If repair, maintenance, ownership costs, and accurate meter readings are diligently recorded for each piece of equipment, a company can actually predict, rather than guess, their equipment lifecycles and optimal returns on investments. Creating historical data on the cost curves for owning and operating heavy equipment allows much more informed decisions about when to invest more in their fleet or when certain machines should be sold. Contractors can avoid the common problem of waiting too long to replace a piece of equipment. Using more informed data and metrics to create equipment benchmarks, they know when a machine will become more expensive to keep than it is worth.
Today’s information and decision-making are not the same as they used to be. The last 50 years of business technology have developed at an astounding pace—so quickly that it is hard to keep up. Download this industry white paper to learn more about the history of business intelligence and how it will be evolving in the future.
For a number of years now, there has been a lot of talk about collaboration, which has become a marketing buzzword and less of an idea of team unity. The problem with collaboration, like other words, is not the word itself but how it has been used. Collaboration, used as jargon simply offers no concrete examples of how we can effectively work better together.