What is Facilities Management Analytics?
Analytics is used to identify key data trends, patterns and insights within facility data. Facility teams use the information gleaned through analytics to improve visibility, make data-backed decisions, and plan strategic initiatives.
There are four types of data analytics that FMs can take advantage of:
- Descriptive: Shows what’s happening now based on incoming data
- Diagnostic: Explains why data is as it is and why events happened
- Predictive: Helps forecast what is likely to happen
- Prescriptive: Instructs on how to influence data and make impactful changes
Key Benefits of FM Analytics
Facilities management teams can use analytics to support critical business operations. Core benefits include:
Gain a comprehensive view of all locations, assets, service providers, and resources to get visibility into equipment, spend, contractor performance, facility sustainability, and repair and maintenance volumes.
Prioritize resources where they will make the greatest impact, avoid bottlenecks, and find areas for efficiency improvement by referencing analytical data. Set KPIs and track progress.
Discover cost-saving areas with spend, invoice, proposal, and work order volume analytics. Allocate spend intelligently and strategically via supplier, contractor, trade, category, district, and region-specific data. Create and track benchmarks across locations for cost control.
Base all facilities management decisions, including resource allocation, asset management, and contractor sourcing, on concrete analytical insights. Provide reasoning behind all decisions to stakeholders across the organization.
Calculate anticipated revenue and outcomes intelligently through FM analytics. Prioritize repair and maintenance activities based on their eventual business value.
Improved Work Quality
Evaluate individual contractor performance to ensure their work adheres to your standards. Hire only those contractors that have produced high-quality repair and maintenance work in the past.
ServiceChannel Analytics Features
- Powered by GoodData: ServiceChannel FM analytics is powered by GoodData, a cloud-based solution that extracts, transforms, and integrates data from sources for visualization through simple web and mobile dashboards. This partnership means that facilities managers gain easy access to key FM analytics metrics for both internal and external facilities management processes.
- Intuitive Interface: Navigate through easy-to-use, visual-based reports and graphics to efficiently gain insights and plan next steps.
- Multi-Site Management: Access analytics data across all business locations, broken out by various metrics. View, learn, strategize, and plan efficiency-building and cost-saving initiatives for success across multiple locations.
- Varied Standard Report Options: Learn insights from standard report templates detailing work orders, service providers, trades and categories, invoices, spend, and locations.
FAQs About FM Analytics
When you’re considering implementing facilities management analytics, ensure you fully understand the process:
What Are My Analytics Platform Options?
- Software as a Service (SaaS): This type of analytics platform automatically pulls data from other platforms to be analyzed in a virtual cloud environment. It uses an existing, complex diagnostics setup that can be customized quickly and easily. It is an effective and affordable solution.
- Customized Solutions: Customized analytics systems are designed specifically for a business’ existing processes. Customized analytics provide extreme flexibility but tend to be very costly to develop, implement, and maintain.
- Embedded: Embedded analytics are integrated into existing FM hardware and software. This is a great option for new facilities with compatible equipment, but can be challenging and costly to fit into facilities with long-standing assets. There is also limited availability and functionality.
- MSaaS: MSaaS analytics platforms are SaaS platforms run by remote engineers and analysts. Their expertise can help drive results, however, since the employees monitoring analytics are off-site, they may not align fully with your goals.
What are the Benefits of SaaS FM Analytics?
SaaS analytics for facility management are cost-effective, accurate, flexible, and customizable to your existing technology and operations. SaaS analytics tools are cloud-based, which provides easy storage with simple, 24/7 remote access and control.
They’re also typically easy to implement and align, delivering results quickly. Additional features and functions can be added to SaaS analytics tools whenever needed, so costs are transparent and easy to control.
What Kind of FM Analytics Support Do I Get?
When you first become a ServiceChannel customer, our implementation team will train you and your staff so you have a comprehensive understanding of our analytics solution and how best to use it to your advantage. Once your implementation is complete, our customer support team will provide you and your staff with ongoing assistance.