Reduction in warranty costs using IoT data

LatentView Analytics developed a scalable, self-serving analytics platform that helped the client understand usage patterns for their products and test product related hypotheses.

Business challenge
Costs incurred due to warranty claims had a negative impact on the bottom line. The client was looking to minimize warranty claims by correlating vehicle usage/driving styles with expensive and severe claims using IoT data from vehicles.

Solution
LatentView Analytics developed a scalable and self-service code-free AI platform for analytics on connected vehicles that could be used to identify vehicle usage patterns by providing data from these vehicles.

Results
Significant cost savings observed in the warranty claims due to proactive drive-right messaging and preventive maintenance. Improved predictive maintenance resulting in enhanced customer satisfaction.

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