There are many reasons why equipment manufacturers should want to access the data from their installed devices. It can help them to provide better, more proactive service and maintenance to their users and customers. It can make them more effective and efficient, eliminating unnecessary truck rolls that result from dispatching unprepared or uninformed maintenance personnel to diagnose problems on-site. It can even help fight against warranty fraud and abuse.
There’s something even more exciting that manufacturers can use their device data for: generating revenue.
In previous posts, we’ve looked at using device data to help sell more service contracts. We have also explored the ways in which better access to device data could open the door to HVAC as a Service, a concept where the device is managed and maintained by the manufacturer for a fee, effectively outsourcing that device’s function to the people that know it best.
There is a much more direct way that device data can drive revenue, it can help position salespeople to sell more devices in the first place. Let’s explore the ways in which a more educated salesforce can move more products and sell more devices.
The right product at the right time
Facilities managers, building owners, and factory operators don’t buy a piece of commercial or industrial equipment because they always wanted to own one. They buy it because it does a job and performs a function. But is it the right device for that job? Does it function like it’s supposed to? The answer to that question could be the difference between selling a new device and generating no new revenue.
By analyzing device data, the sales force at an equipment manufacturer can learn a lot about the performance of a device and if it’s operating optimally. If a device is showing signs that it’s failing or about to fail, whether it be drawing too much energy, signaling motor failure or another red flag, they can reach out proactively to communicate that concern with the equipment owner and begin the process of getting a replacement.
By identifying failing equipment in advance and working to replace it before it breaks, device manufacturers can keep downtime to a minimum. Instead of being the manufacturer whose device broke and stopped an assembly line or otherwise killed productivity, they become the device manufacturer that reached out and replaced the device with a new one in advance of it breaking, keeping the line moving, and keeping productivity high.
It’s not just about devices in failing health; it’s also about devices that fail to do what equipment owners need them to do. If an equipment owner is using a device that is a bottleneck and is pushing that device hard as a result, they could see a significant return on their investment if they replaced that device with something new, faster, better or with higher capacity.
As an equipment manufacturer, if you have access to device data, you should be able to see a device that’s being pushed hard. That’s an invitation to reach out to that equipment owner and get a better understanding of how that device fits into their operations. If it’s a device that is essential but struggling to keep pace or otherwise causing a bottleneck, the investment to replace it with something more effective could very well pay for itself in a very short period of time.
Imagine an assembly line or manufacturing plant, for example. What if one piece of equipment was slowing down operations and reducing the amount of product that could be produced in a day? Replacing it with something more effective or that could handle a larger load could lead to higher outputs, which can help increase their revenue.
Identifying these opportunities is mutually beneficial for both the equipment manufacturer and the device owner. The equipment manufacturer sells a new device and gets that revenue through the door. The device owner gets increased operational efficiency and production, and most likely quickly recoups the cost of the new device, which then proceeds to make them more money over time. This is only possible if the equipment manufacturer can access and analyze the data from its installed devices.