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Every advantage, no matter how small, is important in today's competitive workplace. Can there be such a thing as too much information in this scenario? Certainly, information overload is not helpful, yet when systems are designed and integrated to help decipher the real meaning of any information gathered, competitive advantage can certainly follow. There are a number of companies which fail due to poor business intelligence, attributed to inaccuracies in the process of making decisions. Still more organizations exist, but fail to realize their potential, as they are essentially operating in a grey mist of uncertainty. Each piece of equipment, scattered throughout the organization, is part of the puzzle. Is each asset performing ultimately? Real-time asset management solutions are the only answer, linked to a proactive method of interpreting data. Regardless of how big or small a business advantage would be, it should never be underestimated in the competitive workplace of our time. Can there be such a thing as too much information in this scenario? Certainly, information overload is not helpful, yet when systems are designed and integrated to help decipher the real meaning of any information gathered, competitive advantage can certainly follow. Dissecting data is a process that should never be undervalued. Often, organizations are divided into many different locations, in different geographic regions, subject to a diverse array of external drivers. In other words, any given asset that is in a certain location can be configured to perform based on specific parameters, versus a similar asset that is located in another location. There are also many different kinds of assets, with multiple types of processes that need to be taken into account, and any minor error in calculation or poor judgment will have serious consequences in the long run. Asset maintenance and management should not be left to the vagaries of a manual process, or subject to decisions made by individuals, no matter how experienced they may be. While the strength of the business may well be in its dynamism, asset monitoring solutions should be steadfast and predictable. Equipment maintenance has, for far too long, being mainly reactive and not proactive in the typical organization. While the piece of equipment in question may well have a great track record and be manufactured by a most trustworthy supplier, any number of factors can interrupt its productivity. Without a dedicated asset monitoring solution, unexpected failure can result in expensive downtime and a flurry of nonproductive activity. Business chiefs hate unpredictability. Indeed, this is the greatest enemy. If productivity is less than 100% in real terms, the business starts to lose ground. A system of asset monitoring and alarming should help to reveal problems before they even exist in terms of real impact. Service providers can be summoned whenever predetermined triggers are exceeded. The beauty of real-time and comprehensive asset monitoring is that it provides benchmarks and traceable performance data. Imagine how this could enable the construction of a proactive maintenance plan based on a variety of different scenarios? Asset monitoring will not only help ensure that a piece of asset would be close to failure without any warning, but also helps in cutting down the overall cost of ownership of an asset too. From an expense budget view, service rates are reduced and those expensive emergency callout rates are diminished.
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