use, usage, utilization, utilisation, employment, exercise(noun)
the act of using
"he warned against the use of narcotic drugs"; "skilled in the utilization of computers"
the state of having been made use of
"the rate of utilization"
the act of utilizing, or the state of being utilized
In equipment and tool rental companies, utilization is the primary method by which asset performance is measured and business success determined. In basic terms it is a measure of the actual revenue earned by assets against the potential revenue they could have earned. Rental utilization is divided into a number of different calculations, and not all companies work precisely the same way. In general terms however there are 2 key calculations: the physical utilization on the asset, which is measured based on the number of available days for rental against the number of days actually rented., and the financial utilization on the asset which is measured as the rental revenue achieved over a period of time against the potential revenue that could have been achieved based on a target or standard, non-discounted rate. Physical utilization is also sometimes referred to as spot utilization, where a rental company looks at its current utilization of assets based on a single moment in time.
The numerical value of Utilization in Chaldean Numerology is: 4
The numerical value of Utilization in Pythagorean Numerology is: 3
Sample Sentences & Example Usage
Time utilization should focused on life
Success is the maximum utilization of the ability that you have.
A drop in refinery utilization in combination with super-strong imports helped to stymie the draw to crude.
With December and January behind us, we are not seeing any indication or evidence of an increase in utilization.
The large crude oil inventory build, driven by a drop in the refinery utilization rate, makes for a bearish report.
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Translations for Utilization
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"Utilization." Definitions.net. STANDS4 LLC, 2018. Web. 22 Mar. 2018. <https://www.definitions.net/definition/Utilization>.