How BI dashboards create better prepared facilities management teams
No matter the industry, it’s no secret that uptime is critical for facilities managers. Take grocery stores, restaurants, or healthcare facilities that stock refrigerated pharmaceuticals. In all cases, refrigeration downtime means lost revenue, spoilage or worse.
As custodians of an organization’s assets and customer experience, facilities managers are expected to be prepared and avoid equipment failure, or at least mitigate its consequences.
A forward-looking facilities management (FM) mindset is even more critical today due to supply chain disruptions, long delivery times, inflation, and shortages of parts and materials—all of which conspire against efficient FM and advocate for greater preparation.
Introducing Corrigo’s new Asset Insights dashboard
The new Asset Insights dashboard, included in Corrigo’s new Business Intelligence (BI) module, identifies equipment approaching the end of useful life and generates prescriptive recommendations for when replacement should occur. Dashboard metrics inform budgets and notify executive leadership and departments, like finance, accounting, and insurance, about future capital expenditures. Advance notice makes everyone better prepared.
The dashboard accelerates decision-making by presenting just the metrics that matter. The Corrigo platform tracks 305 million assets, and dramatically simplifies the retrieving, organizing, and presenting of that data.
Unlike other BI software point solutions, the Corrigo module is uniquely designed for facilities managers.
The Asset Insights dashboard provides facilities managers with a high-level, easy-to-understand view of their organization’s assets along with links to details for viewing the health of individual assets.
Behind the scenes, Corrigo BI tracks and analyzes thousands of data points to generate insights and prescriptive recommendations that:
- Identify the top-15 assets in the portfolio needing replacement and when they should be replaced
- Compare the continued cost of repairing an asset as a percentage of full replacement cost
- Identify at-risk assets and propose appropriate maintenance solutions
- Incorporate data from systemwide Corrigo benchmarks
- Streamline asset management workflows
The Asset Insights dashboard gives unparalleled visibility into assets
The dashboard home screen below presents key metrics for your Corrigo instance, including:
- Assets and equipment under management
- Equipment needing replacement
- Equipment lacking preventive maintenance (PM)
- Equipment lacking data
- A graphic showing the portfolio breakdown by asset type
For a magnified view of the image below, right click the image and select “Open image in new tab.”
The “Equipment Needing Replacement” view shown below looks years into the future. It’s the essential preparedness tool for FM teams. It includes a replacement timeline and a table of all identified replacement assets with links to their maintenance history and cost details.
Per the Society of Maintenance and Reliability Professionals, reactive repairs are three to five times more expensive than preventive maintenance and take three times longer to complete. PM enhances preparation by monitoring asset health through regular scheduled maintenance.
The “Equipment Lacking PMRM” view below identifies assets with no scheduled PM. Links allow users to drill down into these assets and set up preventive maintenance schedules. “RM” stands for regular maintenance.
The effectiveness of any BI solution is only as good as the data it tracks. The “Equipment Lacking Data” view below shows assets missing data that could otherwise be used by BI algorithms for calculating equipment needing replacement, for example. This view includes links for users to directly input missing information.
Discover how the Corrigo Asset Insights dashboard helps FMs make more informed business decisions to better manage their assets and ensure greater uptime. Visit our Business Intelligence solutions page or contact a Corrigo expert today.