What GIS Means to Asset Management in Energy Industry

What GIS Means to Asset Management in Energy Industry

Energy CIO Insights | Thursday, October 31, 2019

The GIS mapping is proving to be a savior of energy firms, helping achieve excellence in asset management, and thereby optimizing ROI.    

FREMONT, CA: Energy firms are asset-intensive, and assets are the essence of the energy industry. Transmission lines, storage wells, generation plants, heavy equipment, buildings, fleet, technology infrastructure, and others are also a vital part of running a modernized energy utility business. The involvement of several assets makes it challenging for the energy industry to manage them all. Hence, the industry is now looking for ways to get the most out of their assets and maximize ROI. Geographic Information Systems (GIS) has proved to be a game-changer when it comes to asset management solutions in energy industry. Read on to know more.   

GIS mapping involves layering multiple sets of geographical data points for users to view multiple combinations of data on the map, which helps in identifying data patterns. Given that assets in energy industry always have a location base, mapping assets is the most efficient method of logging them. But knowing where the assets are, offers asset managers much more than an uncomplicated geographical inventory. GIS mapping provides many layers of asset data; therefore, it offers better opportunities for an in-depth analysis. Using GIS mapping fosters robust communication and collaboration processes within different teams, given that databases are accessed via multiple devices. This allows multiple organizational authorities to be involved in decision-making.

GIS mapping fuels asset management practices by configuring and accumulating data. Without collecting asset data, energy organizations struggle to strategize their asset management program efficiently. The information that can be gathered from GIS mapping helps energy firms with an accurate estimation on the lifecycle of assets, identifying preventive maintenance requirements, determining risks arising from the breakdown in assets, and proactively prepare for any failures. Overall, GIS asset mapping helps firms visualize trends, patterns, and relationships. From

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 every minor detail about breakdowns or the number of customers affected by an event, GIS mapping helps to reduce operational costs by offering accurate asset information.

GIS mapping helps energy industry to be more operationally savvy. Integration of asset mapping with facility management software, tend to improve facility management and planning practices by being able to visualize spaces, assets, and personnel. GIS mapping’s predictive features also help in work order creation. GIS also improves efficiency in searching for information on space allocation, specific locations of facilities, duplication of work, and adding and modernizing asset data. The primitive monitoring nature of GIS mapping makes collection and access of data quite convenient. This can mitigate costs and increase efficiency. It alleviates the costs connected with assets maintenance schedules, location plotting, tracking, and many more. GIS platforms can also be personalized in ways that helps the energy industry tackle infrastructure repairs and changes more efficiently.  

Energy firms should look for an asset management system that supports the entire integration with the firm’s complete GIS data. This enables energy firms to track all of their assets, guaranteeing that organizations a deep, life cycle level asset monitoring. Capitalizing on the GIS boosts the effectiveness of organizational performance, maximizing the success of the asset management plan in energy industry. Once figured out the need to deploy asset tracking, various assets required, it is time to integrate GIS solutions for the needs.

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