Impact of Big Data in Automotive Industry

Big Data in Automotive Industry

In the initial days, the concept of internet and connected things was only limited to biometric wearable, audio-visual equipment and home appliances. But with the growing dependency of enterprises on big data services, the business world is experiencing a dawn with technology-infused functionality. Big data solutions have made significant impacts in various sectors including banking, e-commerce, crisis management, and lately in the automobile sector as well.

Big data analytics have helped automobile manufacturers to boost their efficiency in terms of sales and marketing. It has also improved their working by aiding in the incorporation of utilities like predictive maintenance and service scheduling. 

Let us now look at some of the major impacts of big data in the automotive industry: 

The Connected Car

Modern cars are embraced with smart technologies like Wi-Fi connectivity, sensors, on-board computing tools, and advanced processors. Internet connectivity provides drivers with autonomous driving experience and information about safety alerts, fuel efficiency and vehicle health record. It is estimated that in the coming years, about 90% of the new cars will have connectivity setups that will increase the importance of big data analytics even more in automobile enterprises.

Design and Production

Data related to the real world driving experience including user preferences, repair analysis and customer segments help manufactures to improve basic parameters like safety, fuel economy, engine efficiency, and battery power in automobiles. With cohesion of predictive analysis, big data and manufacturing simulations, enterprises can initiate improvement cycles to enhance the overall efficiency of their operations. This has increased the importance of big data solutions as they turn the designing and manufacturing processes more informed, aiding in the delivery of better transportation system.

Supply Chain Improvements

Automobile manufactures can compare cost, reliability and quality of concerned product components and machinery using big data. It also analyzes data for predicting the demand and helps in streamlining the procurement process, making it more cost-efficient.

Automobile Financing

With big data, enterprises can study data related to customer’s financial history and preferences. By allying this information with respective demographics and geography, they can provide better financial schemes in accordance with consumer requirements.    

According to reports, connected car services will account for approximately 40 billion dollars per annum by year 2020. With big data solutions, services like navigation, traffic management, fleet management, and autonomous driving can be majorly improved, resulting in the transformation of automotive industry.

However, it is extremely important to opt for big data services from only the leading big data service providers in India having globally recognized certified consultants with rich expertise in helping the automotive industry to digitally transform through effective data analytics.

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