Dynamic Asset Management Information The key to effective decision making

April 9, 2014

Big Data. Mobility. Information management. Business intelligence. Data discovery. These terms dominate industry discussions wherever one goes. Globally we are obsessed with amassing data, but how many companies actually collect the right data – data that will provide meaningful information for strategic decision making and desired business results?

Leading physical asset management company, Pragma, offers its clients a diverse range of tools to establish an effective Asset Management Scorecard. These tools make it possible to collect applicable data speedily and accurately, and process it into meaningful information, which can be monitored and analysed interactively. The end result is a very powerful asset management information system which enables managers to have their fingers on the pulses of their assets and make quick and effective decisions.

Stefan Swanepoel, Associate Consultant at Pragma remarks: “Asset management KPIs typically measure costs, risks, asset performance, delivery and quality, and are deployed on a strategic, tactical and operational level. Pragma’s On Key Enterprise Asset Management (EAM) system offers a three-part integrated asset management information solution. Firstly, a range of preformatted SQL Server Reporting Services (SSRS) reports is available for rapid deployment and parameter-based configuration. Secondly, On Key Analytics, a built-in business intelligence tool provided through QlikView which is recognised as a world leader in Gartner’s BI and Analytics magic quadrant). On Key Analytics enables dynamic and flexible data mining and analysis of a wide range of asset management data. Finally, On Key’s built-in data query capability allows users to do custom queries on the fly.”

The benefits of Pragma’s Management Information toolset are countless. Managers have access to asset management KPIs anytime and anywhere. Wide accessibility of information allows for effective delegation of decisions to first line managers who are close to the action. The interactive data mining capability of On Key Analytics leads to better root cause analysis and effective problem solving, encapsulating the history of breakages on an asset component and asset type. Decisions and improvement plans are fact-based and the intelligence generated from the system offers a holistic asset management perspective. Measuring the right KPIs and being able to identify trends and patterns that influence performance, leads to focused improvement and bottom-line benefits.

Ultimately less time should be spent on data processing and report generation and more time on problem solving and improvement actions. Pragma can assist asset managers to achieve this goal with a dedicated team who develops custom reports and interfacing tools on behalf of clients.

An essential feature of collective data is the ability to combine information from multiple sources. Although this is could be a great challenge, On Key Analytics addresses this problem effectively as it expands effortlessly to incorporate data from multiple sources.

Swanepoel concludes: “Managers are typically shielded from asset data as they depend on data analysts to tell them what is happening. With On Key Analytics this is no longer the case. It is very user-friendly, intuitive and browser-based, giving managers direct access to asset information and the underpinning data for swift decision making.”

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