3 Steps for Asset Master Data Success
Maintenance is serious business, especially for asset-intensive companies. As an example, without stringent maintenance standards, and regulatory guidelines, the rate of industrial accidents would surely rise. Without properly functioning equipment, production grinds to a staggering halt. In asset-intensive businesses, that can mean millions of dollars in lost income. From safety and precautionary measures to significant cost savings, it is easy to see the importance of effective maintenance.
But effective maintenance is not possible without high quality EAM/CMMS master data. Maintenance personnel need fast access to the information necessary to properly maintain and operate assets. Asset-intensive companies spend millions of dollars each year maintaining the equipment that is the lifeblood of their business. Anything that affects the ability of the equipment run at peak performance has a negative effect on a company’s bottom line. Maintenance costs a lot of money. Not maintaining equipment properly costs even more.
Most asset-intensive companies experience issues with poor quality maintenance data. The problem is not unique. Why do these problems persist? Does the cost of fixing the problem appear to be greater than the cost of living with it? If you are tired of putting up with bad data, how do you go about fixing it? And more importantly, where should you start in order to achieve high quality data that is actually efficient and useful for maintenance personnel to utilize?
We can help. Let’s look at the top 3 steps any asset-intensive company can take to achieve Asset Master Data success.
1. Build Quality Data For Every New Project
Building high quality data the first time is essential to avoid potential problems in the future. NRX AssetHub allows teams responsible for delivering Asset and Maintenance Master Data for new capital projects to work within a single environment to build, visualize, and validate data prior to handover. By centralizing all maintenance records and related data into AssetHub, operators and their contractors are able to measure project completion, report on progress at any state of the data build, and eliminate dependencies on ineffective home-grown solutions. AssetHub also helps drive the prevention of work duplication and allows users to reference existing data, best practices, and knowledge through the power of an integrated Maintenance Library.
2. Standardize & Sustain Data Across All Existing Operations
Engineering, maintenance, and supplier changes can affect the quality of Asset Data after it is placed in production. Sustaining data quality is very difficult and cannot be done in a timely manner using traditional tools or broad-reaching management of change programs. Consequently, post-production data can deteriorate rapidly. As companies experience changes to equipment and processes, existing Asset Data must be able to be updated accordingly. Solutions such as NRX AssetHub allow companies to validate changes to data against both organizational standards and industry best practices. Without an adequate solution to manage these essential processes, companies are prone to large backlogs of unimplemented change requests, expensive manual processes, duplicate requests with no central visibility, and a lack of automated validation against corporate or industry standards.
3. Leverage Asset Data Accessible to Decision Makers Across the Enterprise
Even once a solid Asset Data Foundation has been established it can be very difficult to keep it that way. Asset-intensive operations are constantly changing, and companies who do not have tools and processes in place to update their data as a result of these changes can quickly find themselves faced with many problems. NRX AssetHub allows organizations to address the root cause of costly and inefficient maintenance practices through the structured governance of enterprise-wide Asset Data. With AssetHub, organizations can reduce maintenance costs tied to poor data, control exposure to operational risks, and build repeatable processes and reference points that can be leveraged across the enterprise.
Webinar | Achieving CMMS Data Quality
Join Paul Peterson and David Hattrick as they discuss the effects of bad CMMS data on the maintenance organization. Discover best practices to help you easily find and fix data quality issues.
Brochure | How NRX AssetHub Can Help
NRX AssetHub provides asset-intensive businesses with world-class software for analyzing, visualizing, building, editing, organizing, approving, and sustaining high-quality Asset and Maintenance Data for their Enterprise Asset Management (EAM) and Computerized Maintenance Management (CMMS) systems. Get this brochure to start learning how we can help your organization.
Share this article
- Top 7 Root Causes of Poor Quality EAM Data
- Poor Quality Data Decomposes EAM Asset Reliabilty
- SAP PM Notifications Simplified
- What Good are KPIs when Your Data is DOA
- Top 3 Impacts of Poor Quality EAM Data
- ISO 14224 Alignment With Asset Hierarchy
- The Hidden Cost of Erroneous Work Orders
- Simplifying Equipment Tags
- The Foundation for Operational Excellence
- 3 Steps for Asset Master Data Success