How can engineers and data scientists get ROI from their predictive maintenance program? In this blog, we’ll run through some of the potential uses of industrial data, and how the resulting industrial analytics form part of a cohesive maintenance strategy.
If you missed the first part, where we covered the types of data that are useful in a predictive maintenance program, you can check it out here.
Now that pain points are known and outlined, valuable or bad actor assets identified, and the state of data has been captured, industrial businesses have the context to understand — and realize — the impact of predictive maintenance and reliability strategies.
First, industrial businesses need to understand the potential uses of their data. Questions might come up like:
- What do you expect to achieve from a targeted transition to predictive reliability?
- Do you have relevant root causes for equipment failures?
- What failures would be most beneficial to predict, and at what lead times?
There are four major benefits from a transition to predictive maintenance. The first two benefits are not truly predictive in nature, but they are required for predictive analytics.
In turn, they are often bundled into a software solution but are broken out here.