Here’s Why Predictive Field Service Management Will Become Reality in 2018
The Field Service industry is going through a growth spurt. The size of the field service market was $1.78 billion in 2016, and according to fresh statistics, it is estimated to increase up to $4.45 billion by 2022. Companies are being compelled to part ways with the manual processes and are increasingly embracing faster and more efficient processes with help from latest technologies and trends. Field Service Management software in this day and age are traditional and unyielding if they have no Machine Learning, IoT, or analytics capabilities. Without these technologies, it is hard to achieve automation and field service management companies care a lot about automation today!
With the rapid change of events and breakthrough technologies being at the focal of these changes, a predictive field service management software is not a far-off reality.
Predictive Field Service Management – The Nitty-Gritty of the Concept
Predictive Field Service Management has been imaginable and perceivable even as an idea because of the immense potential in the Internet of Things technology. With IoT, it is possible to create a predictive field service management software that will forecast the need of service at various service locations and will help field service providers gauge the need for services well in advance.
The integration of IoT into the field service domain will lead to groundbreaking innovations. When devices are connected to the Internet and each other, sensors can be implanted into these devices that can work to send crucial information such as alerts and warnings to the master system which can be the field service providers’ device.
When these device sensors connected through IoT sense the need for some maintenance or support in the device, they will prompt the service provider to arrange a field service operation, without bringing it to the knowledge of the customer. This will ensure that the customer stays satisfied and out of the loop where field services are concerned. A prompt and responsive delivery of services will lead to better customer retention and increased customer satisfaction.
Predictive Field Service Management Is Set To Become A Reality
This year, technologies in the field service management space are bound to ripen. Implementation of trends such as Analytics, IoT, Machine Learning, AI, etc., will mature as the buzz in these words dies out, and things get back to ground level. Here are some reasons why Predictive Field Service Management is bound to become a
Demand for Quality Service –
Customers do not want companies to fix things when they break. Instead, they want companies to fix things before they break. This demand for proactive and predictive field service is one of the most significant reasons that space is moving towards the trend at an accelerated pace. Moreover, customers demand a better quality of service and a minimized downtime of their equipment. Mobility in field service is another aspect which customers want companies to work on. According to a survey, about 33 percent of customers will not buy from a brand again when they have a had a bad brand experience on mobile.
Field Service Lags Behind –
The field service space is not as booming and buzzing as the rest of the industries. Organizations are in a frenzy to modernize their services, owing to the need of the hour. In 2018, most companies will focus as much on the customer experience or services they deliver as they do on the products they sell. Smart devices and latest technologies will prove to be the ladder for this growth and change.
The Competition is Skyrocketing –
Today, companies are realizing the need for predictive field service as customers demand fewer equipment breakdowns and quicker resolutions. As businesses try to focus on delivering exceptional field service, other companies will follow the path too, leading to the faster adoption of the predictive solutions and technologies in the field service management space.
It would have been hard to imagine predictive field service without these technologies, and since IoT and ML are employed in businesses today to create solutions and software, it is feasible, and the only viable path to move towards predictive field service.
Data and Analytics Are Available –
Predictive capabilities are unimaginable without the right data. With a host of databases containing the right data and a series of analytics on the data only, we can predict the need for field service in any device or location. Accountability, Planning, and Optimization are all possible with the right use of data and analytics. With data visualization tools, capture, and processing technologies, and other such platforms, companies will be able to make massive leaps in predictive field service management.
The future of field service management will soon become a reality and organizations will double down their efforts, and thus their profits, while leveraging technologies for creating predictive field service software.