The Power of Good Data

Posted by Ashley Little on August 22, 2017

dataWhy is it common for a provider to require several months (or more) to respond to a permit to attach request? Often, poor data is to blame. Owners may not be able to readily access the last time a safety inspection was performed, what condition the asset is in, or what attachers may be on it. It can take a lot of time to send someone into the field to answer these questions.If the necessary data were easily accessible, responses to any type of request could be issued in days or weeks instead of months. Permit to attach processes could be significantly shorter, and the number of illegal attachments and safety hazards would go down.

This is just one example of the power of good data.

Good Data Enables Informed Decision-Making
We all know that strong data informs useful business intelligence. Service providers can make successful decisions to help create new revenue streams, expand business lines, and save costs based on high quality data and interpretation.

Consider a company planning to expand beyond their current territory: they are empowered to make an informed decision on which direction to focus expansion once they have the right data. They can use data about current population and projected growth, broadband use and area availability, existing utility poles or underground conduit, and who owns the infrastructure assets.   

Good data can mean the difference between successful growth and damaging mistakes.

Good Data Means a Safer and More Reliable Plant
For example, when a contractor goes into the field to perform pole inspections or conduct a pole transfer, are there safety hazards he or she should be aware of? Does the pole have too great a load, or is it damaged due to rot? Are there illegal attachments that could be unsafe?

Providing contractors, attachers, and other relevant parties access to specific data about joint use assets can help increase plant safety and prevent unexpected outages.

Good Data is More Powerful When Shared
Another example: one department within a company goes out to the field to conduct an inventory. They collect data and store it in their own private files, databases or spreadsheets. For a variety of reasons, that same valuable data is not shared with other internal departments, requiring those other departments to conduct their own data collection. Both internal groups collect the same data sets, wasting significant time and double-dipping into company budgets.

A more efficient solution is to collaborate and share the data. What asset data or attributes would be beneficial across a company? This question can and should be answered. A centralized, shared asset database provides a secure means to share asset data both within a company and with external parties. It allows varying levels of permissions and control, ensuring that people can only access the data that you want them to see.

Good data is a valuable tool for any business. And its value only becomes greater when it is shared.

Learn more about how you can make the most of your asset data by downloading “5 Requirements of a Centralized Asset Database for Infrastructure Management”.

 

5 Requirements of a Centralized Asset Database for Infrastructure Management
Tags:
Asset Data Management

Comments