Microlise and the University of Nottingham have been awarded funding of £359,000 from the UK’s innovation agency, the Technology Strategy Board.
The objective of the “Value Enhancement for Data from Assets & Transactions” (VEDAT) project is to achieve customer and market value from the high volumes of complex data (Big Data) generated in real-time through telematics technology.
Millions of miles worth of event data is generated through Microlise telematics systems each day. This data is used at a local level by customers to understand driver behaviour, vehicle usage and customer service levels. However, taken as a whole, the data captured around driving style, risk areas and vehicle flow rates represents a whole additional dimension for Microlise to provide further innovative solutions.
The project will be led at the University of Nottingham by Professor Robert John, head of the ASAP research group at the school of computer science and will use innovative data mining and advanced data analytics techniques.
“The VEDAT project should yield some exciting applications for industry that have a lasting impact of the way that Big Data can be used”, said John.
“Through Microlise telematics technology, a huge amount of data is collected each day that has the capability to offer great insight to those in industry. Our aim is allow organisations to unlock the power of this data”.
The project is expected to last two years and run at a total cost of £500,000. The approaches planned for Data Exploration during this period will culminate in novel tools and approaches, with additional applications across other sectors that suffer "Data Silo" black-holes, such as finance, engineering, biotech/informatics, and other complex disparate data environments.
“As a solutions led company, we are delighted to be partnering with the University of Nottingham on this project which has secured the backing of the UK’s innovation agency, the Technology Strategy Board”, said Matt Hague, product strategy director at Microlise.
“The opportunities that Big Data offers transport and logistics operators are significant and we are confident that the VEDAT project will offer exciting benefits to the industry”.