The 5 Reasons Why Web Video Is the Most Economical Tool Your Company Can Use to Increase Profits

This is the Age of Video. Not only is it everywhere, but technological advancements make it look amazing. Using only a cell phone, video can be captured and uploaded onto YouTube instantly…and people are watching it by the millions. Video and the internet make perfect partners, allowing anybody in the world with something to say, to broadcast the message widely.

Astute corporations are also utilizing the power of online video to stand-out in the marketplace, with videos produced exclusively for their websites. Although video can be shot with an ordinary cell phone, an organization would be wise to leave that job to a professional video production company with years of experience. Companies will find that polished and targeted web videos deliver incredible return-on-investment and are the cheapest and most effective marketing tool they can employ.

Here’s why:

1. 24/7 INTERNET: In the past, a television commercial was the only platform a company could use to speak to potential customers using the power of moving imagery, music and voice. The process of creating the ad and buying air time was astronomically expensive and thus, only the biggest companies could afford to do it. Despite the massive expense, TV commercials are highly limited for many reasons, the biggest being that they are only 30 seconds long. Now with PVRs, many television viewers simply fast-forward through the commercials entirely.

The great news is that online video offers all companies more bang for the buck than a TV commercial ever could. Web videos can be any length (although shorter is always better), cover a series of topics, and are free to be played over and over on a company website.

2. POWERFUL MEDIUM: Web Video is an “engagement object”, meaning that it can reach and captivate countless new customers, prompting them to make buying decisions just by watching! Having web video on your company website increases the conversion rate (the rate at which a potential customer decides to become an actual customer). This important consumer decision is made off-site in the prospect’s home or office, not in your place of business. A good video captures the hearts and minds of potential customers and converts them into real customers.

3. CUTS OUT OTHER EXPENSES: Web Video can save your company money in other departments! One how-to video or a series of instructional videos can save your company a fortune in payroll expenses by reducing the need for live customer service support. Printed manuals and instruction sheets can be reduced eliminated entirely with online video which can be watched indefinitely by countless customers on the company website.

4. COMMUNICATE DIRECTLY WITH CUSTOMERS: In the past, products that needed to be demonstrated also needed a costly sales force to travel into the marketplace do the demonstrating. A single web video that demonstrates the product puts an end to that on-going expense. A demo video also allows potential customers to familiarize themselves with the product from their own personal computer at home.

5. BUILDING RELATIONSHIPS WITH CUSTOMERS: A good video is excellent at building brand and awareness for a company. Superior to a print campaign, video has a “human touch” and allows viewers to see, hear and perceive a company’s message on many different levels. A professional video production company can work with your organization to build web videos that not only effectively promote and market but also position the company as a friendly expert in the marketplace. For example, an Indian restaurant may consider doing a series of cooking web videos in the kitchen with their head chef. Not only does it showcase the wonderful food and show the fresh ingredients prepared with care, but it also provides free, useful information that the customer can take away.

The possibilities of web video are endless and people are watching videos online in greater numbers every day. Web video has the power to transform your business and attract new customers from far and wide. Be sure to consult with a professional web video production company to ensure your video brings out the right message and is perceived in the right way.

Get Rich Fast? Self-Employed is the Answer

Being self-employed can be a satisfying experience for everyone both mentally as well as financially. Many people are interested in having their own business but are not willing to risk this at the cost of quitting their jobs and starting their own business. They lack the determination and motivation required to starting on their own. For all those who desire to become self sufficient fast, self-employed is the answer.Being self-employed is a good means to earn money boundlessly. One can be his/her own boss in the business. But the work could be quite challenging and demanding. People need to put in more time and effort in order to achieve success and prosperity. In the process they gain satisfaction for the job they do.There are various opportunities for those who want to be self-employed. Home-based business is available for those who are interested. Part time home-based business will build up the initial confidence before setting up a large-scale business.There are various means with which you can be self-employed at home. It is one of the effective opportunities to taste success. Those who are interested in sales can start a business of various products like garments/boutique.  Only thing is they have to do some primary investments regarding the items to be bought, storage space etc. But later the return is sure to be hugely profitable. Jewellery/ Antiques are also a flourishing business for those who have the marketing skills to make good money.Self-employment is the solution for those who want to get rich fast. Those who have good culinary skills can start cooking as a profession. They can make delicious food like pizzas/cakes etc and start selling it to known people. Then they can progress slowly by word of mouth in this business.Coaching/tutoring is another flourishing area where one can be self-employed. This gives a lot of mental satisfaction because it involves nurturing and shaping the young minds to handle their future. One can be just confined to the four walls of their home and earn enough money and fame. This is a dignified job where people can earn respect from the students as well as gain additional knowledge.Montessori/Playschool is another means to be self-employed. This involves dealing with blooming kids and teaching them. This requires a lot of patience since dealing with little kids is not a joke. It is however a real pleasure and stress relieving to be with kids.In today’s tech savvy world the concept of self-employment has undergone a revolutionary change. Outsourcing work can be done sitting at home with the help of a computer. Computer experts have huge potential to earn by becoming consultants, technical writers etc.Besides these there are infinite other opportunities for those who want to be self-employed like tailoring, music, photography, yoga, feng-shui, interior decoration etc. These jobs can be done on a part time as well as on a full time basis based on the skill level and preference.So it is never too late to be self-employed provided you have the right kind of attitude. There is sure to be a substantial monetary gain too!

