for various departments to collaborate on the right strategies to implement across the entire organization. More than a quarter (28%) said their fleet management resource does not provide executive summaries that can be shared with others and another 14% said they don’t have the functionality to provide such reports from one simple, easy-to-use tool.

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