In today’s technology-driven economy, data provides many benefits to equipment manufacturers and rental stores, as well as their customers — there is real value in mining it, using it and sharing it.
But, there is also a fear in the market of abusing it. With news media often reporting about data stealing, cyber fraud and security breaches, many users are reluctant to share data, even with reputable and trusted sources.
With regards to data collected from our telematics programs, including the Genie Lift Connect™ solution, if a telematics system is included in the sale of our equipment, the telematics system is administered by a third party — Genie has partnered with well-known, well-respected telematics provider ZTR — and collects a range of operational data about the equipment including, but not limited to, usage, performance and reliability. Terex obtains this data for product improvement and customer-support purposes. Terex may also collect, manage and report data (personal and non-personal) about the equipment including, but not limited to, fuel consumption, up/down times, operation, defects, parts replacement, movement and location.
It is important for our customers to understand that Terex will use this data only in ways that are compatible with the purposes for which it was collected, or subsequently authorized, by our customers. Terex takes reasonable steps to ensure that data is relevant to its intended use, accurate, complete and current. And, Terex uses this data solely to provide its customers with an extensive range of services, including to provide ongoing aftermarket service and support. The legal basis for collecting, storing and processing our customers’ data is due to our legitimate interest in ensuring satisfaction with our products and services.
Telematics data provides benefits for all. It can no longer be about getting the data from the equipment and keeping it isolated because of fear. The global economy is moving in the direction of openness, and in our opinion, there is real value in ability to collect, act on and share data.