When you are looking at jobs to be completed, there can often be a huge amount of decisions that need to be made and ultimately these decisions can be the make or break for your project. Business intelligence can help you with decision making.
Utilising software can have many positive impacts on any rail project that has been completed. You can use any data that was created using past projects for knowledge building (and see how that previous project was completed vs estimates), you can set several parameters over the project and run simulations against them or even set a different time frame for the work to be completed and see how budgets are effected.
Business Intelligence Software for decision making
Business Intelligence is at the forefront of any software that should be considered when planning projects. Using an application (such as Rail BI), you can be sure that you have the most knowledge and information available at your fingertips.
When you have gone through the initial set of decisions that you needed to make in your project, you can produce a cost estimate to see how your project stacks up against your budget. If you wanted to see how the entire project would be if you scaled the work over 10 years, you can rerun the same calculations with only changing one parameter.
Rail BI allows you to produce business cases and cost estimates with the same platform, the same data, the same calculations you wish to run it against, again and again with unparalleled accuracy.
By choosing the right software, you can see how different versions of your project will run. With a Monte Carlo simulation, you can run your calculations hundreds (or even thousands) of times with the same data and see how predictable different outcomes would be.
Different Options, Different Results
If you wanted to see how much of the budget you could save over the course of the next 10 years, take a look further into the assets in the project and see their upkeep costs over their lifespan. With a central data warehouse that contains all of the asset information, any linked technologies and estimated repair costs over the life of the asset.
Using the advanced cost information (and repair costs associated with newer technologies), you can see how much a new technology install vs repair of older generation technology would cost you over the remaining lifespan of your current assets.
It could be that due to budget constraints, you only have a set amount to spend over the next 5 years. An asset may be more financially viable to repair for this period, then replace with the next generation of technology while planning the next maintenance plans. With Rail BI, you are able to see this information across any asset on your railway route and drill down information as deep as you could ever need.
Using business intelligence tools (such as our rail planning software platform) gives you the confidence to make better decisions, view asset and technology relationships in real time and enhance productivity and efficiency. We can help you get the best results and the correct information every time when producing your business plan and planning forecast.
For more information about our product and to see how using business intelligence can significantly improve your planning for rail maintenance, upgrades and decision making needs, contact one of our team today for a demo of our rail planning platform.