In today’s data-driven world, organisations rely on vast amounts of asset information to make strategic decisions. Yet, a nagging fear remains – can you trust your data?
Imagine a healthcare provider managing dozens of hospitals, each with its own disparate systems and inconsistent data structures. How can leadership gain a clear, unified understanding of asset health, operational efficiency, or even basic maintenance requirements across the entire organisation? The answer, often, is they can’t.
The consequences of unreliable data in enterprise asset management (EAM) are severe: poor decision-making, unexpected failures, compliance risks, and wasted budgets. The challenge of managing asset data effectively has never been more urgent.
The danger that lurks
At the heart of this issue is data inconsistency. Many organisations struggle with fragmented, unstructured, and siloed asset information spread across different systems, departments, and even paper-based records. The result? A lack of trust in the data that drives critical decisions. In an era where digital transformation is imperative, bad data is a silent killer in industry.
A global challenge: Infrastructure and asset data management
Globally, infrastructure management is facing a reckoning. From aging power grids to complex industrial facilities, organisations are struggling with data sprawl – millions of data points scattered across spreadsheets, disconnected EAM systems, and unstructured databases. This makes it nearly impossible to make informed decisions with confidence.
The fear of making the wrong decision due to bad data is real – and justified. A maintenance strategy built on unreliable asset information can lead to catastrophic failures, regulatory fines, and reputational damage. The only way forward is to ensure that asset data is consistently structured, centrally managed, and accessible when and where it is needed – in realtime.
The data headache that won’t go away
According to the Verdantix “Green Quadrant: Asset Performance Management Solutions 2024” report1, over 75% of industrial firms face significant challenges with data integration, particularly when merging information from legacy systems. Additionally, 78% of firms struggle with improving data access for collaboration with subject-matter experts, and 43% find managing and enhancing data quality to be a substantial hurdle. These pervasive issues underscore the widespread difficulties organisations encounter in achieving consistent and reliable asset data management.
The problem isn’t just the data itself – it’s the lack of structure
Most enterprise asset management (EAM) systems store data, but they fail to organise it in a way that scales. The key to reliable data is structure. Without it, data becomes fragmented and inaccessible, creating mistrust in the system.
The need for structured, reliable data
The recent Verdantix Green Quadrant EAM Software 2024 report highlights that organisations with structured asset data gain a competitive edge. This is where On Key – Pragma’s enterprise asset management software stands apart. On Key has been recognised as a Leader in Enterprise Asset Management Software, particularly in Information Management, where it scored an impressive 2.5 / 32.
Unlike many traditional EAM systems that passively store data, On Key actively structures data at scale, ensuring that organisations have a single source of truth for asset information. This structured approach eliminates redundancy, improves data integrity, and enhances decision-making.
According to Dirk Janse van Rensburg, Head of On Key Software Solutions, the key differentiator is On Key’s ability to structure asset data in a way that is centrally managed and scalable. “Many organisations struggle to trust their data because it’s scattered and inconsistent,” says Dirk. “On Key brings order to the chaos, ensuring asset data is clean, organised, and actionable in realtime.”
With On Key’s structured data model, organisations gain:
- A single version of the truth – no more duplicate or conflicting records
- Scalability – the system grows with your asset portfolio while maintaining data integrity
- Data-driven decision-making – analytics and AI tools can finally rely on clean, structured information
Building a data-driven future with On Key
As a leader in the EAM industry, On Key is tackling the data trust challenge head-on. By delivering structured, scalable, and intelligent data management, organisations can shift from reactive maintenance to a proactive, data-driven approach in managing their enterprise assets.
The question isn’t just “Do you have data?” The real question is: Can you trust it?
To learn more about On Key EAM and the On Key product suite, visit www.OnKey.com.
1 Verdantix, Green Quadrant: Asset Performance Management Solutions 2024
2 Verdantix, Green Quadrant: EAM Software, October 2024