With data flowing into the car in the form of content from apps and telematics systems, data is predicted to transform the automobile industry. The topic sparked a lot of buzz at the LA Auto Show. Among the highlights was an all-star panel discussion hosted by Roger Lanctot, associate director, Strategy Analytics titled "Is big data the next big thing in the car?" KPMG then followed with an executive forum on "the connected vehicle and data analytics." Kevin Link, senior vice president, Verizon Telematics spoke at both events. Here's a mashup of where Link thinks big data in the car is headed.
Three Pillars of Innovation: "There are three pillars in automotive right now that will drive innovation – safety, green and connected. In my view, the connected car has the highest opportunity for pushing innovation in the industry even further. The connected car means enjoyment, safety and security and essentially creating an extension to your life," said Link.
The Cost Benefit of Big Data in the Car: "When you think about telematics whether it's fleet management, after market or OEM solutions, each comes with its own data opportunities which includes engine data (diagnostics and emissions), cabin data (driver behavior) or trip data (navigation)," Link added.
"Each of these factors will create an impact including an education component. For example, if you're a fleet manager you're aware that it's more dangerous for drivers to make left turns than right turns. In effect, as a fleet manager, you will change your route maps so that your drivers are taking more right hand turns than left hand turns on their routes. It's this type of information that will continue to create a significant return on investment for fleet managers."
Big Data is not about the App: "Industry estimates that predict that there will be millions of apps in the car by 2018 are over stated," said Link. "While there continues to be a major push by OEMs and their partners to put more apps on the dashboard, in my view the future of the connected car is not about more apps. Instead, it will be about creating an experience for the driver where the information they need is integrated seamlessly into the vehicle and not distracted by apps. The driver will not have to push an app button to know where the traffic is or what's at the next exit. This information will automatically be a part of their journey in the car."
Remote Updating the Vehicle is not Scary: "Historically, OEMS have struggled with concept of remotely updating vehicle software. Moving forward we will see much wider adoption of remote updates by the automotive industry as we have already seen in the consumer electronics space for the smart phone and tablet. Remote software updates will be an automatic feature that will help to enhance drivers' relationships with their dealer," Link continued.
The Rise of the Chief Information Officer: "We have always had data in the car, but as OEMs better understand how to analyze the data, measure it and tie it back to their respective strategy, the skill sets needed at the information technology level for the OEM will shift from that of electrical engineer to one of information officer," Link noted.
To learn more about Verizon Telematics, click here.