What is Asset Analytics Software?
Asset analytics software is a digital tool that helps companies manage their assets by providing insights into their performance, utilization, maintenance, and overall lifecycle. Assets could range from industrial machinery and fleet vehicles to digital resources such as software licenses and intellectual property. The data helps companies make better decisions that impact their operations and overall productivity.
Benefits
Industries that rely heavily on assets for their daily operations, such as construction, transportation, utilities, and healthcare, need reliable enterprise-grade systems that will help them prevent operational, financial, and safety complications caused by equipment failure. With advanced techniques like real-time anomaly detection and predictive modeling, asset analytics can deliver the following:
Optimized Asset Performance – Underutilization represents wasted resources. Aside from advanced analytics, asset management systems have features that help the operations team optimize production schedules, track usage across sites, and improve resource allocation for smooth sailing operations.
Proactive Maintenance – When companies ignore seemingly inconsequential defects or slightly inaccurate calibration, the situation can worsen unexpectedly, resulting in complete equipment failures. The software’s real-time monitoring capabilities help relevant personnel identify emerging issues and schedule preventive maintenance tasks that cut down expensive repairs, reduce downtimes, and eradicate associated costs due to possible injuries.
Improved Asset Lifecycle Management – Extending the lifespan of any asset is a considerable goal for many companies to sustain operations and save on costs. By properly tagging equipment, vehicles, and digital tools, managers can track depreciation, calculate costs from acquisition to disposal, and effectively strategize replacement.
Key Features
Comprehensive asset management platforms are designed to have numerous modules for location tracking, resource scheduling, and performance monitoring, among others. Those would be better options than stand-alone solutions, especially for large enterprises. Companies that require only analytics, for whatever reason, should look for these essentials:
Asset Portfolios in Centralized Dashboards
Parts Inventory Management
Real-time Asset Monitoring
Analytics Dashboard with Data Visualization
Predictive Maintenance Capabilities
Asset Lifecycle Management
Alerts and Notifications
Incident Management
Customizable Reporting
Compliance Tracking
Integration with IoT Sensors and Devices
Data Security with User Role Management
Mobile Accessibility with Offline Capabilities
Choosing the Right Asset Analytics Software
Every single software solution included in the list can help companies across sectors make sense of their asset data and be more proactive in managing related workflows. Before making your final selection, take another look at your options in this summary:
Asset Analytics Software | Free Version | Paid Plan | Mobile App |
SafetyCulture | Yes | $24/user/month* | Yes |
UpKeep | No | $20/user/month | Yes |
Fishbowl | No | $329/month | Yes |
InvGate Insight | No | $0.21/node/month | Yes |
ManagerPlus | No | Contact for pricing | Yes |
Ingenium | No | Custom quote | Yes |
VIZOR | No | Custom quote | No |
* billed annually