6 Reasons to Work With a Personal Trainer to Achieve Your Health and Fitness Goals

We all have physical facets of ourselves that we wish we could change or improve. Do you have a little extra weight to lose? Do you wish you could run faster? Is your blood pressure a little too high? Are you carrying a little extra weight in your mid section? Do you want to run a 5K? Do you wish you were stronger? Do you have high cholesterol?Here are the top 6 reasons why you should work with a personal trainer when looking to work towards your health and fitness goals:1. Credentials: Personal trainers have the education, certifications, and experience to design safe and effective workout and nutrition plans to help you achieve your fitness goals. They are experts!2. Specificity: Personal trainers will design a program specific to your goals, needs, and current fitness level. It is all about you. Don’t get your workout from a random website or fitness magazine, those are general workouts that probably are not appropriate for you. Furthermore, a program that is not designed specifically for you may lead to injury.3. Attention: Personal trainers are there to monitor your progress, or lack thereof, and make the necessary adjustments to your plan to keep you on track toward achieving your fitness goals. Because of this attention they are also available to address your specific issues and questions.4. Motivation and Accountability: Personal trainers are there to motivate you and hold your accountable for your success. Too often we are discouraged when we don’t see immediate efforts or get caught up in our busy lives with work and family. Trainers will make sure you are doing what you need to do to improve yourself. No excuses!5. Dedication: Personal trainers want you to succeed. They want you to meet your goals. It is why they are in that line of business. They will do everything they can to support you on your fitness journey.6. Success: For all of the reasons above you are more likely to succeed. The knowledge of your trainer, specificity of program design, personal attention, accountability and dedication will guarantee you will have a successful fitness journey!So if you have a personal health and fitness goal you have been struggling to achieve consider working with a Personal Trainer. I guarantee you have a greater chance at success if you do!

5 Wedding Photography to Watch Out for in 2014

Wedding photography has changed a lot since our parents got married three decades ago. That said even though photography trends have changed there are very few couples who know much about the latest trends or upcoming trends. This often means that they don’t know exactly what they should be looking for when hiring a photographer to cover their wedding. The important thing that wedding couples should always remember when hiring a professional is to never hire one simply based on if or not they are using the latest and the most expensive equipment. It should be based on their portfolio and if they are able to shoot your wedding based on the latest trends, five of which have been described below.Trend no. 1: Celebrity wedding styleAlmost every wedding couple may want to feel like a celebrity and this particular wedding photography style makes it possible. This particular style brings red carpet style posing to wedding couples. The resulting pictures are often of couples who are acting out famous movie and music video scenes. This allows for the photographer to create new and unique themes which look like photos on a glossy film magazine cover.Trend no. 2: Soft toned black & white picturesBlack & white film cameras may have been replaced with their color counterparts a long time ago but there was a certain class that these monochrome pictures had. Today even with the latest photography equipment many photographers like the black & white effect especially when it comes to wedding photography. The amazing thing about this sepia or soft toned monochrome photography is that it is very classy, clear and stylish, it can also be edited to suit certain themes and artistic tastes.Trend no. 3: Very deep color themesA growing number of wedding photographers are leaning in the favor of using a combo on low light photography and dramatic skies to produce pictures that are stunningly deep. This effect is usually achieved during weddings that take place at night or during the reception which is under an open sky. However, if you opt for this particular photography style the professional should be able to provide you with a few tips on what you’ll need to do in order for the pictures to turn out as expected. This type of photography is ideal for beach weddings.Trend no. 4: Candid photographyThis year we may see a growing number of couples opting for candid photography because it combines their unique acting talent with the photographer’s ability to shoot their best sides. However, even though a lot of the candid shots will be composed but they need to look spontaneous which can be difficult. So, many wedding photographers will start by creating a scene in which couples need to act spontaneously just so that the pictures don’t look planned.Trend no. 5: Bold colorsThis type of photography literally turns up all the bold colors at the wedding party. So colors in the flowers, the dress, accessories etc. will all pop. Many professional wedding photographers will provide their clients with a list of bold colors that they need to use. Any shortfall in bold colors will then be filled during post production.

