Telematics, big data and analysis are the three important ways to advance the automotive industry. In this article, we will understand how big data analytics can use information processing insights to help transform the automotive and transportation industries worldwide.
The future of telematics is big data.
Traditionally, in most automotive and transportation companies, professional business processes are always analyzed and modeled based on any available limited empirical data or contextual information. The correct data are few and far apart. Or, even if the required data is available, companies have little technical know-how to use all the information they need to use. It is a difficult task to deal with such situations, in which companies rely heavily on conventional methods, such as checking previous driving records, including considering people ’s age and gender, and regional demographic information, to accurately predict The level of risk in its consumer group. This is accidental, clumsy and unreliable.
Nowadays, with the help of advanced big data analysis, information accessibility and telematics technology, people have a new light on the current understanding, provide a new starting point for dialogue, and create new potential results that were not possible before. The “big data” we know is making everything better. It is changing the way vehicles are made, how they work, how we use them and how they collaborate with everything else in the world: from vehicle assembly to insurance underwriting, traffic models to optimizing traffic routes, big data is changing the world ’s cars / Development of the fleet transportation industry
Big data analysis plays a very important role in the field of telematics. The fact is that telematics science involving telecommunications and vehicle technology proves how big data analytics can improve supply chain management, fleet management, increase production and significantly reduce material costs, not to mention quality and safety issues that never arise. The use of appropriate big data analysis will be compromised. In fact, the use of relevant data directly brings more opportunities. In this context, we will see how big data introduces transformative elements into various industries, especially in the insurance, finance, automotive, and transportation industries, and improves its business processes.
Telematics has ushered in an era of great changes. Vehicle insurance methods and driving or maintenance methods are constantly improving.
Earlier, we have seen that vehicle insurance and maintenance standards are based on some kind of speculation and rough use of the raw data available. However, through the use of telematics technology, you can quickly access strong data evidence, which can improve the entire branch of a commercial enterprise and change the driving behavior of the driver.
Thanks to telematics technology, the driver can also use the large amount of data obtained from the vehicle. This is also one of the major changes in the promise of telematics. As far as valid data is concerned, people can immediately access it from their connected cars in a simple way, and the same data related to this can also be transmitted to the manufacturer or insurance company. Therefore, when the data is available and accessible to users, they will have a better understanding of their vehicle performance, which can ultimately help drivers adopt good driving behavior. Drivers will have access to GPS-related data, which will let them know their driving style, including real-time information about fuel consumption, speed limits, rapid acceleration, braking, and phone distractions. All this useful information can not only affect their driving performance, but also extend the life of their cars.
Drive innovation and continued growth in auto insurance
Just to give an example: consider the insurance industry. Through the perfect combination of telematics and big data analysis, insurance companies can enhance their business processes to an unprecedented level.
Basically, the insurance industry is based on analysis and probability. Therefore, it is always in the best interests of the insurance industry to correctly access accurate and in-depth data to identify the lifestyle and risks of each customer. In this area, telematics technology has added many important value propositions, which are critical for insurance companies and their paying customers.
With telematics and big data analysis, insurance companies do not have to rely on guesswork to determine premiums for their customers. It allows insurance companies to reward policyholders who exhibit good driving behavior and check the health of their vehicles by eliminating speculation, thereby rewarding them with lower premiums and product returns. This is nothing but a big data method for telematics insurance.
Telematics is an active trend leader, and has grown exponentially in recent years. It has a positive impact on both the company and the consumer, and it turns out that this is a win-win deal for everyone. As far as telematics is concerned, big data will also go hand in hand. The combination of big data and telematics technology will not only benefit consumers, but also automakers and service providers. Because this relationship is indeed symbiotic, big data will become the future of telematics. Embrace big data and telematics on a large scale!