eSSETS Webinar: Analytics for Facility and Asset Management

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eSSETs Webinar: Analytics for Facility and Asset Management (Wednesday, May 29th, 2013) …

eSSETs Webinar: Analytics for Facility and Asset Management (Wednesday, May 29th, 2013)

Asset and facility management professionals are engaged in an ongoing battle of competing priorities; keep costs down, keep assets performing. Analytics, the discovery and communication of meaningful patterns in data, builds on a foundation of accounting principles and can be applied effectively to facilities and asset management. Our most recent webinar in a series geared towards improving facility management systems, guides you through the effective application of data analytics as a tool in reducing costs, making informed decisions, and improving maintenance effectiveness.

In this interactive 45-minute online session, presented on May 29th and titled, “Analytics for Facility and Asset Management”, Paul Roberts, CEO at eSSETS, presented tips for using analytics to assist with decisions that impact you directly. Just as financial asset managers deal with values and risks of securities portfolios, you deal with physical portfolios of property, buildings, machinery and equipment. Elements of this physical portfolio have varying degrees of value and risk requiring identification and measurement leading to volumes of data. Effective analysis of the data, in a facilities management system, can assist with decision making and help with overall goals of keeping assets performing, reducing risk, and managing costs.

Topic discussed include:

- The four basic types of analytics; descriptive, predictive, prescriptive and decisive.
- How these are used in other fields to stimulate ideas on applications in facilities management.
- Real world examples in MS-Excel and how facility and maintenance management software (CAFM, CMMS) contributes to analytics.

About the presenter:
Paul W. Roberts is the founder and CEO of eSSETS. A software industry veteran, Paul has over twenty-years experience working with CFO's and controllers implementing accounting and ERP applications. Paul has designed and developed maintenance management and work order systems deployed throughout the US and Canada.

About eSSETS (http://essets.com)
eSSETS provides cloud-based asset and facilities management software that helps organizations track and manage assets from the convenience of web-browsers and mobile devices. The easy to use software combines asset information with tools for inspections, preventive maintenance scheduling, service requests, warranty tracking, and much more; all with quicker implementations with eSSETS exclusive equipment database. eSSETS leverages the power and convenience of the Internet to deliver maximum functions in minimum time. Gain control, boost efficiency, increase savings, and reduce risks.

For more information, please visit http://essets.com, call +1 417.429.1629 or email eSSETS at info@eSSETS.com.

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  • 1. eSSETSWebinar:Analytics for Facility & Asset ManagementWednesday, May 29th @ 1 pm CDTPaul RobertsCEO of eSSETSpaul@essets.comWeb: www.essets.comLinkedIn: www.linkedin.com/company/essetsTwitter: www.twitter.com/eSSETSFacebook: www.facebook.com/eSSETS
  • 2. Webinar Goals• What is Analytics?• Who is using?• Conceptual overview• FM Framework• Introduce some terms• Show & tell in Excel• Provide at least 1 thing you can use
  • 3. What is Analytics?• Using data to make better decisions• Basic Levels1. Descriptive – looking back2. Predictive – looking forward3. Prescriptive – take advantage of predictions
  • 4. Who is using it?• Wall Street• Law Enforcement• Insurance• Retail• Hospitality• Consulting
  • 5. What functions use it?• Sales• Marketing• Operations• Finance• HR
  • 6. Data First• To analyze data, you must first have data• Systems (CMMS, EAM, CAFM) help yougather data• You are the AnalysteSSETS screen shot
  • 7. Types of Data Examples• When• Where (Place, Location)• What (Asset type)• Activity (work) type• Who – People, Vendors• How Much
  • 8. Conceptual Framework• Dimensions• Measures• Hierarchies
  • 9. Date & Time
  • 10. Where is it?Place provide referencepoint for analysis:
  • 11. Where - is a Dimension w/granularitywithin a hierarchy
  • 12. What is it?
  • 13. Activity Type• Service Requests• Action Listso Inspectionso Preventive Maintenance
  • 14. Who• Who asked for it (requester)?• Who done-ito Your staffo Vendor/Contractor
  • 15. Some Terms• BI - Business Intelligence• BA – Business Analytics• OLAP – Online Analytical Processing• ETL – Extract, Transform, Load• Data Warehouse• Big Data
  • 16. Cluster AnalysisSimulation ModelingRegression AnalysisDescriptive StatisticsPrescriptive(what actionsshould betaken)Prediction(What mighthappen)Forecasting(What mighthappen)Monitoring(what’shappeningnow)Analysis(why did ithappen)Analytic ContinuumHighLowComplexityBusiness ValueReporting(whathappened)Behavioral Questions “Who are my best customers?Where do they live?What is their most likely next purchase?Quantity Questions How much inventory do we need to carry?What stock levels will be left at the EOM?What will Sales finish at this year?Optimal Outcome Questions (potential outcomes based on complex interactions)How can we achieve the best outcome?What is the impact of a cold winter on our business?
  • 17. ETL Walk Through• Extract to csv (comma delimited file)• Open in Excel• Format & cleanse the datao Header rowo Filters• Create Pivot table• Create Pivot chart
  • 18. Q & A• Questions for Paul?
  • 19. eSSETSQuestions & AnswersPaul Roberts:paul@essets.comWeb: www.essets.comLinkedIn: www.linkedin.com/company/essetsTwitter: www.twitter.com/eSSETSFacebook: www.facebook.com/eSSETSNext StepsContact Paul to arrange for demonstration of eSSETS cloud-based facilitiesmanagement software.Thanks to Ray Major, CEO of Halo Business Intelligence for AnalyticContinuum slide - www.halobi.com