Improve Equipment Management – Not all Data is of Equal Value
Posted by: Jackie Luo, CEO, E-ISG Asset Intelligence
Optimizing asset utilization directly contributes to the bottom line: reduce costs, increase return on equity. The key is to use the right data to improve decisions. Organizations have all kinds of data, but what are the criteria for the “right data” when it comes to optimizing the use of equipment and other physical and IT assets?
The fundamental belief behind our enterprise resource management software solution: collect “the right data.” So, again, what is “the right data” for enterprises to manage their assets effectively?
Accurate, real time, updated information about assets throughout their life cycle: tight control on who can input and update data, minimize double entry of data, keep a digital record of the physical movement of assets, integration with procurement and financial accounting systems.
Usability of data: The equipment information may be housed in some old database from the legacy ERP system, but the presentation of the data needs to be user friendly. There should be no roadblocks to accessing this information which means easy export and import to Excel files, easy configuration of report fields and integration with other systems so that users don’t have to go to multiple screens to access the data.
Mobility of data: Assets are constantly on the move. Asset information should be updated and viewed from anywhere. Data needs to be accessible across all kinds of mobile devices, mobile scanners, mobile phones, or iPads. Mobility is the key value driver for enterprises to adopt a new generation of enterprise asset management software solution, as the ARC Advisory Group predicted, mobility of data should be an essential piece of the overall solution.
Intelligence of data: there is a lot to come on this attribute. With the rapid development of web and mobile technologies, all data will carry contextual information. They can be in turned used to improve decision making effectiveness.
Related links: “Garbage In, Garbage Out” by: Bob Champagne – UMS Group, Inc.