Discount Homeowners Insurance – Where to Get It

Homeowner’s insurance protects you against financial loss if your home or property is damaged by theft, fire, lightning, smoke, or other disasters. Thanks to the internet, you can easily find discount homeowners insurance that meets your needs. Here’s how …Complete Your InformationYou can get quotes for discount homeowners insurance by visiting an insurance comparison site. On the site you’ll complete a simple questionnaire with information about your home and your insurance needs, including …* How much coverage you want for your home and for your home’s contents. It may be helpful for you to make a detailed inventory of your home’s contents to figure out what coverage amounts you need. (You’ll also need this inventory if you ever need to make a claim.)* The deductible you want to apply to your homeowners insurance.* The square footage of your home and the year it was built.* The number of miles from your home to the nearest fire station and the number of feet to the nearest hydrant.* Any discounts for which you might be eligible. For example, many discount homeowners insurance companies give discounts to non-smoking customers, as well as for security features such as deadbolts and smoke detectors.Get Answers to Your QuestionsThe best insurance comparison sites will also have a chat feature available. With the chat feature, you can get answers to all your homeowners insurance questions from insurance professionals. (See link below.)Get Your Discount Homeowners Insurance QuotesOnce you complete the questionnaire, you’ll quickly receive discount homeowners insurance quotes from multiple A-rated insurance companies.What if the Quote is too High?If the quote for your discount homeowners insurance is more than you can afford, follow these tips to try to get it lower:* Lower your coverage limits and raise your deductibles. Note that your mortgage company probably requires a specific minimum coverage.* See if you can qualify for more discounts. Perhaps you can install more smoke detectors, burglar alarms, or buy fire extinguishers.* If your credit is poor, work on improving it.

Get the Right Automotive Fasteners For Your Safety

Most of the accidents on road today are a result of incompetent automotive fasteners. Or at least it is a contributing factor. Hence, it is very necessary that this is taken care of for overall safety on roads. Choosing the right fasteners is also necessary for proper maintenance of your precious car.Checklist for Getting the Right Automotive Fasteners: Go for company websites that has a display a huge inventory of fasteners. This way you can choose the one suited for you. Also see to it that the company you have chosen online also has state-of-the-art equipments and tools for manufacturing automotive clips that are superior in quality and fulfills specific customer needs.Only highest quality raw materials used in making this fasteners guarantee maximum level of performance, reliability and durability, hence keep an eye on that as well. Make sure to order in bulk, or packaged quantities to raise your profit content, when you get automotive clips.Installing Automotive Fasteners the Right Way: Apart from getting hold of the right fasteners, it is also necessary that you get the services of a competent engineer in this field. A proficient automotive engineer follows the specific requirements of installing these fasteners in the right way. And this is a necessary part of installation; these fasteners need different torque qualities.Getting the right installation can give a new look to your car as well as enhance its overall performance. It has been found that some metric fasteners installed on your bumpers and quarter panels if not done properly may result in undue expansion and allow movement. This may at times lead to serious and irreparable damage to your vehicle.So, never ever compromise on your car engineer, when you have to get your car repaired for faulty automotive fasteners. For your negligence may risks lives dear to you!

