5 Predictions for the Future of Telematics
What customers want
Part of what makes this space such a challenge is the wide spectrum of needs that vary based on people, processes, equipment instrumentation and site conditions. That being said, we can certainly boil things down to the following key customer needs:
- “Deliver the data to me in an easy to consume manner and make sure it is timely and accurate”
- “Show me exactly where all my equipment is”
- “Let me see how much each piece of equipment is being utilized and how close the utilization is to our target”
- “Help me track how much fuel is being consumed”
- “Proactively prompt me if there’s a maintenance issue that needs to be addressed”
- “Let me access this information from anywhere (i.e., web and mobile)”
Why current solutions are falling short
Though the actual technology behind gathering data from machines has been developed and proven, the fact of the matter remains that only about 15–20% of heavy equipment are instrumented with telematics today.
While part of this is simply long decision making cycles and the difficulties involved in evaluating solutions from different vendors, one of the biggest hurdles is the fact that equipment manufacturers and 3rd party telematics box vendors have taken a “walled garden” approach in their go-to-market strategy.
Instead of empowering equipment owners to route information to their data warehouse and analytical dashboard of their choosing, vendors instead choose to sell licenses to proprietary software that unfortunately inhibits consolidation and normalization of information. This is unfortunate given the Association of Equipment Management Professionals (AEMP) has a well defined standard for how telematic data should be structured regardless of OEM.