As explained by Kevin Brown via Facility Executive, preventive maintenance is a guaranteed way to save money, and the opposite holds true as well. Following a reactive maintenance strategy for maintenance of critical assets will lead to higher energy costs and decreased asset life. Unfortunately, the higher cost of energy-efficiency practices, approximately 6.5-percent more, can lead some to forgo such investments. However, even with existing systems, Facilities Managers can leverage historical data as a “to-do” list for making maintenance decisions and planning.
Failure to Apply Actionable Data Leaves Money on the Table
The biggest problem with maintenance on critical assets exists in the failure to apply data to make informed decisions. The use of data and analytics represent one of the biggest advantages modern Facilities Managers have at their disposal. In addition, modern energy management systems, like the ENTOUCH platform, are designed to create data for use, and the rise of assets with IoT-enabled sensors embedded in the manufacturing process is a testament to this fact. Unfortunately, failure to apply actionable data will always lead to leaving money on the table, lost opportunities and compromise the customer experience.
Modern Systems Streamline Data Analytics and Maintenance on Critical Assets
Modern systems, such as cloud-based energy management and a computerized maintenance management system (CMMS), provide Facility Managers with an arsenal of resources to streamline maintenance. Data analytics, including descriptive, predictive, and prescriptive analytics, help Facility Managers understand what is happening with current assets, what will happen if conditions remain unchanged, and what must occur to ensure an optimum result. The triad of data analytics streamlines the decision-making process and help Facility Managers create a proactive process for maintenance on critical assets. The result is reduced total cost of ownership and better capital planning. By their nature, analytics require historical data to track asset performance and determine if current performance falls below, meets or exceeds expectations.
Tips for Leveraging Historical Data for Better Maintenance
Facility Managers should also follow a few tips for leveraging historical data for better maintenance practices, including:
- Know the condition of your building and assets.
- Gain asset-level insight into energy consumption and condition.
- Track real-time data; leverage historical data to understand changes in cost over reporting periods.
- Extend the investment of an existing CMMS.
- Use the IoT to automate data collection for facility assets.
- Put analytics to work to understand where areas with the most significant opportunity for ROI exist.
- Validate cost avoidance savings.
The most critical step is the continuous improvement and repetition of the process to ensure maximum returns. Moreover, repeating the process leads to a self-propagating cycle of better maintenance planning and knowing what is necessary to save money and extend the useful life of critical assets.
Refine Your Maintenance on Critical Assets Through Data Use Today
Performing maintenance on critical assets is crucial to avoiding disruption to customer experiences, preventing increases to the total cost of ownership of facilities and extending asset life expectancy. Moreover, improper prioritization of the maintenance schedule will lead to unnecessary expenses and higher costs of maintenance. Prioritize your maintenance needs by connecting and leveraging data on critical assets through the ENTOUCH platform. Get started by visiting ENTOUCH online or calling 1-800-820-3511 today.