Computer Education

Computer literacy in this modern world has become a necessity rather than a prestigious course. Be it that you are in any industry apart from the computer studies it is of high importance to learn how to use the computer in everyday life.I studied computers in school and advanced in college to do a computer course and have realized how much a lot of the professionals in the other areas have missed by not being computer literate.I will mention four good reasons one has to be computer literate in this day.1. Computers will keep you up to date even after leaving school one has to continue studying to keep up with the pace and trends of the different industries, be it an engineer, nurse, or a social worker.2. Research and reference is easier done using the internet and case studies will be readily available such that some are for free thus resources found on the internet, this breaks the barriers of advancement of studies in the modern world.3. Communication barrier is lifted in the computer world because once one has internet connection on the computer it will be come almost for free to communicate with the rest of the world on the internet. People use emails, voice transmission software such as GTalk, Skype to call other people on the internet for free that is breaking communication barriers in all aspects.4.Online publications such a newspapers keep you informed and mostly they are for free than the hard copy that is a paid for one, thus reducing cost of information and making it readily available to everyone who has access to the internet connected computer.It is a very important tool to be computer literate in this modern world and I propose computers should be made compulsory in the education system so that everyone should know their way around computers in the day to day world. It will increase productivity in the industries because imagine before you do what ever task one has to have a research of it to complete the task if we are using computers it will be a very a efficient means of information source and storage.Computers have become an essential source of information hence they are inevitable to the modern world. Computers store information for future reference and easy computations so if we are to learn long time ago we used libraries but now we can have the libraries in the computer. Let’s use the computers to keep up with the trend.Alois T Chanakira is the chairman of ATP technologies a web hosting company www.atptechnology.net. For any domains that you would like to purchase visit their web site.

Gambling Addiction – Do Something Before It Goes To Far

In recent years, researchers have been doing work to try and identify what causes gambling addiction. Like alcoholism and smoking addiction, gambling addiction can cause often life altering problems for a person if the problem goes unchecked. Most studies show that gambling problems arise because of a couple of things. Either that person has issues with competition and must be in the “action”, or the person has deep rooted problems with money. A less than fortunate childhood can sometimes prompt people to begin to gamble.

Compulsive gambling can be dangerous because it strips the compulsive gambler of all sense of reality. In a regular setting, they would never be alright with losing thousands of hard earned dollars. When they sit down at the poker table, however, it somehow becomes OK to lose this amount of money. This dangerous self-convincing act is what fuels gambling addiction to points where it becomes dangerous. As people lose touch with reality, they begin to lie, break relationships, and even deceive themselves. All of these things are extremely dangerous issues and can lead a person to do things that they normally would not.

Losing a big chunk of money is not even the worst thing that can happen to a person because of a gambling addiction. When people begin to get desperate, as gambling often causes extreme desperation, they will do almost anything to dig out of that hole. This can lead to crime, which simply compounds all of the problems that they are facing. Many gamblers have to fight off depression as they feel terrible about the pain they have caused themselves and their families.

Because gambling addiction is such a mental issue, hypnosis can be a successful treatment option. Hypnosis is known to help people regain their sense of reality and it can help people to have a different outlook on life. These are needed when a person is in the throws of a gambling addiction. Many people never consider hypnotherapy because they see it as something that is done on a stage in Las Vegas or something that only happens on television. Those messages are false, as hypnosis is a very real way to treat ailments like gambling addiction.

If you are suffering from a problem like gambling addiction, then you should consider hypnosis to help you get away from it. I have been serving clients for years that have successfully broken gambling addictions and other addictions with the help of hypnotherapy. Get the information that you need and change your life.

Is Responsible Gambling Possible?

Most people gamble for the fun and excitement of that big win, or to test their mettle against worthy opponents in games of skill, but gambling is about money and there is always the risk of taking the game too far.

Ensuring a conscientious and entertaining gambling environment is both the casinos’/poker rooms’ and the players’ responsibility.

Players need to play at casinos or poker rooms with the highest degree of trustworthiness, transparency and legitimacy. It is also important for players to bear the following in mind at all times during their play:

o Gambling should be entertaining and not seen as a means to making money.

o Keep track of the amount of money you spend and only gamble what you can afford to lose. Do not chase your losses.

o Keep track of the amount of time you spend gambling.

Does your casino or poker room have a responsible gaming policy?

While most people gamble for enjoyment, gambling can create various social and economic problems and very possibly cause harm to some individuals. These problems can range from over-spending to pathological gambling addiction.

Make sure that the casino you choose is committed to creating a responsible gaming environment, and has therefore gone to great lengths to implement and maintain the responsible gaming requirements of the international online gaming industry watchdog – eCOGRA (e-Commerce and Online Gaming Regulation and Assurance). This certification is for the benefit of both players and the casinos or poker rooms themselves.

What does the eCOGRA Seal of Approval mean for you?

To receive the eCOGRA seal casinos or poker rooms must undergo stringent inspections of everything from customer service centers to accounting systems and from responsive complaint procedures to financial guarantees.

The award of the seal confirms that the casino or poker room has met eCOGRA’s strict admission criteria, and signifies that that they have shown absolute commitment to fair and honest gaming, superior player support, and prompt payouts. As a player, this seal of approval can provide you with total peace of mind when enjoying your favorite online games.

