ENTOUCH Smart Building Solutions

Actionable Data: Analytics Accelerate Monetization of Connected Facilities

The ability of your organization to tap into the value of actionable data lies in your ability to apply big data analytics. Analytics referred to a broad group of algorithms capable of helping Facilities Managers understand what is happening, what may happen, what should happen, and what is necessary to achieve the maximum result. In addition, analytics requires a means of collecting data, meaning connected facilities are critical to the use of actionable data. Actionable data and analytics also accelerate the potential return on investment of connected facilities investments, explains Matt Ernst via FacilitiesNet. Facility Managers need to understand the possible challenges in managing connected facilities, why connected facilities and analytics work seamlessly together, and a few best practices to streamline the process.

The Challenges of Managing Connected Facilities

The value of actionable data is limited to its scale and consistency across your organization. If only a few systems are connected to an overarching platform, data is meaningless. In addition, your organization could be tracking the wrong data, tarnishing brand value, and decreasing time to your return on investment (ROI). However, organizations can do something about it by ensuring they are following a process that will generate and apply actionable data. After all, the best data generating tools in the world are useless if they do not contribute data to your analytics platform. Knowing your current energy use for an asset is a good thing, but if that asset is running more than expected, especially considering other HVAC units in your facility, it could be costing much more than you think.

Connected Facilities and Analytics Are Designed to Work Together

Connected facilities and analytics are designed to work seamlessly together, leveraging the power of wireless capabilities, cloud-computing, algorithms, artificial intelligence, machine learning, and even innovative predictive maintenance models to improve operations. Furthermore, the rise of the Internet of Things (IoT) gives Facilities Managers an upper hand in retrofitting facility assets, using wireless technologies, so every asset can be successfully connected to an overarching management platform, generating actionable data. When problems arise, subtle changes in energy use and performance occur. Moreover, the analysis of this information helps Facility Managers make informed decisions and manage facility spend – proactively!

Best Practices to Optimize and Streamline Actionable Data Collection and Use

It always helps to have a few best practices to follow that will optimize the collection of actionable data. Instead of merely trying to collect data manually or comb through data without assistance, Facilities Managers should follow these steps:

  1. Connect everything.
  2. Bring all analytics capabilities under one roof.
  3. Benchmark performance to determine current operating status and potential ROI.
  4. Apply machine learning to determine the best possible outcome.
  5. Leverage automation to enact changes based on actionable data.
  6. Never stop improving.
  7. Consider outsourcing the entire process to an experienced Facility management services provider.

Leverage Analytics to Generate and Apply Actionable Data

Analytics are a proverbial goldmine in facilities management. Your organization needs to begin the process of putting connected sensors and technologies in place to put the power of analytics to work. Leverage analytics in your facility by contacting an established energy and Facility Management provider, such as ENTOUCH. Learn more about the capabilities and potential of advanced analytics and actionable data by contacting ENTOUCH online now.