LONDON--(BUSINESS WIRE)--Quantzig, a premier data analytics and advisory firm that delivers actionable analytics solutions to resolve complex business problems, has announced the completion of its recent asset management engagement. This success story sheds light on the ways to improve business processes and enhance return on assets in a highly competitive and rapidly changing environment like the engineering and construction sector.
Asset management helps in identifying and managing risks that arise from the utilization and ownership of certain assets. Request a FREE proposal to know how we can help you with asset management.
An organization’s return on assets indicates the success rate by comparing the net profit with the total assets. The return on assets percentage can give an overall idea of how the organization is utilizing and managing their assets. Every business needs to keep track of their assets for the relevant stakeholders to know what assets are available and what can be used to provide optimal returns.
There is no doubt that embarking on an asset management journey can be an immensely tough. Contact our analytics experts to gain better insights into our portfolio of asset management solutions, specially curated for the heavy engineering industry.
“By keeping tabs on a company’s assets throughout their life cycle, businesses can improve their technique of acquiring and using assets,” says an advanced analytics expert at Quantzig.
The Business Problem: The client is German engineering, construction, and manufacturing conglomerate with global operations. They were facing challenges with implementing an asset management plan to enhance the efficiency of their operations. This German engineering and construction conglomerate was frequently losing track of misplaced and stolen assets. They wanted to improve their asset tracking system.
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The Solution Offered: In this initial phase of this collaboration, Quantzig’s experts identified the primary factor for ghost assets. Our asset management experts harnessed data from every available sensor and helped the client to create a time series modeling using predictive maintenance. The devised time series model also helped in identifying the assets that were at the maximum risk to malfunction.
Quantzig's asset management solutions helped the client to:
- Enhance return on assets by 85%
- Devise an asset tracking plan
- Improve accuracy of expenditure forecast
- Optimize asset usage
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal