How to take your asset management from data-enabled to data-empowered
By the year 2025, 463 exabytes of data are going to be created every single day. The accumulated digital universe of data stood at 4.4 zettabytes in 2013 and is expected to be over 40 zettabytes in 2020, growing by 10x in seven years. Most of this data lies in the hands of companies, but data alone doesn’t translate into meaningful insights.
You’ve probably taken steps to extract data from your assets and your asset management program, and that data can help you cut capital expenses, eliminate inefficiencies, and extend asset lifecycles.
Data on its own, though, isn’t enough to help you take the next step toward creating radical business change and insights at scale. Picture having instant visibility into the state of all of your assets at any point, and empowering everyone in your organization to make informed, reasoned decisions based on accurate information. You need more than data to do that – you need better processes enabled by simple to deploy and use digital solutions.
So why can’t you use data alone to make radical change?
- Lack of transparency: When there’s limited visibility into how the data was gathered, where it came from and how it is being processed, it usually leads to a questioning of the data – when people question the data, it’s hard to drive insights or action.
- Silos: At most companies, not only is data siloed, but individual business users also each have their own dashboards. In effect, there is no shared, central repository for everyone to benefit.
- Repetitive Efforts: Because of the aforementioned silos, by nature, lots of efforts end up getting repeated over and over again. Business users don’t have any visibility into projects and analysis that have already been done, which causes a lot of time and money to be lost.
- No central vision: Ultimately, the company doesn’t have one overarching idea or standard for using data, and with a lack of vision, no one individual business user, much less an entire line of business, can really move forward and execute properly.
At its core, Tego captures and manages asset data at, and in fact on, the asset itself. Tego’s asset management solutions seamlessly feed in distributed information coming from personnel and business processes, combining it all into a powerful repository for centralized viewing and analyses, and enabling local action. The solution enables immediate data feedback and visibility for everyone from the executive level to fieldworkers, the latter of which is typically operating in the least informed but most directed manner.
Find out how you can take your asset management from data-enabled to data-empowered. Learn more about Tego’s solution here.