Regardless of which asset-critical industry you work in, downtime can be extremely costly. According to a recent study, the average cost of equipment downtime for large industrial companies can be up to $25,000 per hour. And that’s just the financial loss. When customers are expecting a timely, reliable service and don’t receive it, they may go elsewhere or leave with a negative impression of your brand. On top of all this, emergency repair costs can be through the roof. While downtime can’t truly be stopped from ever occurring, there are steps you can take to lower the chances and save your bottom line in the long run. This is where real-time data comes in.
Real-time data enhances decision-making
Real-time data analytics give you immediate visibility into equipment performance. This means technicians and managers can make faster, more informed decisions without waiting for issues to escalate. Live data tracks performance metrics, spots any deviations or irregularities, and with this data in hand, you can act quickly to address a problem before it leads to downtime.
With a system like mendrhub, all of this data is available from the user portal. It offers instant insights from your data so that decisions about resource allocation, service provider dispatch, and prioritisation become clear and simple. It’s these kinds of quick, data-driven decisions that will ultimately help you avoid unnecessary downtime and keep equipment operating as your customers expect.
Real-time data supports proactive maintenance
Proactive maintenance is the single best way to reduce downtime. By constantly monitoring your equipment, any potential performance issues can be caught and addressed long before they cause a breakdown. Real-time data is the brains behind this, allowing you to schedule regular, proactive repairs – reducing the risk of costly disruptions and your equipment failing.
Proactive maintenance will also help your equipment last longer, as when potential faults are caught early, technicians can address them before they turn into major problems. In the long run, this means fewer emergency repair callouts, less downtime, and a longer lifespan for your equipment.
Real-time data improves efficiency and cost savings
The benefits of real-time data don’t stop at a smoothly running machine. When utilised correctly, you can optimise your entire service operation. By monitoring equipment performance, you can organise your technicians better, ensuring the right person is sent to the right job, at the right time. With mendrhub, you can even optimise technicians’ routes with our clever automations, which calculate the most efficient route to each job – saving your technicians time and saving you excess labour costs.
In addition to this, real-time data will save you from costly equipment breakdowns. Without the data to show you what’s happening on the inside, you likely won’t know your machine is going to break down until it’s too late. By then, you’ll be footing the bill for emergency repairs, lost revenue from the time spent having it repaired, and potentially overtime costs, penalties, or fines. With software like mendrhub easily able to prevent this, an investment in real-time data can quickly pay for itself.
In this day and age, the flow of data is a crucial component of equipment servicing. No business or company that relies on operational equipment should be without it. From enhanced decision-making, to proactive maintenance, to efficiency and cost savings, the ability to monitor your equipment in real-time is going to keep your assets running smoothly and ultimately keep you ahead of the competition. Talk to a member of the mendrhub team about how real-time data can transform your business today.