The use of analytics is becoming more common in facilities management. According to Facility Executive, up to 60 percent of facilities management professionals predict the Internet of Things (IoT) and analytics will affect their organizations within the next year, and as a result, 65 percent of facility managers have invested in advance building technologies. Unfortunately, the use of predictive analytics for low-tech facilities may still be slow to adapt, resulting from misconceptions about analytics and how the everyday Facilities Manager can take advantage of them.
Predictive Analytics Evoke Fears and Stress in Facilities Managers
Part of the problem with using predictive analytics for low-tech facilities lies in myth. If the management of analytics is so complex, how can a facility manager make sense of the data? It is a simple problem. Facilities Managers are focused on facilities, not data science, but modern technology is changing the role of the facility manager to take on characteristics like a data technician or scientist. Facilities Managers can leverage information to make informed decisions, which as explained by Buildings.com, are driving more Facilities Managers to invest in software-as-a-service (SaaS) analytics platforms. SaaS systems empower Facilities Managers, service providers and field technicians, asserts Jon Rabinowitz of Facility Executive, through the use of easy-to-understand reporting tools, as well as managed services.
Predictive Analytics for Low-Tech Facilities "Clean Up" a Growing Mess
Modern facilities management and predictive analytics capabilities utilize next-generation dashboarding tools and drill-down capabilities that make data accessible and easy-to-understand. While Facilities Managers have the option of figuring out what the "numbers mean" in their connected, smart systems, additional benefits, like managed services or access to a large vendor database, can eliminate their administration fears.
Benefits of Using Newer Analytics and Innovative Services
Today’s level of analytics can be broken down into four categories, including descriptive, diagnostic, predictive and prescriptive analytics. Each type of analytics tells a story about facility assets, building condition and what Facilities Managers need to do right now. Of course, some of the additional benefits of using these analytics include:
- Accessible to anyone with internet access. Modern analytics systems are easily accessible through the Internet, allowing Facilities Managers to review operating conditions and asset status from any location quickly. This makes managing multiple facilities easier.
- Require minimal wiring and construction for a retrofit. Fast, wireless connectivity within modern sensors that feed into analytics systems reduce disruption to operations, allowing Facilities Managers to tap into the value of analytics without resulting in downtime for the facility.
- Use dashboarding tools to make data easy to understand and leverage. Analytics transform raw data into actionable insights, and these insights are presented in the form of key performance indicators (KPIs) and metrics. Knowing the acceptable range of a given metrical KPI allows Facilities Managers to make changes to existing operations to reduce spend.
- Provide both benchmarking of current systems and recommendations for savings. Through similar reporting tools, Facilities Managers can also benchmark current systems against competitors and use computer-generated insights to adjust system settings. A higher application of the technology may allow for the automation of system controls, such as lighting systems and the HVAC system.
- Applicable to all assets and activities. Analytics can be applied to virtually any asset that functions, and through additional connected technologies, like motion sensors, facility managers can also track work performance and facilities management activities, including grounds upkeep.
Leverage Technology for Actionable Insights and Stress-Free Analytics
You don’t have to be a computer programmer or data scientist to take full advantage of predictive analytics. The deep capabilities of the Cushman & Wakefield Facilities Management team will aid you in navigating the complexities of modern facilities management.