Solving the real world problems with Data Science
The trucking industry in India is estimated to worth $130 billion. There are over 5.6 million trucks on Indian roads, that carry up to 80% of the country’s freight. These are phenomenal numbers indeed.
But the trucking industry in India is a very fragmented one, with a highly inefficient business model. There is little or no use of technology, and Big Data concepts such as data mining, business analytics, pattern recognition, and business intelligence, which are today such an integral part of the logistics industry in the West, are unheard of.
At Return Trucks, we are a technology company working in India’s transportation sector. We aim to lead the industry in both technology and data. We expect there to be an explosion of data in the Indian trucking industry over the next 3 to 6 years, and with Data Science Labs, we aim to be in a position to be able to leverage data to our advantage.
Why is Big Data Relevant to the Trucking Industry in India?
- India is one of the world’s fastest growing economies, with a GDP of just over $2 trillion. There has been an explosion of ecommerce and other types of businesses in India and the trucking industry has never been more important. Millions of trucks ply on Indian roads every day. There’s a serious demand for logistics and trucking to move goods through the country.
- The number of mobile phone users in India has crossed the 1 billion mark. The number of internet users is estimated to be 371 million, and growing fast. Technology is moving at a breakneck pace in the country and the data play is only getting started. Now, with smartphones, GPS and Internet-of-Things (IoT) sensors, there has been an exponential increase in the data availability.
At Return Trucks, we are leading the charge in the Indian trucking industry for a brighter future, one centred on technology and data. We believe in the power of data, and make use of it across our business and operations.
At Return Trucks, we use business intelligence, data mining, business analytics and pattern recognition based on:
- GPS Trackers & Reports
- Intelligent Load and Truck Matching (Demand & Supply)
- Demand Predictability
Our systems are geared to find the nearest city loads for a returning truck. If there is no load available, we are able to guide the trucks to take the best alternative routes so as to get one as quickly as possible.
We are convinced that Big Data has the power to transform the logistics industry, in much the same manner as fast and reliable internet and high smartphone penetrations have led to such an extraordinary growth for the ecommerce industry.
Posted Trucks Moving Pattern: