Amid overlapping global crises and countless
marketplace upheavals, companies
from every sector are looking to shore up
their operations against future disruptions. Industry
insiders have long seen improving asset health
monitoring and maintenance as a winning strategy
to achieve resilience, agility, and efficiency.
However, it can be hard to identify which digital
tools will deliver the maximum impact, and harder
still to convince diverse groups of stakeholders
that they should prioritize a given project over
another. After all, what department wouldn’t benefit
from additional resources? In the end, a solid
business case for prioritizing spending on asset
health and predictive maintenance comes down to
demonstrating fast return on investment (ROI).
As with any aspect of digital transformation,
scalability is key. Predictive maintenance,
enabled by artificial intelligence (AI) and machine
learning, needs an easy-to-scale solution that
maximizes ROI up-front and continues to build
returns as an organization further refines its digital
capabilities. But how do executives determine the
most cost-effective place to start?
Identifying your
predictive
maintenance priorities
Many organizations already use real-time data
to conduct condition-based maintenance of their
assets. Given recent supply chain disruptions,
however, insight into spare part delivery time
becomes much more important. Risk-based maintenance
integrates aspects of reactive, preventative,
condition-based, and predictive maintenance
techniques, as well as spare parts inventorying to
improve asset availability and build resilience.
No matter where your organization is in its digital
transformation, identifying where to invest for maximum
returns is pivotal. Enterprises should look not
only for discrete software but scalable digital solutions
that are part of a robust portfolio. Aveva Asset
Strategy Optimization, for example, lays the foundation
for higher-level capabilities. With Aveva Asset
Strategy Optimization, organizations can assess asset
criticality, which they can use to prioritize the assets
they will focus on with predictive analytics.
Aveva Asset Strategy Optimization gives a
clear overview of all your assets, helping you pinpoint
reliability investments with
ROI in mind. It lets you tailor strategies to your
company’s unique position. For example, if leadership
is looking to further a sustainability initiative,
Aveva Asset Strategy Optimization will show you
which asset strategy will best achieve that goal.
Scalability drives ROI
The use of AI has become commonplace for
detecting asset performance irregularities. The
belief persists among some, however, that algorithms
are the most important part of any predictive
maintenance program. In reality, an algorithm
only accounts for a small fraction of the comprehensive
solution needed to deploy a holistic
predictive maintenance strategy.
Aveva Predictive Analytics is one such scalable,
comprehensive solution. It incorporates AI models
that provide early asset performance anomaly
detection and extensive diagnostics to create the
right insight from all data sources. The solution’s
asset libraries provide reliability data that describes
the best remediating actions in the event of a
failure, allowing you to minimize downtime and
act quickly to address equipment health and performance
problems enterprise wide.
To achieve maximum ROI, any complete predictive and prescriptive maintenance solution must be easy to scale
and operationalize for all stakeholders, not
just data scientists and software programmers.
Solutions like Aveva Predictive Analytics can
be easily scaled to encompass a single asset in one
plant to all your assets worldwide.
Why Aveva?
The insight into asset criticality Aveva Asset Strategy
Optimization provides, coupled with the easy-to-scale benefits Aveva Predictive Analytics delivers,
demonstrates that Aveva’s solutions represent
the most comprehensive predictive and prescriptive analytics portfolio
in the market, ensuring maximum ROI.
Operating a reliability centered maintenance
(RCM) program can be a resource-intensive process.
Because Aveva Asset Strategy Optimization
enables collaboration between experts and
non-experts, you can minimize the time it takes
to collect and verify information. Users can input
data directly into a web-based interface, which is
then easily accessible to reliability engineers at
any time, anywhere. Using this method, teams
have cut the time it takes for an RCM study by
half. Aveva Asset Strategy Optimization accelerates
RCM from study to deployment by bringing
together people and data. With Aveva’s Asset
Strategy Library, deployment time of asset strategies
can be sped by up to 90%.
Through native integration to the Aveva PI
System, the solution is highly scalable. You can
monitor a single asset, plant, or a whole host of
remote assets across multiple sites, allowing you
to scale continuously with a minimal IT footprint.
Aveva Predictive Analytics makes it easy for
users to train proven algorithms quickly and operationalize
them. Prescriptive actions, coupled with
integrated fault diagnostics, speed up asset remediation.
No-code architecture allows a wide range
of users to quickly implement model management
strategies using templates. The solution also shows
users a time to failure forecast.
When deployed in tandem, Aveva Asset Strategy
Optimization and Aveva Predictive Analytics
create an easily scalable, comprehensive predictive and prescriptive maintenance toolkit, ensuring maximum
ROI and allowing you to achieve your predictive
maintenance goals.
