Whether it be airlines, ships, trucks, or anything in between, the transportation industry is a complex and dynamic set of processes and systems with several information points feeding into it. From passenger information and preferences to flight arrival and departure information and cargo and shipping weights, analytics gives you the competitive edge you need. Companies can find their pain points and opportunities, examine them from every angle, and use that insight to create the best product.
Use data analytics to forecast your transportation transit times accurately
The customer required a process to predict future transit times as accurately as possible while keeping in mind natural volatility.
OmniData used Predictive Analytics and Machine Learning techniques to build a model that would accurately provide transit times for the future. The model used historical data and contributing factors that would likely affect the actual transit time. From there, OmniData built dashboards and reports that illustrated the trends and model performance.
See how your transportation business would fare in a new market using Data Analytics
The customer required an analysis of route performance to understand their strength in a new market.
OmniData used passenger data to understand the normal traffic on the market. From there, OmniData built reports and dashboard that illustrated potential strategies for the customer based on time, frequency, and passenger demographics
Best Practices: Data Analytics in Transportation
Customers are relying on transportation brands to provide better solutions while taking care of their safety. Life after COVID-19 will be different and transportation companies will require deeper insights about their supply chain. Brands with a digital presence will thrive in this situation while those who cannot develop a solution will not.
Data Analytics has and will continue to become an essential part of transportation in order to maintain a competitive advantage. The transportation Industry sits on giant stockpiles of data. However, this data is rarely ever used efficiently. Companies able to utilize this data will reap the rewards.
The transportation sector as a whole lags the average performance of other B2B companies. However, it is not that hard to catch up because of the amount of data that companies already hold. Embedding data in daily tasks can dramatically increase efficiency.