Internet of Things

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Maximo

Learn how to increase the operational efficiency of the assets you manage, and improve overall equipment effectiveness by using IoT data and AI.

TRIRIGA

Reduce the operational costs of the facilities you manage, and create more engaging occupant experiences through the application of IoT data and AI.

Engineering

Learn how IoT data and AI are being applied to transform the end-to-end engineering lifecycle.

Where to look for ROI and manage risk in your asset management strategy

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Tue September 22, 2020 07:56 AM

Tanvi Kakodkar

With so many options existing for investing in technology to optimize operations, how do you decide on what, or where to invest. Because Operations Technology has evolved over decades, it is often a potpourri of standards and closed systems that have focused on interlocks and integrations to make production systems that work every day. Here are the top three challenges my customers talk to me about:

“There is so much data spread across different systems that it’s difficult to even understand what is going on.”
“I have so many alarms from my OT systems that I just ignore them.”
“I don’t know what will drive the greatest value for my business.”

Organizations continue to do preventive maintenance, asset by asset, without investing in their ability to identify the indicators of failure. So how do leaders make more educated decisions about their operations and maintenance strategy to drive growth for the business? They invest in tools that enable them to view their operations holistically and systematically. It is all about gleaning deeper insights from the existing data through the use of AI and predictive analytics, at enterprise scale. This means the tool has to be three things:

Fast to deploy
Easy to use
Cost effective

Remote asset monitoring, and the use of AI-powered anomaly detection is the answer.

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