Asset Management – Save Money and Improve Productivity

Asset Management Is a Tool Every Business Can Use to Save Money and Improve ProductivityFor most businesses, the efficient tracking of their installed base or in-service equipment, and the management of their spare parts inventories are key factors in determining the prospects for internal productivity and customer service profitability. However, many organizations do not yet utilize a comprehensive asset tracking and management process to ensure the availability of quality data that can be used to generate the business intelligence that can ultimately save them money and improve efficiency. This is unfortunate, because the tools are readily available – it is simply a matter of making it a priority.What is Asset Management?There are many definitions of “asset management”, although most deal primarily with financial considerations. Some are based on evolving maintenance management systems; some on the management of factory floor equipment configurations; and some for the purposes of monitoring network equipment or even railway car and container locations. However, regardless of what situation or application your business deals with, the core definition remains constant; asset management is “a systematic process for identifying, cataloging, monitoring, maintaining, operating, upgrading and replacing the physical assets of the business on a cost-effective basis”.To be truly effective, the asset management process must be built upon a foundation of widely accepted accounting principles, and supported by the proper mix of sound business practices and financial acumen. It can provide management with an effective tool that can be used to derive better short- and long-term planning decisions. As such, it is something that every business should consider adopting – and embracing.After years of studying and supporting the Information Technology (IT) needs and requirements of clients in all major fields of business, we prefer to define asset management in a more dynamic way, encompassing each of the following four key components:
An enabler to generate and maintain critical management data for use internally by the company, as well as with its respective customers and suppliers (such as installed base or maintenance entitlement data).
A comprehensive process to acquire, validate and assimilate data into corporate information systems.
A flexible system allowing for either the manual acquisition and/or electronic capture and reconciliation of data.
A program with accurate and intelligent reporting of critical business and operational information.Asset management is not merely the identification and inventorying of IT and related equipment; it is the process of making the assets you own work most productively – and profitably – for the business. Further, it is not a system you can buy; but is, instead, a business discipline enabled by people, process, data and technology.What are the Signs, Symptoms and Effects of Poor Asset Management?Poor asset management leads to poor data quality – and poor data quality can negatively affect the business over time. In fact, experience shows that there are a number of common causes that can lead to poor asset management, including lack of business controls for managing and/or updating asset data; lack of ownership for asset data quality; and an out-of-balance investment in people, process, data and technology. In addition, some businesses may not consider asset management to be a critical function, focusing on audits only; while others may not consider asset data to be an important component of the business’s intellectual property.The primary symptoms of poor asset management are also fairly ubiquitous, and may include anything from numerous compliance and security issues, to uncontrollable capital and/or expense budgets, excessive network downtime and poor performance, under- or over-utilized assets, incompatible software applications, increasing operational costs and headcount, and non-matching asset data derived from different organizations and/or business systems.Moreover, poor ongoing asset management practices can impact a business by degrading customer service delivery, polluting the existing installed base of data and distracting sales resources with customer data issues For example, Service Delivery may be impaired by inaccurate depot sparing creating customer entitlement issues, increasing escalations to upper management and lowering customer satisfaction. An uncertain installed base lengthens contract renewal cycle-time, limits revenue opportunities and inhibits technology refresh planning. The result of poor asset management can ultimately be devastating to a business, often leading to one or more of the following negative impacts:
Increased Asset Total Cost of Ownership (TCO)
Decreased workforce productivity
Increased non-compliance issues (i.e., SOx)
Decreased Customer Satisfaction
Lower Return-on-Investment (ROI) on capital investments
Decreased network/business performance
Increased number of internal and external auditsThe causes of poor asset management can be many; the symptoms pervasive; and the results devastating. However, the good news is that there are specific solutions available that can help any organization avoid these pitfalls.The PETRO Asset Management ProcessMerely “chasing data” is a poor substitute for a formal asset management program and can be a daunting, expensive and extremely unrewarding task. In order to realize the full benefits of an asset management program, the first order of business is to move a paradigm shift away from the large, reactive and generally ineffective mass clean-up projects that typically accomplish little or nothing; and focus, rather, on the implementation of a set of prescribed, proactive processes that are eminently collaborative with the customer, partner or service provider. Something more is needed; and that something more is a formal asset management process.The asset management tool that is ultimately chosen for use by the organization should be one that meets its specific – and sometimes, unique – needs. This is clearly a case where “one size does not fit all”. Whether the situation calls for merely an improvement made to an existing tool, a revised or re-engineered process, or a completely new approach, each organization’s needs