11:0011:20 01. Jun 2022
11:0011:20 01. Jun 2022
Retail Technology Stage

The Future of Facilities Management with IoT
Rich Repair, Maintenance Data and Machine Learning.

As multi location retailers continue to embrace Digital Innovation, we have seen that Data has become fundamental to every part of the business. An area that has been quickly coming to focus, which has been traditionally overlooked is facilities technology. Historically, companies have relied on either a ticketing system or their third-party facility partner technology (also a ticketing system) for support, and this has meant no data ownership. Today, Companies are embracing Facilities Digital Innovation. The data captured allows them to become smarter and proactive where uptime becomes the norm.

In the past, facilities management has been mostly a reactive function - fix things when they break - with some preventative maintenance programs but with lack of visibility as to whether those programs are occurring.  Now with the capture of data, automation of processes, IoT and connected assets, facilities teams can detect when assets are starting to fail and dispatch technicians before too much damage is done.
In the future, the retail industry will apply machine learning for example to IoT signals, combined with historical repair and maintenance data, to achieve 100% asset uptime. Similar to how Netflix might recommend a movie based on your viewing history, facility management systems of the future will bring together asset performance and repair data to drive maintenance decisions and peak performance.