Unleashing the power of your FM data goldmine

Data, analytics, business intelligence (BI), and artificial intelligence (AI) are transforming facilities management. The availability of data, advancements in algorithmic power, and the competitive advantages of deep insights and faster decision-making are driving the popularity of BI and AI. In this article, we’ll explore the role of data in facilities management (FM) and how it can revolutionize the way you manage your facilities. 

Data, the undisputed king

Facility managers rely on software, like a computerized maintenance management systems (CMMS), to access historical operational data. A CMMS holds a mountain of data. The challenge lies in extracting meaningful, actionable insights for faster and better-informed decisions. Analytics powered by BI and AI accelerate those insights. 

The historically difficult decision to repair or replace aging equipment becomes much easier when the decision is data-driven. A director of facilities management for a nationwide grocery store chain recently told JLL that he can make that critical decision simply by scanning an asset tag on an aging or high-maintenance piece of equipment, like a refrigerated food case. His mobile app calculates the ratio of reactive repairs to equipment replacement cost while factoring in remaining useful life. The data reveals the best course of action, and a repair-replace decision is made on the spot right in the aisle, avoiding hours of research, spreadsheets, and equipment manuals.     

Corrigo customers have seen a 98% improvement in the ratio of reactive maintenance to preventive maintenance during the past five years. The strategic use of data is the key, enabling deeper insights into operations down to the asset level. Furthermore, Corrigo customers have become more productive, with a projected 21 million work orders completed in 2024 —a 17% YoY increase—at a projected record-breaking work order spend of $7 billion.  

The power of BI for insights

BI and AI play a crucial role in delivering data-driven insights. Corrigo simplifies access to the data through easy-to-understand, visual BI dashboards giving a high-level view of operations. A new Corrigo AI chatbot will go beyond automated intelligence to provide recommendations for predictive maintenance, essentially fixing problems before they occur. AI is empowering facility managers to  capitalize on opportunities and minimize costly missteps. Best practices in leveraging a CMMS, such as ensuring data accuracy and configuring asset trees correctly, influence the prescriptive and predictive recommendations delivered by BI and AI. 

BI's power lies in its ability to transform raw data into actionable insights and recommendations. With sophisticated algorithms and real-time updates, BI provides early warning signals for asset failure, allowing for swift, corrective action, thereby enabling FM teams to be more efficient. BI also helps identify aging assets, maintenance or energy “hogs,” and creates multi-year capital replacement schedules. The latter helps facility managers anticipate future capital budget needs and allocate resources efficiently.  

AI for automation and predictive maintenance

AI simulates human learning, reasoning, and problem-solving. Machine learning, a subset of AI, learns from data to generate recommendations that improve over time. Corrigo AI is designed to offer real-time access to CMMS data and will engage with the facility manager based on language prompts on how to improve operational performance, vendor relations, and lifecycle asset management decisions.  

AI goes beyond automation and predictive maintenance, optimizing resource utilization by scheduling maintenance during off-peak hours or when equipment is not in use. It minimizes disruption to daily operations and extends the lifespan of assets. AI can also provide proactive alerts, warning of potential budget overruns and recommending cost-saving measures. 

AI for widespread adoption

AI is a new technology with seemingly unlimited potential. Still, facility managers, who necessarily focus more on saving than spending, will insist that it prove itself before widespread adoption takes off.  

A soon-to-be released survey conducted by JLL Technologies for the facilities management (FM) industry found that 58.6% of respondents had not yet developed an AI strategy for their FM programs but were interested in learning more. The next group of respondents at 10.4% said they were already using AI on a regular basis, often for reporting and analytics.  

JLL’s Corrigo customers run the gamut from early to late adopters. A wait-and-see approach is common. But when a technology proves itself by delivering a positive ROI or adequate time/cost savings, facility managers then have the justification and confidence to propose a new software purchase to leadership. 

The exciting future of data-driven FM

As facilities management evolves, visibility into operations and actionable insights will drive greater efficiency, yielding more time for higher-value FM work and greater productivity—completing more work orders. By harnessing BI and AI technologies, facilities managers be able to automate repetitive tasks, streamline daily workflows, like invoicing, and payments, optimize resource allocation, and make confident, proactive, and data-driven decisions.  

Embrace the power of your data and explore the advantages of JLL's BI and AI capabilities for facilities management at www.jllt.com/corrigo/