Even the smartest IoT technology available is not useful if it cannot be used to help predict assets’ maintenance needs, reliability, and how they should function in conjunction with other pieces of equipment in the larger ecosystem. That means the master data loaded into any system of record as a digital representation of those physical assets needs to be flawless – or your city/state/government will run into some major issues (and costly expenses).
Here's the Top 5 challenges we see as a result of poor quality, inaccurate data:
- Transportation delays due to inadequate road, rail and signaling maintenance resulting from inadequate preventive maintenance, protracted maintenance schedules and poor visibility into an asset’s lifecycle.
- Excessive water, electricity and air-conditioning costs due to operational inefficiencies, leading to high inventory and operations costs and increased downtime from equipment failure. This can lead to process disruptions in the integrated city infrastructure, which require more manual rework and lead to decreased asset utilization.
- Safety issues caused by equipment failure and poor product quality.
- Greater risk of non-compliance, which creates legal liability and raises the specter of regulatory crackdown.
- Higher IT costs due to integration of disparate information sources; inaccurate IT resource planning; and business inflexibility.
Want to learn more about how bad data impairs aspiring future cities?