5 ways to use GIS for Asset Management

Unlocking the Power of GIS for Asset Management: 5 methods of optimization using Geospatial intelligence

Those who work in the Asset Management field know how important it is to easily locate their resources, obtaining reliable information about their conditions and performance, instantly.

All this, however, becomes difficult when the assets to be managed are excessively numerous and located in different geographical areas more or less distant from each other.

Using a facility management software, combined with GIS (Geographic Information System) technology, can offer you a powerful system to map resources location and record all operational data.

If you’re unfamiliar with this groundbreaking technology or simply eager to learn more, this is your gateway to discovering its myriad uses and undeniable advantages of the integration between GIS and Asset Management.

What is GIS Asset Management?

The term GIS Asset Management refers to property management processes focused on the use of geographic information systems, commonly known as GIS.

As we already know, Asset Management represents a set of activities aimed at managing an organization physical resources during all phases of their life cycle. This in order to meet the strategic objectives previously set by the company.

Different types of assets can be part of the company assets, including properties, goods, plant systems, machinery, equipment and so on.

In most cases, these resources are not concentrated in a single place but distributed over a rather large geographical area. They are also widely diverse or numerous that being able to localize, manage and monitor them becomes a very complex task to be developed with traditional methods.

Therefore, there is more and more room for the opportunity to resort to GIS systems in order to reduce the complexity of dealing with Asset Management that normally characterizes these processes. Let’s find out why this technology is so important in the field of resource management and how it works.

What is GIS Mapping?

GIS mapping is the process of creating and storing data on a geographic map for subsequent analysis, processing and data querying. The term GIS refers specifically to the IT tools through which this process can be implemented.

The main objective of GIS mapping is to “georeference” data. GIS systems allow BIM-GIS users to record any type of information and integrate it with its relevant spatial position.

The GIS data are, therefore, characterized by two essential components:

• a spatial component that serves to identify the object or element’s position in space together with the recorded data;
• a descriptive component that aims to provide additional information with respect to spatial requirements, helping to characterize each element both qualitatively and quantitatively.

GIS data features

The importance of GIS in asset management

GIS technology has become essential in many sectors offering a significant contribution especially in Asset Management. It therefore helps solve inefficiencies that have always characterized resource management and maintenance processes.

One of these drawbacks is related to the difficulty when identifying an asset’s exact position or when they are too numerous and/or distributed in different places.

As we have seen before, GIS offers the necessary tools to create and return geographically referenced information that ensures faster and more efficient localization of resources.

But the usefulness of this technology does not end with the provision of simple location information.

GIS are able to associate additional attributes with the spatial data of a given element. Which can be stratified and displayed in different combinations to facilitate the process of understanding.

They also allow you to collect, manage and analyze information in relation to resource conditions, equipment performance, required maintenance strategies and any other issue that can help asset managers to optimize their work.

What are the advantages of GIS in Asset Management

For many years, companies and organizations in every industry have wasted time and money due to inappropriate resource allocation and mismanagement resulting in slow productivity.

Thanks to the use of Geographic Information Systems today we easily address these specific requirements:

• simplify asset localisation processes;
• improve the efficiency of field operations;
• store and manage data more effectively;
• reduce time and costs required for the resource maintenance management;
• get a visual representation of data therefore improving the understanding of insights;
• integrate heterogeneous data into a single map and derive models, interactions and trends;
• create the basis for informed decision making processes.

5 Ways to Use GIS in Asset Management

GIS systems offer powerful analytic and visualization capabilities turning out to be essential in numerous asset management industry applications. They can be used, in particular, for:

1. mapping the location of resources: GIS systems have the ability to associate specific references to any element, identifying their location. They allow dynamic resourse tracking and asset geolocation. For example, plant systems, equipment, means of transport, workstations, computer equipment, etc.;
2. managing maintenance activities: in addition to locating all types of equipment with the great simplicity, with GIS maps it is also possible to identify resources in need of repairs or maintenance. By integrating specific GIS data, it is also possible to trace the root cause of the problem;
3. monitoring asset performance: thanks to recording and displaying any type of information, GIS are an indispensable tool when tracking and monitoring equipment performance and operating conditions;
4. tracking work orders: with an adequate GIS infrastructure, asset managers can keep track of all work order updates. As well as viewing and monitoring technicians and operator performance therefore identifying potential areas for improvement;
5. managing inventories: item data location provided by GIS systems can leverage inventory strategies, improving and organizing warehouse space more efficiently.

GIS asset management uses

GIS Asset Management unlocks the full advantages of using GIS systems to automatically record, update and view asset location data. On the other hand, a Facility Management software, capable of working in a BIM environment, enables dynamic access to property, plant systems and maintenance data shown on 2D plans or 3D BIM models.