Putting Advanced Analytics into Overdrive
Jan 17, 2019
The world has really shifted gears in the past decade bringing forth a new wave of technological advances in all fields of business. Technology is now incorporated in things we never imagined, and the data generated behind this technology is increasing as well. The automotive industry is one of the biggest fields to utilize data driven technology in multiple aspects of business operations. Think of the modern-day car, it’s no longer 4 wheels and an engine, but a highly sophisticated rolling computer. No, I’m not talking about an exotic Lamborghini or a futuristic Tesla either, something as common as your everyday Honda is jam packed with highly advanced data driven technologies like:
- Blind Spot Monitoring
- Front end collision assistance
- Active Cruise Control
- Infotainment Center
- Parking Assistance
- Tire Pressure monitoring system
Now imagine how much data is generated from all this technology. An F1 race car generates 250 GB of data in a single race, while an everyday connected car generates 25 GB an hour. Cars do not come equipped with TB servers to host all the information being generated. The analytic process in place must: ingest the data, run the needed analytics, produce an output and discard the information; all at the most efficient pace possible. For example, take one of the technologies listed above such as front-end collision assistance. Sensors placed on the front of the car constantly analyze its surroundings checking both the speed and distance of the cars around it. This information is processed by the car then alerts you with a beep or alarm helping you to better react to the driving conditions ahead.
Data analytics is used heavily outside of the actual products themselves in the automotive industry. Marketing is extremely important for all industries and especially in the automotive market. With a shrinking engaged-user audience, it’s important to get the most out of every dollar spent on advertisements. By refocusing data collected from the cars on the road and combining it with a Customer Relations Management (CRM) system in place, analytics can be used to uncover more reasons why someone is selling or buying another vehicle. Marketers may ask questions like: Is the car breaking down too often? Has the user owned the vehicle a long or short amount of time? These data points can feed into a CRM system to increase relevancy and user specific advertisements based on consumer experience and preferences.
Before a car ever reaches a customer, analytic processes are performed to ensure the highest quality product is reaching the customer. An example of this quality assurance check is during the engineering process, in which the sensors embedded in your car are also used to help the engineers check possible problematic parts and flaws in the manufacturing process. Car makers that are not utilizing the most cutting-edge analytic techniques will lose their competitive edge. So, if your organization isn’t utilizing advanced analytics, it’s time to do it fast, do it furious!