Many asset-intensive organizations rely on the data in their EAM or CMMS systems to drive the maintenance practices that keep their business up and running. But what happens when your data quality is incomplete and inaccurate? How is it affecting your company as a whole? Are your maintenance costs just skyrocketing because of all the problems your data is facing? When you have poor data, it is often most apparent within the maintenance organization, but the data quality ultimately affects your whole company. Let’s break it down and dissect how heavily poor data quality can affect your organization!
The Results of Poor Data
In an asset-intensive organization, effective and efficient work management requires a deep understanding of the process and skills required, what needs to be done and what constraints are holding back the company. You cannot accurately define these without complete and correct records of your EAM and CMMS data. With incomplete and inaccurate data, you put your work tasks and maintenance plans at risk. You are also poorly allocating the resources that you currently have. The average hours that a technician spends directly performing maintenance activities in many industries is less than 40%. If your data is incomplete and inaccurate, imagine how long they must spend to first locate and verify the information that they need to complete their work and then actually being able to do their jobs!
What Poor Data Can Lead To
As the experienced workers of your company retire, you must fill the gap they leave behind by having a thoroughly documented IT system. These systems provide all the information that companies need in order to support the next generation work force. If you don’t leverage all the information that is required, your company will be infiltrated with incomplete and inaccurate data! Your company will not be able to create comprehensive maintenance plans and strategies, nor will you be able to set best practices for maintenance plans that can be adopted across the enterprise.
Poor Data and Maintenance Costs
With poor quality EAM and CMMS data, comes an increase in maintenance costs. If companies typically spend around 5-10% of their annual revenue on maintenance, think about how much you’ll have to spend if you have to constantly pay for reactive maintenance. Not to mention, reactive maintenance is 2-5 times more expensive than planned and predictive maintenance! What else drives up your maintenance cost as a result of poor data? If your data is inaccurate, it is hard to find critical spare parts, especially when those parts are urgently needed. Your company will also face issues such as having an incomplete preventive maintenance plan and task descriptions.
Fix Poor Data Today!
NRX AssetHub provides asset-intensive companies with a software platform designed to help them quickly and easily identify and repair the gaps and inaccuracies in their asset and maintenance data in their CMMS or EAM systems. Our customers rely on our solutions to help guide them through the complex process of rectifying differences between their physical assets and what is digitally represented in their CMMS or EAM system. In other words, NRX AssetHub is a data-cleansing solution that makes it easy to repair and redeploy the critical data that our customers need to effectively maintain and operate their assets.
If you would like to find out more about how NRX AssetHub can help you easily and efficiently manage your EAM master data, as well as help repair and leverage your broken data, contact us at 1-877-603-4679 or book a demo today!
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