1 month ago by Timothy Cox
Are Analytic Tools Underutilized?
Have you heard about the lane departure warning system? You might not even know it but the chances are higher that it’s there in your car - it’s a warning system developed to alert drivers when they change lane abruptly. The point here is it remains underutilized. Does this ring a bell to you? If you look around, there are so many things around that are underutilized, right from the extra buttons on a TV remote to the health apps on your smartphone.
The scenario is no different for companies in data collection. To make data collection on the field easy and faster, enterprises - especially the ones dealing in the field service management have digitally transformed their operations by eliminating paper forms and documents. But are they using analytics capability for the data they have collected?
Enterprises in HVAC, telecommunication & cable industry, gas utilities, healthcare, heavy engineering, mining, manufacturing, property maintenance, etc. require field service management to a greater degree. Technicians, front-line executives, inspectors, engineers, auditors, field agents, etc. visit the sites to carry their work and then collect the data.
Digital Transformation Through Mobile Form Apps
This data collection usually happens through paper forms, but for productivity reasons, digital forms on the mobile devices are used these days. Teams are able to collect rich data through these e-forms in less amount of time, and ultimately do more number of jobs on the field.
But, what sets apart an enterprise from another is not just the number of jobs that they do, but also what they do with the collected data. Are they really putting it to good use? This is when analytics come into the picture.
It’s a known fact that enterprises using analytics have been able to optimize their operations, make their customers happy, and eventually grow their revenues. If this is as easy as putting two and two together, why are companies still shying away from using analytics capability in full force?
Analytics is All About Numbers
Let’s look at some interesting numbers here:
In a recent study by Aberdeen Group, it was revealed that companies which adopted to analytics technology saw a jump in their profits by around 18%. The SLA performance grew by almost 45%. And most importantly, customer retention increased by 42%.
These are some solid numbers for any business regardless of it’s a construction & repair industry, fleet management, or a facility management company using field service management. Enterprises employing analytics have already seen the results. They have seen real-time accountability and delivered better service, and they are keen to unleash even more of tracking & measuring tools to achieve the operational excellence.
In her book Business Efficiency for Dummies, Marina Martin claims that inefficient processes can cost enterprises 20-30% of their revenues.
No enterprise can afford to overlook customer service in FSM. It is very natural that good customer service often translates to customer loyalty, which in turn means more business. Analytics deployed can give insights on: time taken for the field agent to reach the site, time taken to complete the task, invoice generation, etc.
Companies using mobile form apps to collect data in FSM are focusing more on strategic decisions with the help of analytics. Their decisions are mostly centered around customer-service, and it gives them an edge over other companies who don’t use analytics in the long run.
Imagine that an HVAC company sends 10 different teams on the field every day. Their information is updated through location seamlessly, and dispatch orders have been sent by the field teams continuously. Managers can now analyze in real-time what kind of tasks are taking longer, and also keep a tab on any delays in reaching the place, etc. Corrective actions & prevention actions (CAPA) can always be taken at the right time with analytic tools.
Analytics can offer deeper insights to field managers into their operations. Enterprises are able to cut down on operating costs and enhance efficiency and productivity. Field managers who use analytics intelligently have been able to increase first-time fix rates, cut down on repeat visits and follow-up truck rolls. They know exactly where preventive action has to be taken so that repair calls are a bare minimum.
Driving Optimization Through Analytics
89% of the top-performing companies in field service management are 2.5 times more likely to merge preventive tasks & repair visits to avoid failures and breakdowns in the future.
Enterprises have changed routes for their field teams, add more jobs, assign the tasks differently, etc. All of these decisions seem to be minor, but cumulatively they have a larger effect. Optimization in field operations can be easily achieved when decisions are taken on the basis of analytics.
Enterprises in fleet management have changed the way their fleet operates after the insights they have gained through mobile form app analytics. The real-time visibility that managers gain certainly translates into accountability. Instances where corrective actions are enforced are common for companies using analytics.
According to a survey conducted by Deloitte, 96% of the enterprises feel that analytics will become more important in the next 3 years. 49% of the enterprises claim that the greatest benefit of using analytics is improved decision-making capabilities. 87% of the enterprises feel that analytics have improved their competitive positioning.
Axonator’s Quick Takeaway for You:
When there are numbers and facts, managers feel confident to make decisions. Strategic decisions that are powered by analytics rather than intuition, are more effective in the long run. Enterprises can forecast better with identifying key trends and patterns from the data collected & analyzed. The ultimate goal achieved: operational excellence, elevated SLA compliance, growing productivity, better revenue, & smiling customers.
A Peek into Axonator
Axonator is one of the most trusted mobile form apps that enterprises with field service management use. It’s a multi-device & multi-platform compatible which makes it an app that can be accessed through a variety of mobile devices for data collection using mobile forms, report-making, workflow automation, and decision-making. You can choose an app from our library and customize it easily to match your needs better.
Interested in knowing how Axonator can help you deploy powerful analytics in your business?
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