Getting Granular with Facility Management Data: 4 Tips to Effect Change That Improves Your Bottom Line
This article is a guest contribution from our partners at ENTOUCH, and was first published at The ENTOUCH Blog.
Knowing how to leverage facility management data is key to profitability and improving your bottom line when using smart building systems.
Facility management data is growing more granular. This means data is becoming more refined and applicable to actual changes in operations. In other words, granular data is integral to improving how you make decisions as a facilities manager or executive in your company. Also, following a few tips can help you effect change that improves your bottom line.
1. Customize Metrics to Proper Parties
Facility management data can help your facilities management team make data-based decisions and improve the way equipment functions. However, the data must be relevant to individuals making the decisions.
As explained by Angela Lewis via FacilitiesNet, granular data—data that is specific to unique aspects of facility management—should be tailored to the everyday activities of persons involved in using it. High-level data, like overall cost savings and efficiency, may be relevant for executives, but sub-load metering data and unit performance metrics may be more valuable to technicians and individuals working with systems on a routine basis.
2. Make Data Easy-to-Use
Unless you want to hire an engineer or computer expert, facility management data should be easy-to-use. While systems exist that allow you to manage the analytics and insights, all information presented to your team members needs to be actionable. In other words, data should be easy to read, easy to access, and easy to understand. Dashboards can also help make the information actionable as well.
However, you still need to understand what it means, so consider using a system with integrated analytics capabilities, or consider outsourcing analytics and system management to a third party, like ENTOUCH.
3. Set Clear Benchmarking Standards
Benchmarks are target zones for operations in facilities management, and facilities management data can be leveraged to increase adherence to benchmarks. Granular data in benchmarking pinpoints areas of under- or over-performance, which can help you justify changes in the budget to meet benchmarks. Meanwhile, you can also point to performance relative to benchmarks to justify labor costs, like repairs or upgrades, to members of the C-Suite. However, all benchmarks should be defined and include routine re-evaluation. For instance, quarterly reports can provide a benchmark of your facility management data collection and analytics systems.
4. Granular Data Means CONNECT EVERYTHING
Granular data is small, and for the same reason, every small thing in your company should connect to the system. This is the fundamental concept behind Big Data, explains FM Link: using numerous, small and high-volume data capture points to generate insights and core measures of functions. However, granular data is only as good as its weakest link. Therefore, you need to bring all equipment, devices, and systems under one roof. All systems should be linked and connected.
Use These Tips to Boost Your Bottom Line Today
While these tips may seem minor in the grand scheme of energy efficiency, they will help your organization isolate inefficiencies and problems in your facility. Moreover, following these tips can help create a company-wide effort to increase energy efficiency and reduce expenses. As a result, your company’s profitability will increase.