QSI Facilities Blog

How Real-Time Facility Data Monitoring Saves Money

Posted by QSI Facilities on November 09 , 2018

Facilities Managers need a viable solution to reducing spend, and real-time facility data holds the answer. Let’s take a look at how real-time data can be used to reduce costs and decrease total cost of ownership in your organization.

Poor Visibility Means Run Until It Breaks

The traditional facilities management strategy involves “run until it breaks.” The strategy is based on reactive maintenance and only addressing items that are causing an active disruption to guest experiences, but it increases costs exponentially. The average cost of deferred maintenance is equal to the squared cost of the original repair. According to Brian Blum of Plant Engineering, machine breakdowns are the typical result of missed maintenance. Breakdown costs extend beyond the repair cost, affecting performance and in commercial enterprises, e.g., restaurants and retail, affecting the guest experience. Ironically, many of these issues can be identified early on by using real-time facility data.

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Modern Facility Assets Are Designed for Connectivity

For instance, energy data can be collected from connected facility assets with little need to retrofit systems. Moreover, modern systems are designed to be accessed from any location and device, especially in the age of mobile technology. Facilities Managers are turning to mobile technology at an even faster pace, and the need for mobile technology has triggered a $100,000 investment from the University of Arizona to improve energy monitoring processes, asserts Greg Zimmerman of FacilitiesNet.

Benefits of Using Real-Time Facility Data to Make Decisions

Facilities Managers can identify equipment energy consumption, receive advice on technology replacements, catch the signs of inefficient use, and recognize changes in energy-efficiency behaviors, says Martin Change of Verdigris. Companies that deploy smart systems and leverage real-time facility data in asset energy use achieve savings of approximately 5 percent. For the average company, this amounts to more than $9 million annually, reports FacilitiesNet. Additional benefits of using real-time data to make facilities management and maintenance decisions include:

  • Ability to adjust energy use cycles to reduce utility consumption costs asserts
  • Immediate optimization of the HVAC system. HVAC system optimization can dramatically reduce costs by ensuring the system is only running when absolutely necessary.
  • Autonomous control of facility assets. Autonomous control of facility assets reduces the incidence of human error overriding system settings and leading to higher costs.
  • Prioritization of operational expenses. Prioritization ensures maintenance needs are addressed before they become another part of the maintenance backlog.

Gain Real-Time Visibility and Data Into Your Assets Now

Real-time visbility through connected assets and better data analytics will reduce total cost of ownership and increase accountability in facilities management. Disruptions will become rarer, and Facilities Managers can focus on other issues that adversely affect guest experiences. Since data represents a relatively new use of facilities management technology, Facilities Managers should consider outsourcing the CMMS selection and management process to an expert, like QSI Facilities. In addition, third parties can streamline the whole process, reducing demand on the Facility Manager and lowering the company-wide costs of facilities management. Start tracking granular and over-arching facilities management data in real-time by visiting QSI Facilities online or calling 1-888-328-2454 today.