Analyzing more than 200 Million Data Points, LogiNext to give a promising future to Global Logistics Industry
Owing to its continuous innovation in the logistics industry, LogiNext is now solving the bigger dynamic complexities of the supply chain process globally. Incepted in 2014, LogiNext is now a well-known unicorn, which has achieved a mighty milestone of accumulating 200 Million data points in a span of 2 years. This data is being collated from 5 most prominent SaaS products of LogiNext, serving different industry verticals across all the legs of the logistics.
Data Travel : Then and Now…
Initially collecting data was a herculean task with just one newly built product at the place, which was focused on route optimization of long haul movements. Within next few months company could only achieve fewer data points for their advanced software to analyze, which made company manufacture telematic devices for gathering more data. Fast forward four months, the company realized that manufacturing trackers was not of much help, and extended their focus to build an IoT platform which can support 100’s of hardware and sensors. However, by this time, the company had many clients on board and started slowly building its product to serve other legs such as first mile, last mile, on- demand, reverse, workforce management apart from haul. This led to the exponential growth of data points from 2 million (2015) to 200 million (2016) and enabled LogiNext to optimize movements more effectively.
Data — Data Everywhere!!!
Powered by the most advanced “Real-time Tracking”, “Real-time Route Planning”, “Big Data Analytics” softwares, LogiNext is set to have a high-frequency cycle for collecting more location data. The company gets a data point in every 30 secs, which precisely makes it up to 2,880 data points in a day and 87,000 data points in a month from every single resource i.e shipment, vehicle, delivery boy, or even an on-field sales representative. The exact and the detailed information of coordinates of a moving entity is being gathered with the help of a range configurable and modular SaaS products of Haul, Mile, On-demand, Reverse, and Force. Moreover, different geofences are created around various cities, areas, hubs and routes to fetch the exactly needed figures to comprehend analysis at micro-level. The collected data is processed further for companies to save millions of dollars and get rid of their operational hassles.
What’s in the Data?
If you are still wondering over the essence of these huge data points, here lies in your answer.
These 200 Million data points have so far disrupted the logistics sector in India, Middle and South East Asian countries and now LogiNext looks to achieve 100x data point by next financial year to make a global impact. The more the data, it will help in better big data analytics, resulting in accurate ETAs, delay predictions, optimization of routes and optimum capacity planning of the shipments and fleets. This data will enable LogiNext analyze a variety of operational problems and develop algorithms to provide their apt solutions. This will also enable LogiNext to generate a plethora of reports for its clients to self-evaluate their performances. The clients can now have different customized reports and can analyse even a single shipment. These reports will now empower enterprise to compare their performances among the other companies in same verticals. Adding to this, it will also enable companies to analyse their growth across various industries like manufacturing, retail, transportation, couriers and banking.