How Modern Automotive Companies Can Generate Value With Connected Mobility

From connected cars and fleets of commercial vehicles to connected smart home devices, it’s estimated there are more than 14 billion products equipped with sensors, processors, software and connectivity worldwide—a number that is projected to almost double by 2030. The sheer amount of connected product data—petabytes generated on a daily basis—is reshaping manufacturing by presenting new business opportunities as well as tackling challenges that have for a long time stalled innovation. And the automotive industry, consisting of car companies and heavy truck manufacturers, stands at the heart of this modernization and data revolution.

Here are some of the ways that modern automotive companies are using connected mobility data to solve today’s business challenges and unlock new opportunities:

• Performing effective root cause analysis enables auto manufacturers to resolve production issues that can risk customer satisfaction and operation efficiency. By connecting operating vehicle data with production data, manufacturers can better understand the cause of vehicle defects and warranty issues to drive continuous improvements. 

• By leveraging connected mobility data, auto companies can improve the customer experience of buying, servicing, driving and financing an automobile or fleet vehicle. Improved customer retention through post-sale connected services such as vehicle maintenance reminders are additional ways auto companies are boosting customer benefits. 

• With data from IoT sensors, auto manufacturers can monitor vehicle components and systems to predict when maintenance is needed. By following a proactive maintenance strategy rather than relying on scheduled inspections, auto and truck fleet managers can prevent breakdowns, reduce repair costs and avoid unplanned downtime. 

• Auto manufacturers can drive new revenue streams through connected services such as in-car infotainment, real-time navigation assistance, remote services, and personalized insurance programs based on driver habits. By leveraging data-driven solutions, owners and operators can expand into new business territories with data-driven solutions, including advanced cargo-tracking, real-time scheduling, tailored in-transit services, and automated freight or fare adjustment based on travel conditions. 

• Manufacturers and fleet managers can optimize supply chain performance of spare parts inventory, distribution, and vehicle maintenance. With the right data points, manufacturers can avoid holding costs for over-ordered parts and waiting periods for under-ordered parts. Ensuring timely availability and reducing downtime also boosts customer satisfaction. 

• Connected vehicle data allows fleet owners and operators to manage fleet operating costs effectively. By monitoring vehicle status and location in near real time, fleet operators can optimize routes for speed, reliability, and fuel efficiency.

In an industry where connected vehicles generate massive amounts of data on a daily basis, that data often remains siloed across organizations. This means automotive companies struggle to unify analytics to realize greater efficiencies and product quality—and ultimately enhance customer safety, satisfaction and loyalty. 

When the right data can’t be brought together and analyzed, it is challenging to perform root cause analysis of problems that set off the “check engine” light. Since connected mobility data isn’t integrated with other information around warranties, service records, or even weather and traffic patterns, it’s challenging to perform powerful mobility analytics to unlock new vehicle innovations.

The new Connected Mobility Data & Analytics joint solution from Snowflake and DXC Technology provides a holistic approach to integrate connected car and truck data with internal and external sources to improve predictive maintenance and product quality. With the Snowflake data sharing capability, organizations can bridge data across clouds and regions, bringing together fleet, customer, internal and third-party data. In addition to leveraging these integrated insights internally, monetization of connected mobility data is made possible through Snowflake’s Marketplace. 

To learn more, join our upcoming webinar to hear how Snowflake and DXC Technology empower automotive companies to harness the full potential of their connected product data. Reserve your spot today.