Analytics are an innovation, a driver of change, and an accelerant in simplifying facilities management. While they use advanced algorithms and cloud-computing capabilities, their insights lessen delays for Facilities Managers, improve accountability and viability, and enhance facilities management project outcomes. In fact, a Forrester Research survey, reports Service Channel, found only 12 percent of data and organization is currently being analyzed and used for continuous improvement. This means there is room for improvement in using data for facilities management, and some of the top ways analytics are simplifying facilities management include these key measures.
Analytics Provide Insight into Asset Condition and Increase Visibility
According to FM Link, analytics are integral in using the power of Big Data to identify asset condition and increase visibility into asset performance, as well as identifying costs for asset performance. Analytics evaluate asset performance by measuring energy use, work performed, and effect on the facility atmosphere. Furthermore, analytics can use external and internal data points to identify trends within equipment function, allowing for the prediction of when an asset may fail, malfunction, or perform under expectations. In a sense, this is key to promoting proactive facility management, as well as preventative maintenance within your department.
Simplifying Facilities Management with Analytics Identifies Missed Opportunities
Analytics can leverage historic and real-time data to identify missed opportunities, a key aspect of Six Sigma methodology, as it relates to facilities management. This is referred to as descriptive analytics, which is used to identify what happened, what caused it, and why it occurred. Furthermore, the use of descriptive analytics is a precursor to you leveraging analytics for predictive purposes, identifying potential asset failures before they occur.
It Enables Synchronization of Activities to Increase Performance
Analytics and Big Data are essential in the use of automation in business intelligence throughout facilities management. Automated systems take advantage of analytics-based insights to identify when a change in existing operations as NASA’s Parry. This is also known as prescriptive analytics, which identifies the course of action necessary to achieve a desirable, best-case outcome. Facilities Managers who can identify the best-case outcome can effectively use analytics to simplify the entire decision-making process and allow systems to self-optimize and self-monitor performance through artificial intelligence and machine learning. As the system grows smarter, Facilities Managers have fewer responsibilities and can focus more on customer service.
Analytics Validate Decisions and Investments
A primary use of analytics goes back to validating investments and decisions. Since analytics use data to do the proverbial talking, they are integral in proving the value of investments in facilities management equipment, systems, or platforms. Analytics can identify exact value creation resulting from increased system and asset performance, which is integral to you maintaining shareholder and C-Suite support for investments in your facilities management program.
Simplify Your Facilities Management Strategy with the Use of Analytics Today
Effective facilities management enables simple, informed decision making by reducing risk deriving from chance and assumption. Analytics empowers facilities management in the following ways: simplifying processes, eliminating uncertainty, and giving Facilities Managers a defined path toward success. Put your Facilities Managers in the driver’s seat with a robust analytics-based platform.