Category Archives: Blog with BEBdata

Descriptive Analytics

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Descriptive analyticsDescriptive analytics is a preliminary stage of data processing that creates a summary of historical data to yield useful information and prepare the data for further analysis. Descriptive analytics is sometimes said to provide information about the past or what happened.

The vast majority of the statistics used today fall into this category. (Like sums, averages, or percentages).  For all practical purposes, there are an infinite number of these statistics. Descriptive statistics are useful to show things like, total stock in inventory, average dollars spent per customer and Year over year change in sales. Common examples of descriptive analytics are reports that provide historical insights regarding the company’s production, financials, operations, sales, finance, inventory and customers.

Predictive Analytics Defined

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BEBDATA BLOG PREDICTIVE ANALYTICSPredictive analytics encompasses a variety of statistical techniques from data mining, predictive modelling, and machine learning, that analyze current and historical facts to make predictions about future or otherwise unknown events.

Predictive models identify patterns found in historical or transactional data to identify risks and opportunities. Models capture relationships among multiple factors to allow assessment of risk or potential associated with a particular set of conditions. The defining functional effect is a predictive or probability score for each.

One of the best-known applications is credit scoring, which is used throughout financial services. Scoring models process a customer’s credit history, loan application, customer data, etc., in order to rank-order individuals by their likelihood of making future credit payments on time.

Prescriptive Analytics – What Is It?

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Prescriptive analytics goes beyond predicting future outcomes by also suggesting actions to benefit from the predictions and showing the implications of each decision option.

Prescriptive analytics not only anticipates what will happen and when it will happen, but also why it will happen. Further, prescriptive analytics suggests decision options on how to take advantage of a future opportunity or mitigate a future risk and shows the implication of each decision option. Prescriptive analytics can continually take in new data to re-predict and re-prescribe, thus automatically improving prediction accuracy and prescribing better decision options. Prescriptive analytics ingests hybrid data, a combination of structured (numbers, categories) and unstructured data (videos, images, sounds, texts), and business rules to predict what lies ahead and to prescribe how to take advantage of this predicted future without compromising other priorities.

2020 Auto Trends – Download upgrades to your car

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Automakers must invest in upgrades to the digital platforms within new cars. Earlier this year, BMW introduced a wireless service for some of its models. Just like regular software updates, the new service keeps the operating system up-to-date with the latest version.

This new service includes an intelligent personal assistant that can be expanded automatically and OTA (Over The Air).

Some other manufacturers also offer wireless OTA software updates that include Tesla, Audi, Volvo, and Ford. Most have updates that are focused on non-critical infotainment features or offed new applications and functions for the infotainment system.

 

2020 Auto Trends – Automation

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Self-Driving Systems are categorized by five-levels:

Level 1- Driver Assistance: Under specific conditions, the car controls either the steering or the vehicle speed, but not both simultaneously. The driver performs all other aspects of driving and has full responsibility for monitoring the road and taking over if the assistance system fails to act appropriately. Cruise control is Level 1

Level 2- Partial Automation: The car can steer, accelerate, and brake only in certain circumstances. Maneuvers such as responding to traffic signals or changing lanes largely fall to the driver, as well as scanning for hazards.

Level 3- Conditional Automation: The car is able to manage most aspects of driving, including monitoring the environment. The system prompts the driver to intervene when it encounters a scenario it can’t navigate. The driver must be available to take over at any time.

Level 4-High Automation: The vehicle can operate without human input or oversight but only under select conditions defined by factors such as road type or geographic area. In a shared car restricted to a defined area, there may not be any. But in a privately owned Level 4 car, the driver might manage all driving duties on surface streets then become a passenger as the car enters a highway.

Level 5- Full Automation: The vehicle can operate on any road and in any conditions a human driver could negotiate.

2020 Auto Trends – Increased Presence of Electric Cars

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Manufacturers continue to plow forward to meet the 2025 CAFE (Corporate Average Fuel Economy) standards.  Ramping up electric car sales is on the forefront. Be prepared to see lots more Electric Vehicles starting in 2020, for example:

 

Carbon Fiber Car Construction

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The trend in construction of new vehicles using lighter weight substrates continues. According to an article by MPower, much of the focus is placed on aluminum but many automakers are turning to carbon fiber not only for exterior components but also complete inner body structures. Some of Volvo’s hybrids inner structure are primarily carbon fiber. This reduces weight and enhances rigidity. Carbon fiber is also in the  Silverado/Sierra trucks where GM is using carbon fiber in the construction of new bed assemblies.  Industry analysts predict a compound annual growth rate of the automotive carbon fiber market between 7.9 percent and 10.6 percent for the coming five years.

2025 CAFE Standards

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  • By 2025, passenger cars and light-duty trucks in the U.S. must meet Corporate Average Fuel Economy (CAFE) fleet standards of 54.5 miles per gallon (MPG).
  • Between 2017 and 2025, vehicle manufacturers are required to achieve annual efficiency gains of 5% and 3.5% respectively.
  • In a report from the Environmental Protection Agency (EPA), technological innovation remains the primary driver behind vehicle improvements in fuel economy.