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Improve Asset Performance by having the right data at your disposal – Predictive Maintenance

October 12, 2017
Loc8 Insights Improve Asset Performance by having the right data at your disposal – Predictive Maintenance

The phrase ‘knowledge is power’ seems to have proven itself time and again. The modern world lives by it in an age of digital information. There are several ways an organisation can better itself, one of them is by segregating and utilising data relevant to the goals set out. The right information can solve almost any given bottleneck and can also give additional perspective to probable new solutions.

Predictive Maintenance harnesses the power of a number of tools, techniques and data, with the goal of providing a deeper insight into the performance and management of any given asset.

Predictive Maintenance techniques and reporting practices can be used in any sector that generates data – in other words, almost all companies. To be more specific, any field service business with technicians or contractors to organise, jobs to schedule and potential assets to manage should consider implementing predictive maintenance techniques as a key component that could make them operate more competitively.

Harnessing and utilising the right data set allows informed decisions to be made that can greatly improve customer service, create noticeable efficiency savings in labour time and cut costs considerably. Predictive Maintenance scenarios can now be focused on fulfilling the needs of customers in ways that have never been possible. Instead of relying on customers to tell them what they are looking for in a service, businesses can now use data analysis and predictive maintenance scenarios to forecast customers’ needs and expectations.

In summary, a predictive maintenance strategy, involving tracking asset performance, utilisation, value and life cycle and being able to forecast when maintenance will be required is a game changer for service businesses. Work can continue year round without disruption and more importantly, they can make a call on which equipment they should change, or whether they should retire an asset if it costs more money to maintain it than its initial costs.

Data gives businesses the power they need to make executive decisions and be more profitable. With data, they can anticipate, track, measure and ultimately deliver better service!

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