{"id":823,"date":"2018-07-25T10:32:00","date_gmt":"2018-07-25T14:32:00","guid":{"rendered":"https:\/\/assetworks2stg.wpengine.com\/eam\/?p=823"},"modified":"2024-12-10T12:59:07","modified_gmt":"2024-12-10T17:59:07","slug":"eam-optimizing-data-collection-actionable-results","status":"publish","type":"post","link":"https:\/\/www.assetworks.com\/eam\/blog\/eam-optimizing-data-collection-actionable-results\/","title":{"rendered":"Optimizing Your Data Collection for Actionable Results"},"content":{"rendered":"\t\t
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All too often, asset intensive organizations spend a great deal of time and effort collecting data that is never used, or, even worse, they don\u2019t collect the data they need to make effective decisions. Not all data is created equal. Sometimes, your collected data will permit you to see your organization\u2019s efficacy, while other times you can use your data to create financial decisions.<\/p>

If used effectively, your holistic data will allow you to optimize your processes while also helping you to make educated predictions about the future of the financial or personnel resource situations in your organization. Going forward, it is imperative that you establish the goal of your data collection at the outset.<\/p><\/div>

Focus data collection efforts<\/strong><\/h4>

The amount of data that you should collect and analyze will differ depending on what team is utilizing the data. Certainly, you don\u2019t want to put excessive work on your team members to collect data that won\u2019t be used or relevant to your organization. What can you do with the data you are collecting? Is there more data you need to collect, or less?<\/p>

Once you identify the primary goal of collecting your data, you need to ensure that everything you collect is accurate and usable. It\u2019s easy, even enticing, to take shortcuts in data collection, but those can be disastrous for your organization. Wrong data can indicate an improper asset replacement time, overpayments for projects or repairs or unnecessary downtime for public-facing assets.<\/p>

As such, an enterprise automated data collection tool is the ideal resource for ensuring data accuracy and integrity. It reduces the error potential of human input, and also allows for digital trend recognition.<\/p>

Do you know the differences between the data required for projects and data required for making strategic decisions? Project level decisions typically require granular data, while strategic decisions are made with more generalized data.<\/p><\/div>

Example<\/strong><\/h4>

Organization 1 keeps track of detailed measurements of dimensions and materials testing reports, but they fail to accurately track assets\u2019 year of construction or procurement. While they collect an impressive amount of data, the data they lack will make it difficult to forecast replacement activities at a high level.<\/p>

Organization 2 collects detailed age and maintenance data, so they find it easy to forecast their future replacement needs, but the data they lack makes it more difficult to select projects.<\/p>

Both organizations can learn from each other. While Organization 1 collects detailed data on their assets, they overlook assets\u2019 construction date. This can lead to ineffective maintenance and replacement schedules. Organization 2 tracks all maintenance and replacement data, but overlooks more in-depth asset data. This can lead to poor project selection in the future.<\/p>

Today, all asset intensive organizations need to focus data collection efforts that support all levels of strategic decision-making. Take a look at the data you\u2019re currently collecting: does it support your<\/p>

organization in the long-term?<\/p><\/div>

Understand core asset attributes<\/strong><\/h4>

When developing an asset register, understanding all asset attributes should be a main priority. These attributes include:<\/p>