A data-driven facilities management model starts by making sense of all the information on offer with the help of Computer Aided Facilities Management (CAFM) software or an Integrated Workplace Management System (IWMS). These tools help take the right decisions, enhance employee experience and improve operational efficiency.
Up until a decade ago, systems in facility management worked independent of each other. Today, the Integrated Workplace Management System (IWMS) software manages an organisation’s real estate portfolio, infrastructure and facility assets. The availability of data mining and data science means accurate analysis and interpretation of data is more possible than ever. With accurate data analysis at your disposal, you can combine digital data forensics with predictive data to signal when and what facilities require maintenance.
Data analysis allows your organization to maximize the benefits of facility management by setting benchmarks, predicting anomalies before they even occur, and operating within a working budget. With a data-driven model, your organization identifies the where and how of resource wastage and the opportunities to increase space utilization at the premises. Data analysis improves decision-making tremendously and paints a clear picture of the business’ health.
A data-driven facilities management model starts by making sense of all the information on offer with the help of Computer Aided Facilities Management (CAFM) software or an Integrated Workplace Management System (IWMS). Whether separately or in collaboration, these tools help the stakeholders make precise decisions, enhance employee experience and improve operational efficiency.
With so much data on offer, you must segregate them into useful subsets with each subset providing insights into a specific area of facility management. These are:
Descriptive : Data that highlights a specific trend.
Diagnostic: Data that identifies the drivers of the trends.
Predictive: Data that forecasts new trends.
Prescriptive: Data that influences the trends
Say, you want to analyze data related to hot desking, a system where desks are used by different people at different times on an ad-hoc basis . Descriptive data tells you the number of occupied desks whereas predictive data forecasts what the number will be in future based on past trends.
As a facility head, you want to analyze each component of your business to ensure the organization reaches its set objectives. Although that is what you should ideally do, it’s humanly impossible to watch every moving part.
This is where technology comes into play. With technology, you don’t just measure a performance metric but also get insights on the steps required to make the overall process more efficient. How?
Data obtained from integrated tech systems allows facility managers to understand the day to day functioning of FM operations. And when this aggregated data is combined with IOT, you quantify the workplace. Quantification ensures improvement in operational efficiency at the facility.
While there are several crucial data metrics for each industry and business, here are 3 of the most lucrative performance metrics to track:
Organizations have realized, prevention is better than cure. Rather than waiting for the inevitable equipment outage, companies collaborating with FM services are conducting predictive maintenance. Some of the key parameters to measure maintenance performance metrics include the cost of repairing the assets, cost of service, and labour hours. A deeper understanding of the numbers above will help reduce downtime.
With facility management software, you can measure maintenance performance metrics with precision. Not only does the software point out the issues in the operation but presents them to you in a way that eliminates the need for the manual creation of custom graphics. The FM software uses augmented intelligence, a method that empowers users to work better and smarter to tell you the exact stage of the problem. Once the fault is identified, the technology, combined with operational processes, executes timely and cost-effective action. This concept is known as data-driven facilities management.
Data-driven facilities management aims to move away from reactive operational processes anchored by alarms and failures to act that is driven by concise information detected and analyzed by the analytical software. With this data-driven model, you identify the assets that matter rather than trying to monitor the whole system. To take advantage of the model, your organization must adapt to the software’s capabilities and modify processes likewise.
Whether it be office, meeting, or technical space utilization, the number varies day today. Moving away from a head-count-based approach (which includes monitoring metrics such as vacancy rate and office space density), companies are now measuring the percentage of space utilization and cost of leasing space per employee. The new model has proven to be cost-effective and more adaptive in the post-pandemic world.
Analyzing the sustainability metric increases energy efficiency, reduces heating and cooling costs, lowers paper product consumption, and decreases water usage. Additionally, it helps organizations fulfill Corporate Social Responsibility (CSR).
The importance of data will continue to grow in the facility management industry. The implementation of technology to analyze data and put it to useful work will only increase. Activities that are still run individually will be integrated, meaning, facility management providers will be able to gauge the level of maintenance required at a particular site with more accuracy than ever.