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4 Business Problems You Can Solve with Better Data Reporting

  During the coronavirus pandemic, companies have downsized, restructured and gone through all manner of structural changes. Despite the turmoil, some departments like maintenance and operations have continued largely with business-as-usual. Why? They are deemed essential. Robust data reporting helps you prove your team’s impact on the bottom line, secure budgets for new projects and gain credibility—and therefore, leverage— with executive management. You wouldn’t hire a mechanic to fix your car until you’ve read reviews and compared prices—or, in other words, until you’ve analyzed the data to make sure you’re making the best choice. The same goes with business decision-making, which is far more high-stakes, where data should be the basis of every decision you make. Data reporting is the process of collecting and formatting raw data and translating it into a digestible format to measure the ongoing performance of your organization.  Different industries use it for different reasons. Healthcare providers use it to optimize patient outcomes and deliver personalized care. Energy companies use it to achieve things like lower energy consumption by monitoring streaming data to make real-time adjustments in energy use and production.  Using reports, dashboard widgets and live views, you can organize your data into informational summaries that monitor how different areas of the business are doing. Here are four big things you can achieve with better data reporting.    1. Improve your customer service Customer data has become an invaluable asset, used in everything from ad targeting to sentiment analysis and ecommerce personalization. But even if you’re not a major retailer, you still need insight into how your customers feel about your product or service, what pain points they’re encountering during purchase or after-sales care, and what factors lead to churn.  Data reporting helps you piece together why customers are calling to complain, how much value a certain customer has brought to your business and whether that dollar amount has changed over time, as well as monitor how certain customer segments respond to various marketing or sales initiatives.  Meanwhile, maintenance management data provided by a CMMS helps reduce unscheduled downtime. Delays in production can create a poor customer experience, strain relationships with suppliers and upset the logistics supply chain. 2. Control operational costs Using data to make more judicious budget allocations has obvious benefits in terms of cost control, but it can help you reduce wasteful expenditures. For example, proactive maintenance is an approach that uses historical data to predict when an asset will fail, and performing preemptive maintenance to avoid the massive costs of unplanned downtime (in the auto industry, this can be as high as $22,000 per minute). According to a study by Kimberlite, organizations that use a data-driven proactive maintenance approach see their downtime reduced by 36% compared with those who rely on reactive maintenance. Extracting insights from historical data also helps capital-intensive businesses use data to reduce their physical inventory and unsold stock. When it comes to a massive power plant or manufacturing plant, having the right replacement parts in stock can mean the difference between hours—or even days— of unscheduled downtime (and lost revenue) while waiting for a part to arrive or a quick and easy fix.    3. Secure budgets for projects Each department is responsible for demonstrating how their teams’ activities impact the organization’s bottom line. Data reporting provides teams with the ability to show tangible results, such as time saved by using a new project management tool or how much customer churn decreased since hiring a new customer success manager. Tracking data also helps you know where to allocate budgets to specific activities within marketing or sales. Are your display ads generating qualified leads, or are you better off using an account-based marketing strategy to target your most high-value prospects?  Maintenance teams starting with a preventive maintenance strategy for the first time can use data reporting to show return on investment and cost savings from prolonging asset life cycle. Finally, it can be hard to secure budgets for untested initiatives, but data reporting helps you establish a track record of results, thereby making it easier for you to make the case to executive management.  4. Make better hiring decisions People analytics is the practice of using statistical insights from employee data to make talent management decisions. Over 70% of companies now say they consider people analytics a high priority. Some years ago, Google began distributing laptop stickers to new hires in the people analytics department with the slogan: “We have charts and graphs to back us up. So f**k off.”  The main purpose of people analytics is to determine the root cause of HR problems like a talent shortage, high turnover or an excessively long hiring process, plan interventions and prepare for future staffing needs. For example, if the organization needs to cut down on workforce costs, you can identify where you are losing money.  Perhaps your technicians’ wrench time is abysmally low (for most organizations, this hovers around 25-35%), which could mean poor work order management or even an incompetent manager. Digging deeper into the data helps you understand whether technicians are simply not working at full productivity, or if they’re simply not being assigned enough work because of an outdated maintenance management system. Access to workforce data also helps you determine the characteristics of high-performing employees so you can find similar candidates in the future, or create a training and development plan for your less able employees. 

