Real-Time Data Analytics: Powering the Future of FASTags in India

The BFSI is undergoing a seismic shift, driven by the transformative power of real-time data analytics. The sector is investing heavily on a global scale in enterprise intelligence solutions that enable data-driven decision-making while allowing organizations to capitalize on cost-saving opportunities. This growth is reflected in the increasing number of companies that are putting their money into big data analytics (BDA) to gain real-time insights from customer data and enhance risk management.

One technology that is being integrated in BDA, is real-time databases that provide a comprehensive data strategy that leverages the strengths of both real-time responsiveness and deep, historical insight. 80% of companies surveyed report revenue uplift due to real-time data analytics, according to the 'The Speed to Business Value’ report by KX and the Centre for Economics and Business Research (CEBR). One of the key sectors gaining advantage from real-time databases is BFSI.

In India, the widespread adoption of services like FASTag exemplifies this digital transformation led by real-time data analytics in BFSI.

From Tolls to Transactions: How Data Analytics Streamlines the FASTag Process

The FASTag initiative, a system poised to revolutionize transportation and commerce through intelligent toll collection, is implemented by the National Highways Authority of India (NHAI). It leverages Radio Frequency Identification (RFID) technology to facilitate automatic toll payments to reduce congestion at toll plazas, minimize human intervention, and curb cash-based transactions, computer vision systems using AI/ML to detect and classify vehicle type to charge appropriate toll and prevent fraud. FASTags, however, can have a far greater impact than merely collecting tolls; they can transform the efficiency and capabilities of the system by strategically analyzing real-time data.

The integration of real-time data analytics into the FASTag ecosystem is a critical step towards realizing the vision of smart mobility in India. This initiative aligns with both the Smart Cities Mission and Digital India initiative, both of which aim to improve urban infrastructure and services with technology.

India witnessed a remarkable 42% surge in electronic toll collection through FASTags on highways, totalling over Rs. 54,000 Crore in 2022-23 as per National Payments Corporation of India (NPCI). As millions leverage these services daily, the need for scalable and real-time data analytics becomes even more critical. The enormous volume of transactions processed every second requires a robust, scalable infrastructure capable of handling high throughput with minimal latency.

The efficient movement of vehicles on tolled roads and transit is likely to continue evolving, because of the involvement of technology which plays a significant role.
 
The technological advancements towards the ETC System have not only accelerated traffic flow but also preserved valuable travel time, curbed revenue leakages and helped in better management and monitoring of toll plazas. Consequently, tolling operations consistently exhibit heightened accuracy and reliability, while the likelihood of errors reduces.

There has been a substantial increase in revenue from INR 3,352 Crore in FY18 to INR 54,144 Crore in FY239, reflecting the wide acceptance and adoption of tolling systems across national highways, contributing to the country's economic growth and infrastructure development.

Since February 2021, the number of toll plazas under the NETC FASTag has increased from 770 to 1,228, including 339 state toll plazas, according to NPCI data. The NETC has 38 banks live on its platform.

Harnessing Real-time Data for Enhanced Efficiency

At its core, real-time data analytics involves the continuous analysis of data as it is generated. For FASTags, this means processing vast amounts of transactional data, vehicle movement patterns, and user behavior in real time. It enables effective traffic management by providing insights into vehicle movement patterns. Predictive analytics can foresee traffic surges, enabling preemptive measures to streamline vehicle flow. This not only enhances commuter experience but also reduces emissions and fuel consumption.

As today's transactions need to be lightning-fast to avoid delays, real-time data analytics also enable instantaneous processing. The high-performance of real time database platforms ensures real-time completion, minimizing wait times and improving user experience. Furthermore, real-time analytics enables the detection of fraudulent activity. By continuously monitoring transaction patterns, anomalies can be detected instantly, flagging potentially fraudulent activities and ensuring system integrity.

Analyzing data on vehicle types, weights, and frequencies can inform infrastructure maintenance schedules and future road development projects. Predictive maintenance, driven by data, can preempt infrastructure failures and optimize resource allocation. For an enhanced user experience, real-time feedback mechanisms can be established to alert users about their toll usage, balance status, and recharge reminders. Moreover, integrating real-time traffic updates and route suggestions can further enrich the user experience, making FASTags a comprehensive travel companion

Rahul Choubey

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Rahul Choubey is Solutions Architect at Aerospike APJ.