Feature
How should facilities managers harness the power of data insights?
Bartłomiej Michalski, Big Data Architect at Future Processing
There is no denying that when data is transformed into knowledge, it provides real-time insights that can improve decision making and increase efficiency. Data has become one of the most valuable currencies of modern times. The applications of data are vast, whether it’s applied to customer service, financial outcomes or automating processes. Organisations worldwide are beginning to realise the benefits of investing in its collection and analysis. One industry in particular that has become an avid data collector is the facilities management sector.
According to a Statista report1 , the global facilities management
industry was worth approximately $1.34 trillion in 2020, and is only projected to continue growing in the future. Facilities management companies often are involved in preventing and recovering from business downtimes. These can result in drastic consequences, from lost revenue to customer dissatisfaction. By analysing the right data, facilities management professionals can generate insights into customer behaviour and internal efficiencies that can then be used to improve operational performance, as well as to gain insights into customer demands to bolster customer service.
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The Significance Of Data In Facilities Management Facilities managers are responsible for ensuring the efficiency of the several processes across the organisation, in addition to the overall management of the site operations. Real-time insights provided by the data analytics can enable facilities managers to gain updated information about what challenges employees are facing, plus the strengths and requirements of the site. By the virtue of this information provided by the data, facilities managers can streamline their operations by identifying potential bottlenecks and strengthen their strategies having the changing needs of the facility.
Furthermore, the data insights can prove to be a cost effective tool for facilities management companies. The information gained from the data insights can enable these professionals to fix any potential risks causing damage or downtime - enabling them to save costs spent on the repair and productivity lost in the downtime. In other words, leveraging predictive maintenance with data insights, facilities managers can not only save repair and damage costs, but also increase productivity by reducing or eliminating the downtime.
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