Published: August 27, 2014 | United States
Microlise, along with partner the University of Nottingham, has been awarded funding of £359,000 from the UK’s innovation agency, the Technology Strategy Board for Value Enhancement for Data from Assets & Transactions (VEDAT) project.
The objective of the “Value Enhancement for Data from Assets & Transactions” (VEDAT) project is to achieve customer and market value from the high volumes of complex data (Big Data) generated in real-time through telematics technology. Innovative tools and solutions that result in significant cost savings and create new value propositions within the transport and logistics sector will be created as a result of the project.
The backdrop to VEDAT is the millions of miles worth of event data generated through Microlise telematics solutions each day. This data is used at a local level by customers to understand driver behaviour, vehicle usage and customer service levels. However, taken as a whole, the data captured around driving style, risk areas and vehicle flow rates represents a whole additional dimension for Microlise to provide further innovative solutions.
The VEDAT project will take advantage of Microlise technology and market experience, as well as the expertise in hardware products of the company’s research & development team, and will utilise the OEM relationship between Microlise and a global vehicle manufacturer also involved in the project. The University of Nottingham will provide the extensive skills available through its’ Automated Scheduling, Optimisation and Planning (ASAP), Advanced Data Analysis Centre (ADAC) and Nottingham Transportation Engineering Centre (NTEC) teams.
The project will be led at the University of Nottingham by Professor Robert John, Head of the ASAP research group at the school of computer science and will use innovative data mining and advanced data analytics techniques.
The project is expected to last two years and run at a total cost of £500,000. The approaches planned for Data Exploration during this period will culminate in novel tools and approaches, with additional applications across other sectors that suffer “Data Silo” black-holes, such as finance, engineering, biotech/informatics, and other complex disparate data environments.
“As a solutions led company, we are delighted to be partnering with the University of Nottingham on this project which has secured the backing of the UK’s innovation agency, the Technology Strategy Board. The opportunities that Big Data offers transport and logistics operators are significant and we are confident that the VEDAT project will offer exciting benefits to the industry”. – Matt Hague, Product Strategy Director at Microlise