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4 "Bonus" Features of a Modern CMMS You Can't Do Without

  A “good” worker gets the job done, a remarkable one goes above and beyond. The same goes for a CMMS —  or indeed, any AI-powered technological asset you invest in. Beyond core features like preventive maintenance and work order management —  the basic flesh and bones of a CMMS —  what other ancillary features should prudent buyers should look out for? Choosing a modern CMMS that goes above and beyond standard capabilities could mean the difference between getting your maintenance management under control or wasting money. Here are five must-have though less obvious features to look out for. 1. A mobile-first product Technicians who work in a large square footage facility or leave HQ for offsite work need to access the CMMS wherever they are. A mobile-first CMMS synchronizes between all mobile devices so technicians can remotely enter data, create work orders, and access information about assets and repairs from a tablet, smartphone or laptop. However, an adaptive software interface that flexes to whichever device you’re using isn’t enough. A truly mobile product is built around group collaboration, with features like an internal chat/messaging system and the ability to ‘@’ tag team members, make comments when updating a work order and annotate reports. You should be able to share dashboards, request status updates and view real-time data. MicroMain’s Mobile Technician App lets GLOBAL users out in the field complete tasks while offline. GLOBAL is cloud-based, so you can access it from any internet-connected device even if you’re not in the office. 2. Funding forecasting  When a C-level executive greenlights a CMMS purchase, they do so with one objective in mind: cutting maintenance costs. It therefore goes without saying that any maintenance solution must have tools for financial forecasting to enable teams to track maintenance-related outlays, stay on budget and maximize their asset life cycle. Forecasting is an advanced feature that many companies don’t offer or charge extra for. Basic forecasting capabilities enable users to organize receipts and foresee upcoming expenses, but the best CMMS tools integrate these features with asset inventory. Equipment and asset management help minimize the chance of equipment failure by tracking performance data and scheduling preventive maintenance. The EAM software should provide insight into repair history, work orders, floor plan management, and associated costs for each. 3. Meaningful data reporting Data collection that doesn’t generate actionable insights is a futile endeavor. Your CMMS reporting tool should help you answer questions like: How much time did we spend on safety audits last month? Is it time to replace X piece of equipment? Is our facility understaffed or overstaffed? Go one step further beyond actionable insights (fixing what’s wrong) and you get proactive recommendations (preventing a breakdown), where the data shows you how to finetune scheduled maintenance beyond a manufacturer’s recommendations. Ideally, the CMMS should cross-reference work order data by assigned technician, asset type, time to complete and so on to generate meaningful reports. Prioritize CMMS data collection that simplifies complex metrics into charts, graphs and KPIs to aid decision-making. 4. Document storage While the purpose of a maintenance solution is to record maintenance activity, it should serve as a repository for equipment-related documentation. A CMMS should come with file storage where users can upload critical documentation, like O&M manuals, equipment warranties, receipts from work orders and so on. These documents should also be accessible via the mobile app as downloadable items. 5. Web request system With the help of a CMMS, maintenance teams will have their finger on most equipment breakdowns and maintenance needs before they happen. However, sometimes s**t happens. If you run a large hotel or apartment complex, or you oversee several major power grids all at once, the first person to notice a problem might be a customer or an employee outside the maintenance team who doesn’t have CMMS access privileges. A web request system allows non-licensed users to submit work requests through a simple web form. You can customize the form to include the information you need, such as task type, building area, room numbers and the requester’s contact information. How to Get Started With so many CMMS options available, you’ll want to find the right maintenance solution that pays for itself, makes life easier for your maintenance team, and helps you stay on task and on budget. Book a demo  with one of our specialists today to discuss your business needs and to see if MicroMain is right for you.  

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