Orbcomm says data analytics product can boost transportation efficiency
Cloud-based analytics platform to provide descriptive, predictive, and prescriptive results, firm says.
Asset tracking and Internet of things (IoT) provider Orbcomm Inc. said today it has addeddata analytics capabilities to its industrial IoT solutions products, a move that could allow customers to improve their operational efficiency by identifying real-time trends in their asset-based data, the company said.
Rochelle Park, N.J.-based Orbcomm released the cloud-based analytics service to leverage its telematics and IoT products portfolio, with a focus on the transportation and logistics, supply chain, and heavy equipment markets.While Orbcomm's telematics solutions already provide real-time operational and transaction data for customers in these industries, the analytics service will provide more in-depth results, including descriptive, predictive, and prescriptive analysis, the company said.
According to Orbcomm, those analytics capabilities could produce results in a range of logistics applications, such as: refrigerated transport operational performance, operational cycle and dwell time management, condition delivery management, fleet driver performance, predictive machine breakdown and shutdown, preventative maintenance planning, and business optimization.
By turning to analytics to seek solutions for more efficient operations, Orbcomm joins other logistics technology providers such as JDA Software Group Inc., TMW Systems Inc., andMercuryGate International Inc. Providers say that applying analytics to transportation data unleashes the power of computers to do a better than humans at analyzing multiple variables, refreshing records with real-time data, calculating optimal methods, and even acting on those findings.
Orbcomm is also investigating the use of another popular new technology—blockchain—through its membership in the logistics technology trade group Blockchain in Transport Alliance (BiTA). That initiative could improve operations in the transportation supply chain by enabling more secure data sharing and leading to better end-to-end visibility, streamlined manual paper operations, enhanced communications, and optimized efficiency, the firm said.
Resources Mentioned In This Article
- Texas food supplier streamlines deliveries with truck-routing software
- UPS' venture capital arm invests in blockchain startup
- Infor lands $1.5 billion investment, prepares to go public by 2020
- Bringg receives $25 million in financing to support growth
- Competition provides glimpse into the future of logistics tech
Join the Discussion
After you comment, click Post. If you're not already logged in, you will be asked to log in or register.
Feedback: What did you think of this article? We'd like to hear from you. DC VELOCITY is committed to accuracy and clarity in the delivery of important and useful logistics and supply chain news and information. If you find anything in DC VELOCITY you feel is inaccurate or warrants further explanation, please ?Subject=Feedback - : Orbcomm says data analytics product can boost transportation efficiency">contact Chief Editor David Maloney. All comments are eligible for publication in the letters section of DC VELOCITY magazine. Please include you name and the name of the company or organization your work for.