Machinery and heavy industry assets are the powerhouses of productivity and performance for their operations. We rely on them to produce our energy, our fuel and even the materials that build our cities. But, when they falter, the results can range from severe to catastrophic.
In the last 50 years, industries have made attempts to address asset uptime and performance but maintenance today is still predominantly at a reactive or preventative level of maturity. And, unplanned downtime can cost heavy industry 5 to 20% of their productive capacity.
We help our clients increase reliability of physical assets and reduce downtime by leveraging industrial artificial intelligence (AI), data science and predictive maintenance.
Asset Performance Management Benefits
Asset performance management pairs industrial AI with predictive maintenance strategies to deliver real-time insights on asset performance and predict health issues before they arise. In an asset-intensive enterprise, asset performance management can profoundly improve asset performance, minimize risk and reduce total life cycle costs.
30+% increase in asset utilization
25-30% decrease in downtime events
15-30% reduction in maintenance costs
40-50% increase in labor productivity
How We Help Clients with Asset Performance Management
We help clients enable predictive maintenance with industrial AI analytics with a proven four-step approach.
Analyze Current State
Determine baseline reliability for system under consideration
Assess historical performance data, maintenance records, failure data, etc.
Define Future State
Define target system reliability
Identify low reliability components and corresponding fault modes
Evaluate Economic Impact
Identify use cases that provide the most value through use of industrial AI
Conduct economic value assessment
Confirm Technical Feasibility
Develop data-driven models based on failure data
Demonstrate improvements with machine learning models
Deploy to production environment
Monitor, evaluate and readjust as needed
Asset Performance Management Case Studies
Watch this on demand video to learn how leading industrial manufacturers are leveraging real-time sensory information combined with advanced machine learning algorithms to predict failures, reduce downtime and improve worker safety.
Let's Get Started
We can help you reduce downtime with asset performance management.
