Big Data in the Automotive Industry
Insights gained from Big Data are influencing all aspects of the automotive industry, from the drawing board to the aftermarket.
Key trends in technology are helping auto manufacturers continue the push to improve operational efficiency in designing, building and servicing vehicles.
Areas in the automotive industry impacted by Big Data include:
Conceptual Design. From data gathered throughout the life cycle of the vehicle, auto manufacturers will use Big Data to shape future vehicle designs. Every part of the vehicle can be tweaked and tuned. Real-world data collected from billions of miles driven will undoubtedly influence safety, aerodynamics, performance, power algorithms and other fundamental elements of the vehicle.
Drawing Board. Consumer sentiment and information gathered from actual driver usage will affect the features included in new car designs. Efficiencies gained in design, production volumes and manufacturing through Big Data in the auto industry will make it economically feasible to make today’s options tomorrow’s standard equipment. Analysis of service and in-field performance will influence which components are chosen, and will pinpoint when selected parts should be redesigned for specific tasks.
Procurement. Supply chain management optimized by Big Data will help manufacturers continue to wring new efficiencies from the procurement process.
Manufacturing. On the assembly line, data gathered throughout the building process will be used in predictive analytics to improve manufacturing simulations and keep tabs on machine performance, making the next assembly line even more efficient and flexible.
Marketing. Big Data is already having a major influence on vehicle marketing. Social sentiment will play a growing role in manufacturers’ plans to design new vehicles. Customer feedback on current models also helps marketing experts identify key themes and messages for new campaigns.
Finance. Understanding consumer habits, preferences and buying power across market segments gives manufacturers insights needed to develop more-effective financing programs. But that’s just the first step. New insights from Big Data analyses of sales and in-field use data will help captive financing companies develop new services and new revenue streams.
Performance. Real-world vehicle performance will both influence and benefit from Big Data. Information gathered from the field — from vehicle systems, driver inputs and external conditions — will exert a major influence over the design of components and the characteristics of future vehicles.
Service. Like performance, service will benefit as both a contributor and a user of Big Data in the automotive industry. Information gathered through millions of service events will provide invaluable feedback to designers. On the other end, predictive analysis will help identify problems before parts and systems malfunction, simplifying the service process and saving drivers from a nerve-wracking roadside breakdown.
Aftermarket. With manufacturers acting as a conduit, aftermarket services to drivers, based on insights gained from a combination of Big Data and location-based capabilities, are expected to explode. Travel services, insurance, petroleum, maintenance and entertainment are just a few of the industries that will benefit by developing partnerships to leverage data and reach willing drivers with special offers and features.