I have been fascinated with two things my entire life—trucks and mathematics. More specifically, mathematical statistics, comparative analytics and benchmarking metrics. With the volume, variety and velocity of data now being produced in the trucking industry, I feel like a kid in a candy store. Data is the bedrock of productivity, performance, and cost reduction. However collecting the data is fruitless if you are not using the correct metrics to analyze it. The variety and relevance of data is opening our eyes to new connections and different factors that until recently were not even a blip on a fleet manager’s radar—or mine for that matter.
Take MPG for example. For years fleet managers used the metric of overall MPG to measure their fuel expense, a metric that is equally useful in calculating your total operating cost, forecasting your budgets and rating drivers in a leaderboard analysis. Often referred to as an activity metric, many fleet managers conclude their analysis here because historically that was all that they needed.
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