Technology has revolutionized many industries across the world, and the auto industry is no exception. With the power of predictive maintenance, drivers are able to protect their vehicles for longer and avoid accidents.

Muchos extended warranty contract offers are also derived from the power of predictive maintenance to target the issues with vehicles most likely to occur. Learn everything you need to know about predictive maintenance and its benefits.

Understanding Predictive Maintenance

Predictive maintenance is a relatively new concept in the auto industry, but it has been around in other industries for many decades. Its importance is seen most in reducing ongoing maintenance costs via condition monitoring on a continuous basis.

What is Predictive Maintenance?

Many people mistake predictive maintenance for preventative maintenance despite the fact that they are not the same thing. Preventative maintenance involves blindly performing repair or maintenance tasks on the parts of a car that are most likely to fail, estimated via guesswork from past customer reviews.

Predictive maintenance, on the other hand, leverages sensor data within a vehicle that collects real-time data on the performance of parts under the hood. This data, combined with information on past service records, is combined with artificial intelligence and machine learning to improve vehicle performance and reduce downtime.

The Technology Behind Predictive Maintenance

Through the use of sensors, telematics, and onboard diagnostics, modern vehicles can collect and analyze data from your vehicle in the current moment. Additional tools such as sound-based detection to alert your vehicle to any parts making incorrect noises, cloud-based solutions that act as a vehicle health management platform, and collaborative data sharing help to reduce unplanned downtime for your vehicle.

This increase in technology is part of what has driven higher repair costs for vehicles, though, as when these sensors become damaged in an accident they are costly to replace.

Benefits of Predictive Maintenance for Vehicle Owners

To understand the full scope of benefits that predictive maintenance in modern vehicles can offer, think of the tools as a check engine light that flips on before the issue actually occurs. This technology helps to predict the failure of parts so that you can get them replaced prior to a breakdown, thus leading to fewer unexpected breakdowns, lower repair costs, fewer equipment failure modes, and an overall extended vehicle lifespan.

This proactive approach to maintenance on your vehicle takes preventative maintenance to the next level by leveraging AI-powered algorithms. It will also keep you safer on the road by stopping potentially disastrous breakdowns before they occur.

How Data Analytics Drive Predictive Maintenance

Data is the foundation of the Internet, and the revolutionary artificial intelligence trend seen in the automotive industry utilizes it to a remarkable degree. In fact, data powers the very predictive nature of artificial intelligence, and without it, the field would never have developed.

The Role of Big Data in Predictive Maintenance

Predictive maintenance systems are developed by collecting vast amounts of data driven from vehicles’ onboard computers and sensors. This data is then compiled and analyzed by artificial intelligence to notice patterns or trends in a process called “training.”’ Once the artificial intelligence is trained enough, it can begin to predict any issues that may occur based on the historical data it has seen, whether that be for a vehicle or the auto industry as a whole.

Machine Learning and Predictive Algorithms

The predictive nature of artificial intelligence described above is referencing a niche side of the field that fewer people are aware of: machine learning. In the broader Internet of Things (IoT), machine learning refers to the subset of artificial intelligence that specifically focuses on using data science and algorithms to imitate learning, such that an AI can increase its efficacy.

Machine learning algorithms in the auto industry work by feeding input data so that a pattern can be discovered. These patterns are compared against ‘error functions’ which are used to assess the accuracy of a model. Finally, the process is completed over and over until the algorithm is capable of making predictions or forecasts to a certain threshold of accuracy.

For example, using data a machine learning algorithm in the auto industry may be able to determine that if you haven’t been following outlined maintenance schedules for your vehicle, coupled with reduced performance from the engine, that something within may be having issues.

Real-World Applications of Predictive Maintenance Solutions

Predictive maintenance doesn’t stop at a single vehicle. These algorithms can create a connected web for entire auto brands, sharing datasets from different vehicles. This can result in data collection for entire fleets of vehicles, thus improving fleet management by creating a maintenance program specifically optimized for certain types of cars.

Additionally, data connected between vehicles could be used to determine potential failures in various road situations or even during crashes in order to optimize vehicle construction for safety.

The Impact on Extended Warranties

Predictive maintenance is also revolutionizing the extended warranty industry. When creating the various extended warranties, also called vehicle service contracts or auto protection plans, many providers were forced to conduct cold, hard research on vehicle types to determine what was most likely to break down. This allows the extended warranty providers to structure their plans effectively. With predictive maintenance, however, accuracy can be increased tenfold.

Enhancing Warranty Services with Predictive Maintenance

First and foremost, extended warranty plans offered industry-wide will be able to be far more effective due to the accuracy of predictive modeling. With preventative maintenance research, you may have an extended warranty contract that offers coverage for a bunch of parts that are extremely unlikely to break down on your vehicle. With predictive maintenance, though, you can customize a warranty plan to tackle only the parts that are most likely to break down based on the maintenance models the algorithm creates.

Reducing Claims Through Early Detection

The second benefit in the extended warranty industry that predictive maintenance can offer is a reduction in claims. When issues are caught earlier, they can be addressed by a mechanic prior to machine failure. This means you may not even need to have any downtime with your vehicle being in a shop.

Improving Customer Satisfaction

Finally, the third and perhaps most important benefit of predictive maintenance for extended warranty companies is the improved customer satisfaction that results from it. With minimized unexpected breakdowns and fewer repair delays, customers can enjoy the perks and accurate service of their warranty or VSC coverage plan.

The Future of Vehicle Maintenance and Warranty Services

Predictive maintenance is changing the way the auto industry functions from a safety standpoint. By accurately predicting which parts will break down and when, drivers can get their vehicles repaired prior to a disastrous accident. In addition, extended warranty companies can fine-tune their offerings so that only those most important parts are protected, thus giving you the most value for your money.

Until predictive maintenance technology reaches its pinnacle, though, you will want to have an extended warranty plan that offers the most benefits possible. At Endurance Warranty, we feature numerous auto protection plans from which to choose. Whether you’re seeking simple high-level stated protection for an older vehicle with our Secure Plus plan,  something more comprehensive, such as our Supreme plan, or a package you want to customize yourself, we can help.

In addition, each Endurance contract comes with Asistencia en carretera 24 horas al día, 7 días a la semana, rental car reimbursement, and trip interruption coverage. For a small activation fee, our Beneficios de Endurance Élite package offers bonus perks such as up to $1,000 in total loss protection, reimbursements for up to four tires per year due to road hazards, and more.*

To learn more about how Endurance can help, contact one of our service plan advisors at (800) 253-8203 o Solicite una cotización GRATIS. Tú también puedes shop on our eStore to see which plans may suit your specific needs.