Predictive Asset Management

Being able to deliver a predictive analytic’s strategy that enables a company to optimize operational efficiency and to see the value of business functions such as engineering, maintenance, aftermarket and the finance all working together to significantly improve product performance,  customer satisfaction and also business profitability is now a reality, through using IBM SPSS Predictive Analytic’s will allow your company to find real insights into what is happening within your business.

Data is now being used to create collaborate across teams and departments, and through analysis building agreement over new ways of turning data into new insights into engineering design, business processes and customer needs.

We are able to tailor our systems expertise in IBM Maximo, SPSS and Cognos to meet your business needs, we will partner with other experts in this field to offer our clients across all industries software and analytics to drive business performance.

Within your business can you image shifting from fail-and-fix to predict and prevent in your maintenance department?

With an optimized asset management strategy which includes predictive analytics you can meet the financial constraints of increased return on investment or reduced maintenance budgets through a value based justification, taking into account criticality and consequence of failure to your operational performance objectives.

Predictive Asset Management metrics MTBF, MTBR, MTBPM can be improved using predictors such as probability of failure, terminal vs non-terminal events which will determine reliability of asset performance.

AssetRight are able to use both structured and text data and make unstructured data qualitative and quantifiable enabling the discovery of insights  maintenance reports, failure logs, parts catalogues, CMMS systems, warranty and field reports. We are able to use all available data such as sensor logs and condition monitoring data. We will then use models Neural Nets, Logistic Regression, Decision Trees, SVM, SLRM, Baysian, Weibull, Parametric, Non-Parametric, Survival Analysis to estimate the failure likelihood.

 

How might you begin, call the experts AssetRight www.assetright.com and let’s see what’s possible