Data standardisation refers to using consistent methods for collecting data, although this is a very basic and somewhat generic description of what it truly is. If we delve in deeper, data standardisation is the process used for transforming data to fit a constrained and predefined set of values – ultimately, relying on uniformity to improve efficiencies.
The importance of Data Standardisation in the Property & FM sectors
Data standardisation refers to using consistent methods for collecting data, although this is a very basic and somewhat eneric description of what it truly is.
If we delve in deeper, data standardisation is the process used for transforming data to fit a constrained and predefined set of values – ultimately, relying on uniformity to improve efficiencies.
But why is this important from a property and facilities management perspective? Why must property and facility managers be aware of what standardising data collection is and why it matters? What benefits can they expect in doing so?
What is data standardisation?
The entire standardisation process focuses on collecting and reporting data in a more efficient way.
For example, if you run a property or facilities management business and are dealing with multiple locations, keeping track of every asset’s various maintenance needs can get quite challenging.
However, if you standardise records across all the sites by using a specialised software or app that allows you to conduct extensive property audits, and inspections, and then create reports – you’ll immediately get a bird’s eye view of which assets are being worked on at any point in time and which ones require maintenance in the coming days or weeks.
Let’s go over a practical example to demonstrate the above:
Maintenance record format – All maintenance records, no matter what their type or location, can be standardised to follow a set format within the inspection app or software. The format may include fields like materials used, hours spent, personnel involved, maintenance date, and job description.
Understanding the importance of standardisation in property & FM
Standardising data collection is important for several reasons. If we talk about maintenance alone, for example, it can help you make vastly better decisions by ensuring that all your data is consistent and accurate at all times. This can be very helpful when multiple personnel are working on the same project – it ensures that everyone has access to the same real-time data at any given time.
Furthermore, standardisation lets you analyse data in a far more efficient and effective way – fewer variables are involved as you acquire information from various sources, which means you can potentially save a lot of time as you collect information instantly – as opposed to analysing the significance of the data you collect down the line and then try to make heads and tails of what happened during a specific inspection.
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When an economic shock or recession hits, all properties are impacted. However, commercial properties must bear most of the brunt because a lower demand in the building, sale, and letting of commercial properties means that businesses cannot function as effectively and contribute to the economy as they normally would.
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