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Description
The R&D project consists in offering a data management platform utilising machine-learning analytics algorithms that will enable the retrieval and processing of data from connected vehicles'' sensors, as well as make the radical move towards edge-based computations. The O7Connected Project will allow the promoter to offer its clients and partners driving behaviour analyses of the highest accuracy, as well as develop the necessary algorithmic infrastructure for performing driving behaviour analysis on the edge, as opposed to current cloud-based computation, reducing cloud costs and computational time. In the coming years, more and more connected cars will be sold. And as Usage Based Insurance programmes are becoming more popular, the need to exploit the data stemming from connected vehicles is becoming mainstream, making the analytics platform of the "O7Connected" project necessary.
The project will increase OSeven''s competitiveness, as it will introduce to the global market the most advanced and complete telematics solution for connected vehicles. Up to 8 new job positions are expected to be created as a direct result of the project implementation.
Summary of project results
Connected vehicles can connect to the internet via a 5G SIM-card embedded in the vehicle and record valuable data coming from the engine, the sensors, or the operating system of the vehicle. As more and more connected vehicles will be sold in the coming years, the range of capabilities and benefits (wealth of information/data in real-time and with high accuracy - especially regarding safety and efficiency) this new connected vehicle technology will offer, will increase. Among others, it will be able to provide real-time warnings and feedback for adjusting driving behaviour.
Thus, processing, analysing and storing this data stemming from connected vehicles is becoming mainstream. To do so, a data management platform equipped with state-of-the-art Big Data infrastructure capabilities and algorithms able to handle the huge amounts of data collected, is necessary, making the analytics platform of this project necessary.
Therefore, OSeven, being positioned as a global telematics provider with strong expertise in driving behaviour analysis, aims to expand its current insurance telematics solution for the new era of connected vehicles.
Through the project, a Big Data infrastructure was developed, able to retrieve, analyse and process data from connected vehicles, as well as the necessary machine learning algorithmic background needed for transferring cloud-based computations to the edge.
Four main activities were implemented. Firstly, the requirements of the needs of the stakeholders and the industry were identified. Then the O7Connected platform was created through the development of data homogenisation algorithms and Big Data infrastructure, to be able to handle and accommodate the enormous amount of data - as well as different data types from different OEMs - retrieved from connected vehicles. Novel algorithms were developed to perform calculations with the types of data retrieved. In addition, machine learning algorithms and scoring models for receiving and providing data to edge devices (inside the vehicle) were developed. Finally, the new O7Connected platform and its accompanying edge-based algorithms and features were pilot tested.
With the O7Conntected project, OSeven introduced to the global market an advanced telematics solution for connected vehicles, offering the highest accuracy. The solution provides more accurate and advanced driving data insights and contributes to road safety by improving driving behaviour. Not only does this have important socio-economic benefits, but the new platform will also directly benefit insurance companies, as they will be able to offer their clients fairer and more personalised insurance products with cost savings to their customers. Leasing and fleet management companies will also benefit from the project as, not only will they provide highly accurate driving behaviour analysis and better insurance policy options, but they will also offer new features such as mileage tracking and vehicle health monitoring resulting in greater re-sale values. Finally, and most importantly, this solution will offer drivers lower costs and financial rewards, as well as increased level of safety and fuel savings.
The O7Connected Platform will permit OSeven to expand its business in more customer segments (besides insurance companies, to leasing/rental, fleet management, and ride-sharing companies). This will create additional revenue streams for the promoter and increased profitability.