Data is the new currency for field service

Data currency in field service is starting to generate big dividends for companies that can take advantage of its benefits.

A decade ago, Clive Humby, mathematician and one of the world’s data pioneers claimed, “Data is the new oil.” His perspective? Like oil, data isn’t valuable on its own but is transformed when gathered, connected, and refined into information used to take action and make informed decisions. If your organization can harness the power of field data currency in this way — get ready for numerous benefits to rain down like a geyser of Texas tea!

Data currency in field service is starting to generate big dividends for companies that can take advantage of its benefits.

Knowing how vital data is within field service, it was one of the primary topics covered in a panel discussion at our 2021 Field Service Trends IdeaShare event. Read on to discover why data, not Dogecoin, is considered the hottest commodity on the market for field service success.

Field service data is the new currency

Much like Humby’s analogy of data being the new oil, Karin Hamel, VP, Services for Digital Buildings at Schneider Electric believes data is the new currency. We couldn’t agree more.

Hamel shared how as consumers, we’ve been conditioned to expect to be informed every step of the way. Think of the positive experience of watching a delicious pizza make its way to our house or seeing the movement of an important package we’re tracking. Customers have greater transparency than ever, and it’s now a requirement rather than an added feature with data currency.

Data currency in field service is starting to generate big dividends for companies that can take advantage of its benefits.

As for examples specific to field service, Hamel spoke to the value of providing customers with visibility into their service contracts, upcoming maintenance, information on the age of their equipment, and self-scheduling opportunities.

What this means for businesses is clear for Hamel, who believes an informed customer feels like a valued customer. In turn, they are a better customer for their company. Giving them access to data saves time, is efficient, and can reduce energy consumption and other associated costs.

ProntoForms’ VP of Operations, Aly Mawani spoke to how data enriches the customer’s experience. Regardless of whether the interaction is remote or face to face, he believes data empowers awareness, puts the customer at the center, and makes the experience a collaborative one. Being empowered in this way ultimately delights customers.

Strike it rich with data

Since data is the new currency, having a tool to visualize and present this information is critical. Without it, you may be missing out on important opportunities. Mawani shared how investing in technologies driven by real-time analytics solutions and having a platform that’s extensible through a mobile application will position a company for success.

He believes in the benefit of investing in a CRM that allows field technicians to have a complete view of a customer before they arrive on site. Giving customers the chance to make real-time changes while a tech may be on route using geomapping will drive efficiency in a technician’s workday. Having this kind of access will enrich the customer’s experience as well as increase the overall well-being of the technician.

For a deeper dive into how to get started with data currency, we highly recommend this article from Field Service USA titled, Your Big Data Strategy for Field Service. This blog post speaks to the value of using mobile devices to collect data and leveraging analytics to make sense of the information collected from the field.

Conclusion

Want to learn more about how to advance your digital transformation strategy? Feel the pull to invigorate the experience your customers and technicians have with your company? Pull up a chair and check out the recording of our 2021 Field Service Trends IdeaShare panel discussion. It will be time well spent.

Related articles
 
 packshot
Drive better business decisions with ProntoForms’ field service analytics
 
 packshot
What are automated HVAC installation and maintenance checklists?
 
 packshot
How to become a data-informed citizen developer