If you own a car built in the last 20 years, you will find a lot of information about your vehicle in its onboard diagnostics (OBD) port. Most vehicles manufactured since 1996 are equipped with an OBD II port, which — if you have right device and cloud application — lets you monitor vehicle health, do remote diagnosis, predict failures, monitor utilization, improve fuel usage, leverage new business models, and much more.
The Internet of Things (IoT) has emerged as a revolutionary technology, and businesses in a wide range of industries are eagerly adopting it. Gartner predicts by 2020 a quarter billion connected vehicles will be on the road. Companies are capitalizing on this wealth of data to improve business productivity, reduce operating costs, prevent accidents, and automate processes.
Due to the decreasing cost of sensors, network connectivity, and technology such as IoT, artificial intelligence, Big Data, blockchain, and more, companies can now collect more data, make intelligent decisions in real time, and rapidly come up with new business models.
Today, companies can leverage the connectivity of new vehicles and the data they produce to create additional value: for the benefit of the company, the consumer, and the wider public. Here’s how your company can begin creating a connected fleet with IoT:
Gaining real-time insights from fleet can produce a variety of advantages, including:
By combining transformative technologies from blockchain to Big Data, the automotive industry can evolve from selling cars to selling experiences.
To learn what happens when technology, people, and data combine to enable “segment of one” experiences, better predict service needs, proactively engage customers prior to product modifications, and much more, download the new automotive whitepaper.
Sahu Satya Narayan is senior solution director of the SAP Leonardo Center of Excellence at SAP.