Organizations that leverage predictive analytics have a leg up on the competition, studies show. But before predictive models can be developed, organizations need a clear understanding of its precursors, namely connecting, monitoring, and analyzing.
So where does the material handling industry stand?
If you look at the use of telematics in the auto industry, you get a good idea of where we are heading. The diagram below shows the progression of data use, from reactive models in green to proactive ones in blue. With the exception of railroad and power companies, which have been particularly successful at moving beyond the reactive phase, the majority of industrial companies have yet to reach the higher levels of predictive analytics, according to an Accenture study released last year.
I posit that the MHI and its suppliers are presently at the “Alerts” stage, poised to really begin taking advantage of , for example, all the forklift telematics data that has been accumulated over the past 20 years. However, the telematics systems currently running on most trucks are only reporting data and generating alerts. The inability to move up the spectrum to proactive is frequently due to issues such as old physical hardware and its design.
At TotalTrax, we are taking the lead in removing roadblocks to progress with the combination of hardware and software that embody the SX/VX Advanced Telematics product line.
In our Phase 2, we introduce the first Dynamic Dashboards that fully automate the most common jobs done in managing a warehouse: safety, maintenance and operations/shift management. Using both exception-based and self-service principles, we enable managers in these disciplines to sign in each day to a single pane of glass, presenting a Dynamic Dashboard as below (top box):
The Dynamic Dashboard presents the critical KPIs the manager has setup through the system in a way that once you read the dials you can quickly understand if and what action is necessary to optimize the warehouse and the operators. By clicking the appropriate dial, the manager can drill through to the issues (next 3 boxes) and quickly diagnose and fix the issues that contributed to the break in KPIs.
This is one illustration of how we are transforming data and the telematics industry from Reactive to Proactive, using data to produce information and using information to produce insights.