The Strategic Value of Investing in Facilities Management Big Data Analytics
May 1, 2019
Big Data Analytics (BDA) and Business Intelligence (BI) reporting is key to the future success of the facilities management sector. The data that passes through your CAFM system is priceless and extracting that value should be a top priority.
RICS highlighted the value that BDA can add to the facilities management sector in their June 2018 report; Big Data Analytics – A New Revolution in the Facilities Management Sector. While analysing the outcomes of their research they noted:
“This early phase of the analytics journey is completely transforming traditional FM; delivering significant business benefits such as:
- Shorter payback periods
- Enhanced productivity in workflow management
- Improved resource and stock management
- Greater accuracy in tender pricing
“Powered by the predictive analytics, IoT and data-driven insights, novel asset management practices are adeptly eliminating unplanned failure risk, increasing asset life and optimising maintenance scheduling (i.e. organising maintenance at times when the minimum cost and disruption to business occurs). BDA has supported the minimisation of downtime and consequent maximisation of asset and equipment availability while significantly reducing lifecycle expenditure.
“BDA is driving the most marked innovation and increased efficiency in the area of energy management. Having access to a system’s complete dataset, right down to the individual pieces of equipment, is allowing facilities managers to identify energy saving opportunities and provide valuable insights on client’s energy usage.
“This can substantially reduce the costs associated with owning an asset and most importantly eliminating the resource-intensive preventive maintenance activities. Researchers have also stated the potential benefits to FM organisations from lowered operating expenses, higher profit margins and enhanced service availability”.
We have borrowed that extract from the RICS report as we feel it truly highlights the benefits to an organisation if they are prepared to invest in their data.
For the last three years, we have been at the forefront of BDA and BI reporting in the facilities management sector, working with FTSE 250 organisations, large property developers and not-for-profit organisations.
We have consistently delivered BDA that has driven innovation, service improvements and average cost efficiencies of 30%. We deliver BDA as part of our wider facilities management integrator solution, or on a one-off consultancy service to help clients get an introduction and understanding of its many benefits.
Answer these questions honestly:
- Are you guilty of not using the data you have in your CAFM system to its full potential?
- Could strategic data management improve life-cycle planning and CapEx forecasting?
- Would better data management improve the way you procure?
- Should you invest in a professional big data management strategy?
If the answer to any of the above questions is ‘YES’, then you need to speak to us. Using our experienced team of analysts, we can interpret your current data to analyse trends and identify gaps in your data collection processes.
Please contact Mark Taylor on 07518 44 838 or firstname.lastname@example.org to discuss how Autonomous FM could support you in unlocking your data and allowing you to use it more strategically in future.
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