LONDON--(BUSINESS WIRE)--Quantzig, a premier analytics solutions provider announces the completion of its recent article that offers comprehensive insights into predictive analytics that can help in transforming the transportation industry.
Talk to our analytics experts to learn more about the use cases of predictive analytics in the transportation industry.
There is an unprecedented amount of information available in the transportation industry today, which contains immense potential for deriving insights that aid in planning and managing transportation networks. This data is captured from various sources such as onboard sensors and data collection points introduced by passenger counting systems, systems scheduling, asset management systems, ticketing and fare collection systems, and vehicle location systems. Players in the transportation industry can leverage advanced analytical techniques such as predictive analytics to use the available data to improve operations, reduce costs and better serve travelers.
Predictive analytics is crucial from a business perspective and plays a pivotal role in driving outcomes, redesigning processes, and making accurate demand forecasts. Request a FREE proposal to learn more about the business benefits of predictive analytics.
According to Quantzig’s predictive analytics experts, “Predictive analytics tools provide a wider picture of transport conditions by offering bus or train schedules, and parking availability, thus, developing mobile user-friendly and smarter services.”
Role of Predictive Analytics
Any technology that can improve efficiency on a “more is less” paradigm has the capability of making things much easier for both transit agencies and the passengers they serve. Predictive analytics can fill that role to some degree. With the help of predictive analytics, transportation companies can answer the question of “What’s the best possible outcome?” instead of explaining prior history.
- Predictive analytics can help companies to determine the impact of unplanned events such as a transit labor strike on transportation utilization and the local economy.
- Transit agencies can also understand how subway line closures, planned road-works or transit maintenance projects can affect public transport. They can then use this insight to plan the optimum change in transit schedules and communication strategy to deal with the impact.
- Identify and predict the likely occurrence of routine unplanned service incidents like a traffic accident or vehicle breakdown, and suggest optimum responses.
- Predictive analytics can model the impact of various proposed urban development projects to transportation and help in the identification or alteration of the projects to achieve sustainability objectives while supporting the need for mobility.
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Transportation agencies can understand when the vehicles require maintenance well in advance with the help of predictive analytics. Such advanced analytics capabilities help to identify irregularities and forecast a range of asset performance risks before trouble arises in the case of vehicles owned by the transportation agency. With the help of predictive analytics, public transportation companies can predict significant events or days during which they would experience high demand for services. They can adjust or supplement their facilities accordingly to accommodate visitors better and avoid putting additional cars on the road that cause congestion. Book a FREE solution demo to learn how our predictive solutions have helped leading businesses to predict and determine the impact of unplanned events and drive better outcomes.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal