Improved Risk Management
Geospatial Analytics Service InSite™ enables facility owners to perform risk management analysis. Risk
is the product of the probability of an occurrence and the impact of the occurrence. Your risk tolerance is
likely to vary from service type to service type, and from one type of asset service to another.
For example, if the probability of failure of a specific type and age of HVAC systems is constant, but the
impact of this HVAC failure in your data center is much greater than the impact of the HVAC failure in
your office or warehouse, then the risk is higher for the data center HVAC system. Therefore, with a
limited budget, you would prioritize a higher frequency of servicing for the HVAC system serving the
data center (to avoid a failure) than for the warehouse HVAC system. While the decision in this example
is straightforward, it is a much more complex exercise when dealing with a wide range of service types
for tens of thousands of assets that support hundreds of different facilities. Sophisticated analytics are
needed to evaluate the data and help form an optimized budget that maximizes the value creation within
limited financial constraints. Geospatial Analytics Service InSite™ enables you to make these and other
critical evaluations based on service provider, asset data, and a risk-informed process.
To estimate the cost savings due to enhanced risk management, you can select a critical function, such
as a call center, data center, or critical manufacturing assembly line. Then assume that increasing the
frequency and/or quality of service avoids an outage of this function for some period of time typical of a
critical equipment failure. You can estimate the outage cost of that failure using past cost data you have
gathered, or by other measures, such as loss of sales.
Enterprise Service Management and Value Creation
A growing number of enterprises are discovering the value of an enterprise service management program.
By creating a strategic approach to services, facility managers can reduce cost and risk. Many companies
have experienced 3-6% savings to their budget within the first year of implementing a program. The
program will continue to yield benefit year-over-year, and will be a significant driver of value creation for
your organization. the first year of implementing a program. The program will continue to yield benefit
year over year and will be a significant driver of value creation for your organization.