More data is collected from a vehicle than you can imagine – all the basics, like real-time location, fuel levels and odometer readings, are easily accessible and ready for analysis by fleet owners. There are also ELD devices that track the number of hours your drivers are working for. If they go over the allotted hours of service then they are breaking the law so if you don’t have them on your fleet then it is worth looking at this review to find the best one. But there are hundreds of other data points which fleet owners can tap into to learn where their real competitive advantages lie. For example, fleet owners can decisively reduce their operational costs (and enhance safety!) by gaining insights on whether drivers are wearing seatbelts, how long each engine has idled, and if a blinker was engaged before turning. Did yo know that there’s dedicated insurance for fleets too? As Christina Rogers wrote in her article with the Wall Street Journal, this large data set can be contextualized, analyzed and leveraged to drive profitability and growth.
Vehicle data should be secured and properly managed throughout its entire lifespan just like any other closely guarded trade secret. Numerous auto-makers and their affiliated services are already monetizing this rich, new source of data. For example, McKinsey & Co. estimates data from connected cars will be valued at up to $750 billion by 2030. This trend will only accelerate as newer vehicle models come equipped with cellular modems, driver assistance devices, and other digital services. Fleet owners, such as delivery truck or car rental companies, stand to benefit the most from this sea change beginning with enhanced operational efficiencies and new opportunities for employee training.
On the other side of the equation, there are inherent risks with unsecured data points generated by vehicle fleets. For example, the GPS coordinates of individual vehicles can be spoofed, or worse, malicious code can be dropped into vulnerable infotainment systems leading to catastrophic system failures. To mitigate these risks and deter motivated cyber-attackers, subscribing to a cybersecurity service is a sound business judgment to secure data and to ensure fleets are operating nominally.
Trillium is a leader in providing secure data lifecycle management and cybersecurity solutions for vehicle and fleet operators. In addition to ensuring the integrity, authenticity and security of fleets’ data, Trillium Secure anonymizes it for fleet operators’ peace-of-mind when it comes to regulatory compliance. In other words, Trillium works to protect your data – that is – your secret sauce!