Cars are becoming a necessity more than luxury with the current pandemic that is challenging Status Quo. The automotive industry has seen a steady growth over the decades, but the evolution of the industry to provide superior digital user experience is yet to keep pace with this growth.
The past decade has seen the utilization of various digital technologies into the process of making, driving or monitoring a motor vehicle. Various digital technologies like AI/ML, Big Data, Industrial IoT, Spatial Analytics are fast converging into the automobile industry.
Smart data is helping the automotive industry advance further in several ways by enhancing overall vehicle experience
including uptime predictions, reduce cost of repairs, advanced driver assistance systems, self-driving vehicles.
Smart Data collected from automotive is becoming the glue or the new fuel for growth. Converting this as an asset and building new business models atop this is becoming the new norm.
Below are the Smart Data Use Cases used in the automotive Value Chain
Automotive Industry & Smart Data
Below are few areas where the automotive industry is using smart data analytics to go to the next level:
In today’s connected world, cars are becoming the identity of the owners. Few Car Makers are enabling this as an unique identity as we drive-in to a bank to identify ourselves.
Superior Driving Experience
Smart data analytics have transformed driver experiences, providing predictive and preventive real-time data insights both from inside and outside the environment to improve driver safety, vehicle services thereby improving the overall driving experience.
Deep Personalized Experience
Automotive retailers collect massive amounts of customer data both from within and outside the organization including federal agencies to get to know their customers and car better. They create real-time & massive historical insights to provide personalized experience for car buying, selling, ancillary opportunities like maintenance, insurance.
Product Quality & Recall management
Sensors in automotive are growing by the day. They collect information like speed, emissions, fuel consumption, usage data for resources, and security. All these data can be used to find patterns and resolve quality issues or prevent them from happening altogether. Analytics is used to increase superior customer experience and quality management at an efficient & effective level. Using this for preventive maintenance will enable reduce smart recalls.
Smart City Planning & Safety
Smart City problems like effective traffic management, distribution of resources, carbon emission and environmental issues can be tackled with combining insights from automotive data and other sources such as satellite, mobile, GPS data, etc.
Virtual Car Appraisals
Sensors collect information like speed, usage data, pictures, patterns to evolve a persona of the driver. These smart data in combination with data from federal agencies can give insights into car usage, accidents, damages, by identifying patterns from amongst the large data collected. This can be further used to provide the right appraisal for an used car.
Supply Chain Management
Pandemic has taught us new lessons in supply chain management as parts are manufactured and assembled globally. The global supply chain delays have delayed go-to-market for many automobile models, electric vehicles due to lack of circuitry, sensors, boards and other essential foundational elements needed to make an automobile. Smart data comes to the rescue in this area to plan and organize this better based on the open supply routes and options
Can we build a Smart factory with minimal dependency on all resources including people to build the same? With Industry 5.0 this is now becoming a fast trend in this pandemic world. Automotive manufacturers are rethinking competitive advantage by applying new age digital technologies to build agility, applied innovative, predictive automation and intelligence across all areas of the manufacturing life cycle
So, with the rapid increase in the advancements from the ever growing digital world. Smart Data has been the foundational aspect of all these advancements since the amount of data collected for all these developments increases massively and needs parallel processing to handle this large data generated every moment. We can now say that. Smart Data has finally reignited the digital passion and superior customer, driving experience in the automobile industry.
Nagesh K P
Head – Data & Digital Service Line
Business & Technology Evangelist with 22 years of experience in IT products, consulting & services space. Adept at envisaging & realizing new business models by solving business problems in diverse industries. Currently working on harnessing varied & disconnected Data through convergence of emerging technologies like Smart Data & Analytics, Self-Service BI & Visualization, APIs, Cloud, IoT, Data Science, Low Code Systems to form integrated solutions that are more powerful than ever before. Avid Learner acquiring new skills in Data, Digital and Indological sciences.
Published in Telematics Wire