must be carefully evaluated and assessed, and a customized solution must be designed and implemented to achieve the best results.Some organizations may already have the requisite internal skills and experience to build an asset management solution on their own, while others will need to seek out professionals that have significant experience in the design and development of the specific types of processes and applications that will be required, ranging from data extraction, to data assimilation, to associated systems development and implementation. Although many solutions may look good on paper initially, the “devil is in the details”, and the details will play a critical role in the prospects for a successful implementation.Whether designed internally or through an independent systems integrator, the implementation will need to focus on the specific aspects of analysis, development and reporting to ensure for the delivery of a complete solution and implementation. Many businesses mistakenly believe that they can build an effective asset management tool virtually “out of the box”. However, while the concept is easily enough understood, the unique complexities of each organization’s IT environment are such that in almost all cases, outside assistance will be needed.To address the myriad complexities that define individual business organizations, we have developed our own asset management process, known as PETRO. Encompassing five key areas of focus, PETRO, utilizing a Six Sigma approach, can serve as the foundation for the design and implementation of an effective end-to-end asset management solution. The five key components include:
P – Pre-Inventory: Review and Prep of Baseline – Review and validation of company assets, spares, inventory, installed base records and required reference data; establishment of a framework for conducting the inventory, network audit or data extraction; establishment of a baseline for making comparisons.
E – Extraction: Customer Network Data Acquisition – Acquisition of data from physical inventories, automated network discovery tools or database record extracts in various formats.
T – Translation: Mapping of Data – Interpret, map and restate data from acquisition format to a format that may be matched to the Company’s baseline data.
R – Reconciliation: Matching, Reconciling and Editing – Validate the inventory/extraction results to the baseline; matching and validation of inventory/extraction results to the Company’s record baseline, and the generation of associated user reports.
O – Original Assimilation: Transform, Integrate and Load – Process of assimilating data into corporate systems; conversion of reconciled data into identifiable data elements with attributes and values consistent with Company data requirements and definitions; integration of transformed data into unique, consolidated, identifiable data instances meeting the business data requirements; loading of transformed, integrated source data into the Company’s records.The first pass of the PETRO process establishes a “clean” records baseline that must be maintained over time. Since the success of any asset management solution in the long-term is directly related to the quality of the ongoing data maintenance program employed, the respective process and system interfaces must be designed to support the ongoing updates and assimilation of data to the Company databases through the specific touch points where asset data is updated or changed. In other words, the quality of data must not only be ensured throughout the entire process, but the ability of the solution to maintain data quality over time, and through all individual touch points, must also be protected.Ongoing Asset Management Process at the Touch PointsAn ongoing asset management solution (also known as Move, Add, Change, Delete -MACD-process is a streamlined version of PETRO that concentrates on ongoing control processes. It is a repeatable, consistent process, mutually owned by the managers of the touch points (either inside or outside the organization) and the master database of record. It should ensure the quality of the data updates through timely and efficient processing of update (delta) records.In situations where data is passed between different organizations, extra care should be taken to develop a collaborative process that is transparent and ensures the quality of the data updates. The depth and complexity of the PETRO process should be proportional to the volume and frequency of the updates as well as the cleanliness of the data at the touch points. The processes can range from Customer Self-Service for small manageable accounts to Fully Collaborative for large accounts with heavy volumes and frequent data quality issues.Key Components of the Ongoing Asset Management ProcessThe key drivers of the MACD process consist of the following four components:
A Comprehensive Data Extraction, Translation and Reconciliation Process – Development of both the processes and the standards for collecting data updates (electronic or manual). – Performance of an automated, or semi-automated, process to validate, translate and reconcile the results. – Creation of a MACD Data Manager to store and track interim records during the ongoing PETRO processes – Development of automated status reports throughout the process transparent to all MACD touch points – Coordinating data updates at the touch points and/or outside (customer) locations.
Process, Policy and Procedure Development – Conducting the required MACD asset management process analyses and evaluations at all touch points. – Designing and developing processes and capabilities to support PETRO implementation. – Defining the policy and procedures required in the asset management process for both the near- and long-term.
Requirements/Systems Development – Developing all functional and systems requirements; coordinating and engaging IT in the development of an automated system to analyze, extract, translate, reconcile and assimilate Company data. – Development of working models and systems, as needed, to support the asset management process.
Data Maintenance – Development of processes to support the asset management process for long-term implementation, including ongoing data maintenance and integrity. – Development of meaningful Asset Performance Monitoring and Control processes.