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The power of predictive data analytics for equipment dealers

With the rise of the Internet of Things, equipment dealers are able to collect more information from machines and devices. But how can you apply this data to take your customer service to a higher level than the service level of the competition?

Collecting data

It all starts with data collection. Collecting a lot of data. By applying telematics, you can receive data from machines and devices. Think of meter readings, tire pressure, temperature, air pressure, etc. Of course, this depends entirely on the type of equipment you deal in. By monitoring this data, you can provide immediate added value to your customers. For example, you can inform them on the basis of the hour meter that a service is imminent. Or you can advise them to check their tires because the tire pressure is too low.

Drawing conclusions from big data

Data only becomes truly valuable when you turn it into information. By analyzing a large amount of data, big data, you can discover trends. A few examples:

  • On average, a certain part breaks down after 5 years. This part costs little money, but it causes major problems when it breaks down. Therefore, it is wise to proactively replace this part every few years.
  • With tire pressure below a certain value, the probability of a flat tire increases by 50%. Therefore, the customer should be called immediately when the tire pressure drops below this value.
  • An alternative, similar item from another manufacturer is often chosen for a particular part despite its higher price. It turns out that the faster delivery time of the alternative item is decisive for customers.

"Big data and its analysis is going to help you serve customers even better."

To draw these conclusions, you need not only the big data, but also the right software plus the necessary data analysis skills. With the knowledge gained, you can make decisions that directly cut costs or generate additional revenue.

Turning predictive power into improved customer service

Big data and its analysis is going to help you serve customers even better. By making predictions based on data and acting proactively, you will always be one step ahead of the competition. By looking at equipment smarter, with the right software tools and analysis skills, you can:

  • Reduce equipment downtime at customer sites.
  • Respond better and faster to customer demands, wishes and questions.
  • Make maintenance, service, repairs and parts replacement more valuable to your customers.