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Getting Granular With Facility Management Data: How Can I Affect Change That Improves My Bottom Line?

Posted by QSI Facilities on September 20 , 2017

Figuring out the best way to apply facility management data can be trying at best, and facilities managers are trying to accomplish this feat with renewed resolve. However, interest in the use of internet-enabled devices and analytics for data-driven decision making can have an unexpected impact on facility management processes; it can make it difficult to distinguish ways to reduce costs as a whole. Essentially, facilities managers may be tacking the wrong data points and not make the best decisions. However, facility managers taking these steps to control and leverage data can affect change that improves their bottom lines.

1. Make Facility Management Data Accessible and Actionable

Even the most intuitive datasets and streams lack value if they are inaccessible. Facility management data should be accessible to all appropriate parties, depending on their current level within your organization, and data must be actionable. In other words, clear indicators of what measures need to be taken to bring data into better ranges will result in benefits and increases to your organization’s profitability.

2. Use Wireless Technology to Track All System Functions and Use

Wireless technology is also more cost-effective than ever before. Wireless systems allow for the retrofitting of buildings and systems, which translates into better visibility and insights derived from data. Individual points of connection can also be leveraged by multiple systems to make facility management data more accessible and actionable too.

3. Take Advantage of Data From Third-Party Facilities Management Providers

Another way to make use of facility management data lies in outsourcing data management to third-party facilities management providers. Outsourcing may seem like an impractical decision, but third-party providers are the unrelenting experts in facility management data, and they have the resources necessary to comb through mountains of data to derive real, valuable insights into how your organization can improve its bottom line.

4. Make Data-Driven Decisions

Any decision made regarding facility management data also has the benefit of being data-driven. Data-driven decisions prove their worth by indicating why a given decision is necessary, and by leveraging historical and real-time data, facilities managers can know what impact their decisions will have on existing and future operations.

5. Track the Right Data

The right facility management data tracked and used should provide real insights and value to your business.

For example, tracking vacancy energy usage or runtime among your HVAC systems can help provide insight into energy-use trends within your business.

By tracking this data, facilities managers can know when filters may need to be replaced, and based on the average runtime of lighting systems; facilities management professionals can ensure the next scheduled maintenance visit includes replacement of malfunctioning lighting systems or corrects other problems.

The right data can also measure performance among employees, vendors, and systems within the facility. As a result, overall costs decrease, increasing profit margins.

Apply These Steps to Facility Management Data to Boost Your Profit Margins Now

Deciding to boost your profit margins should not be difficult. However, not understanding facility management data can lead to multiple missteps of facility managers. By following these steps, facilities management professionals can leverage facility management data the right way to effect real change in their organizations.

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