Fleet rebalancing and the secret ingredient for shared mobility profitability
Updated: Aug 11, 2020
Rebalancing made simple with Ubiq
VIENNA, Austria: One of the most striking things about shared mobility, is how few providers are actually profitable. With hardware costs ranging from €500 for scooters to €30,000+ for cars, getting enough trips out of each vehicle can make or break a service.
This is why the utilization rate of shared vehicles is so important when it comes to mobility services. The more time a vehicle is in use, the more money it can make. But achieving this is easier said than done. At Ubiq, our AI-driven Fleet Rebalancing service addresses this by providing rebalancing suggestions for each vehicle.
Now, operators can receive recommendations straight away, allowing them to optimize their fleet from day one. This means more vehicle availability, more rides, and importantly, more revenue.
Introducing Ubiq’s Fleet Rebalancing API
It is important that fleets remain in a constant demand and supply matching equilibrium; not too far from customer demand but not cluttered in the same place either. Ubiq’s new Fleet Rebalancing API makes this simple.
Based on historic and live mobility behaviour, Ubiq's rebalancing engine identifies vehicles that are predicted to underperform based on time and location.
The engine then recommends nearby high demand areas (hot zones), with dynamic saturation points ensuring zones do not become oversaturated.
As this is done in real-time, vehicles can be moved to actively meet demand rather than reactively respond to it.
The rebalancing engine continuously learns and adapts based on user behaviour, honing down the repositioning accuracy.
We have seen that such rebalancing can reliably increase the number of trips a vehicle will make in a day. And by introducing an API-only product, we now offer fleet rebalancing to a wider range of operators.
While our full full StreetCrowd service enables complete crowdsourced fleet repositioning, the API-only version is a slightly more stripped back offering with just rebalancing recommendations instead complete rebalancing execution. This allows smaller operators, for example, or operators with existing operational processes to integrate fleet rebalancing into their fleet management system.
Without the extensive roll-out effort, this plug and play service allows operators to start using and experimenting with fleet rebalancing straight away. Moving to the full StreetCrowd ecosystem is always possible afterwards.
How it works
While the AI-rebalancing engine itself is anything but simple, the Fleet Rebalancing API is easy to set-up. Ubiq simply scans the operator’s available vehicles and returns a rebalancing recommendation. There are just two interaction points between the operator’s system and Ubiq’s: first, data input for available vehicles (Operator to Ubiq) and second, data output for rebalancing recommendations (Ubiq to Operator).
The operator has the option to either push the information to Ubiq, or allow Ubiq to scan for available vehicles. Getting up and running is therefore simple. The engine then continues to perfect itself over time.
Becoming a master in fleet efficiency is easier than ever
By enabling shared mobility operators to master fleet efficiency, the Fleet Rebalancing API provides actionable insights that increase vehicle utilization potential.
In taking a data-driven approach to fleet efficiency, the search for profitability becomes less elusive than before. Operators don’t need to hire an expensive tech team to get there, Ubiq’s Fleet Rebalancing API can be deployed right away.