Today’s Pickup: Companies are missing out on IoT benefits because of a lack of data sharing

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Good day,

A new global study has found that transportation companies are embracing the Internet of Things (IoT), but many still lack a full understanding of how best to utilize the data.

The Future of IoT in Enterprise – 2017 found that 54% of respondents will use IoT to monitor environmental changes, 48% to speed time to market, 44% to better manage assets and 28% to monitor and improve health and safety. But, 40% believe they need additional analytic and data science skills to deliver on the promise of IoT and 55% of the time the data generated is not being shared within the organization, hampering its usefulness across the operation.

“The transport sector stands to be one of the primary beneficiaries from the windfall of data coming its way from IoT,” said Mike Holdsworth, director of transport at Inmarsat Enterprise, which produced the study. “Digital exhaust, the data generated by people’s online actions, can be an important source of intelligence for transport companies, and as rollout of WiFi on planes, trains and other public places continues, evermore data sets will become available. Furthermore, data generated by sensors placed on cargo, vehicles, employees and places, has the potential to fuel a revolution in the sector.”

Holdsworth said limiting who sees the data by restricting it to specific departments is preventing organizations from benefitting fully.

“IoT is the driving force behind digital transformation in the sector and the technology will play an increasingly important role in helping transportation and logistics companies achieve a competitive advantage,” he said.

Did you know?

In honor of National Truck Driver Appreciation Week, here are a few facts about truck drivers. There are 3.5 million truck drivers in the U.S. They traveled more than 279 billion miles in 2014 hauling more than 80% of the nation’s commodities. The average heavy- and tractor-trailer driver is paid about $43,000 according to the Bureau of Labor Statistics.

Quotable:

“It’s easy to get caught up in the daily grind, so we are looking forward to slowing down to say thank you. Professional truck drivers keep this country moving forward.”

- Carole Firth, marketing director for Fyda Freightliner, to Transport Topics

In other news:

Swift shareholders formally approval merger with Knight

Shareholders of Swift Transportation has formally approved the merger with Knight Transportation. Each Swift share will convert into 0.72 shares of Knight-Swift and each share of Knight will be exchanged for one Knight-Swift share. (Seeking Alpha)

GE sells stake in Penske

General Electric has sold its 15.5% stake in Penske Truck Leasing to Penske Automotive Group and Mitsui & Co. (Wall Street Journal)

Navistar posts profit

For just the second time in five years, Navistar International posted a quarterly profit. The company reported net income of $37 million for the third quarter. (CCJ)

Medium-duty truck values falling

An increased supply of vehicles is driving down the wholesale value of medium-duty truck models, particularly box trucks. (Heavy Duty Trucking)

Celebrating drivers

Truck Driver Appreciation Week kicks off on Sunday and truck stops and dealerships are offering special discounts and free gifts to honor the nation’s drivers. (Transport Topics)

Final Thoughts

Officially, Truck Driver Appreciation Week runs from September 10-16. And while it’s a good time to celebrate drivers and all that they do to keep the economy moving in this country, honoring them should not be a one-week event. If you are in a truck stop next week and see a driver, consider picking up the tab for his coffee or drink of choice. It’s a small gesture, but one that will be appreciated.

Hammer down everyone!