Three Steps for Navigating the Data Dilemma
While the material handling industry is evolving rapidly with the development of more data-gathering tools, we often overlook and underutilize the wealth of data we've already collected. In fact, recent reports estimate that less than 20% of the fleet data that is captured is utilized.
Fleet and supply chain managers may feel overwhelmed by the sheer volume of information available to them. These three steps help define your data collection and analysis plan to leverage the information effectively:
1. Identify your current capabilities
Review your existing technology capabilities for capturing data. Implementing a fleet management system allows you to collect data regarding lift truck performance, health and utilization as well as operator behavior. If your fleet isn't connected through a fleet management system, it may be time to consider one. You can start small and take a phased approach to increase capabilities as your fleet grows and your needs change.
2. Establish your objectives
Start by identifying and prioritizing a handful of objectives that align with your business priorities. You can gradually broaden your efforts as you achieve your initial goals. Clarifying what you initially hope to achieve through data analysis can make it easier to define the next steps as each goal is completed.
Some examples of data-driven objectives could be strengthening compliance, increasing efficiency, improving productivity, enhancing safety, reducing impacts, optimizing utilization and reducing service costs.
3. Determine how to share and use the data
It's essential to have processes in place for analyzing data and sharing the results with stakeholders. Operators, service technicians, supervisors and human resources can all learn from the knowledge acquired through data collection and analysis.
Achieving your goals also requires establishing accountability and a framework for action. Implementing processes, resources, support (internal and external) and commitment is imperative to ensure decisions are made based on the data.
There are multiple approaches to capturing and reviewing data. The approach that you choose may depend on your organization’s capabilities. Customers generally choose one of three strategies regarding this question:
Focus on the data available within available applications and standard reports.
Rely on analytics or business intelligence tools available from your supplier.
Use an Application Programming Interface (API) or Secure File Transfer Protocol (SFTP) import available data into your own analytics tools and applications.
We live and work in a data-intensive world. The key to finding value in this data is to prioritize the information you need based on the goals you want to accomplish.
Rather than capturing and analyzing data and then figuring out where the knowledge can be applied, begin with the end in mind. Regardless of the goals you select, there is a good chance there is data available to help you achieve them, and a variety of resources to help you navigate the process.