The power of predictive 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 bring your customer service to a higher level than the service level of the competition?

Collect data

It all starts with collecting data. Collecting lots of data. By applying telematics you can receive data from machines and devices. Think of meter readings, tire pressure, temperature, air pressure, etc. This of course depends entirely on the type of equipment that you deal. By monitoring this data, you can immediately offer added value to your customers. For example, you can inform them based on the hour meter that a maintenance job should be scheduled. Or you can advise them to check their tires because the tire pressure is too low.

Draw 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:

  • A certain spare part breaks on average after 5 years. This spare part is not expensive, but it does cause major problems when it breaks. It is therefore wise to replace this spare part proactively every few years.
  • With a tire pressure lower than a certain value, the chance of a flat tire increases by 50%. Therefore, the customer should be called immediately when the tire pressure drops below this value.
  • Customers often buy an alternative spare part from a different manufacturer instead of your spare part, even though the price of the alternative is higher. It turns out that the faster delivery time of the alternative spare part is decisive for customers.

To draw these conclusions, not only do you need big data, but also the right software plus some proper data analysis skills. With the insights this brings you, you can make decisions that immediately save costs or generate extra turnover.

"Big data and data analysis will help you to serve customers even better."

Turn predictive analytics into improved customer service

Big data and data analysis will help you to serve customers even better. By making predictions based on data and acting proactively, you are always 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 customers.
  • Respond better and faster to the requirements, wishes and questions of customers.
  • Give maintenance, service, repairs, and parts management a more valuable meaning for your customers.