We Predict
Newsletter #3
SMMT Award for Automotive Innovation
In November, we were very pleased to learn we had made the shortlist of the SMMT Award for Automotive Innovation.  The winner was announced at the annual SMMT dinner in London on 26 November and even though we didn’t scoop first prize, we were proud to have been placed alongside industry giants such as Ford and McLaren. 

This award started four years ago, as a result of the huge growth in the automotive industry the SMMT has set out to encourage and recognise the creation of new innovative products which are helping to keep the sector buoyant and exciting, ideas that could change the face of the UK automotive industry. Previous winners were electric bus manufacturer Optare and JLR’s prototype Range e, a plug-in Hybrid 4x4 with integrated V6 diesel engine.

The evening was hugely enjoyable, meeting up with our supplier friends and getting to know new people in the sector. Congratulations to Ford who won on the strength of their Ecoboost engine.

We Predict
Are your current analysis metrics giving you the answers you need?

Analysis of warranty claims data in the auto industry attempts to uncover potential problems with new vehicle launches and vehicles during their warranty period.  However, many of the metrics used and the calculations that sit behind them fail to take into account key aspects of the vehicle park.

For instance, the widely used metric Repairs per 1000 vehicles (R/1000) displayed as Time in Service charts (TIS) charts, although tied to production month, fails to use information on vehicle warranty age, the distribution of vehicles by country or region. In addition climate zone information which can give insight into failure mode is only given a cursory glance or ignored altogether as it is too hard to do.

Just because a particular metric is easy to calculate does not mean it will give you the correct answer!



New report reveals huge skills shortage for big data specialists

“The biggest question facing companies are the lack of big data specialists. A report released by e-skills UK, the employer body for the digital industries and SAS predicts that demand for big data specialists is set to rise to 69,000 jobs over the next five years in the UK alone. The report said that the huge shortage of big data specialist is due to third of UK large businesses (6,400) plan to implement big data analytics program in next five years” [source CloudTimes.org]

This highlights the need for specialist data scientists and analysts which can plug the skills gap. In fact we are increasingly finding that we are becoming an extension of our customer’s Quality department. It’s a privilege to act as the go-to people to help solve data problems and it helps to foster rewarding, long term relationships with our customers.

Results of our Suppliers Survey

In July we issued our survey, in order to discover more about the state of play of warranty data across a range of Tier 1 suppliers who supply all the major OEMs. We are pleased to report our findings:-

1.     70% of data received from OEMs comes direct from their in-house system with the remaining 30 % of data being emailed to suppliers..

2.     75% of suppliers find this process straight-forward.

3.    The number of people involved in warranty analysis ranges from less than 3 in 1/3 of companies;  3-6 in another 33% rising to greater than 10 in the remaining 33%.

Unnecessary costs of warranty claims

During the first nine months of 2013, U.S.based automotive companies paid out $7.57 billion in warranty claims, slightly more than they did in the same period of 2012. The OEMs paid out $6.5 billion, about 2% more than in 2012. But the suppliers paid out only $1.07 billion, about 5% less than they did in 2012." [source Automotive Warranty Report, Warranty Week]

 

Click here to read more...

If you would like to contact us for any further information please email or call us on: 08451 305 521 | info@wepredict.co.uk