Efficient Plant March 2021 - 18

feature | predictive maintenance

Predictive-analytics technology, particularly if cloud based, can result in a 30% reduction in maintenance costs and 25% improvement in unplanned downtime.

able email-notification capabilities.
The data in predictive-analytics software
includes several advanced statistical and
model-based comparison applications and
business-intelligence tools that enable users
to spend less time searching for potential
problems. Users can view the raw training
data, see results of the model, and compare
the performance of similar assets. This diagnostic ability reduces the likelihood that an
engineer will attribute abnormal operating
conditions to the wrong variable.

RELIABILITY, SCALABILITY, AND
PERFORMANCE
Deploying predictive analytics through a
cloud-based system allows companies to
readily and easily boost predictive- and
prescriptive-maintenance strategies and
monitor asset health and performance from
anywhere. Similar to on-premises versions,
predictive analytics in the cloud leverage AI
(artificial intelligence) and machine learning
to analyze historical data and automatically
infer correlations between operations data
and asset performance. This provides new

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insights that can be used to optimize operations and maintenance of assets.
By leveraging cloud-deployed predictive
analytics, organizations can easily share
their preventive-maintenance strategy
between different locations and departments
within an organization. This is accomplished by leveraging data in dashboards,
process- and asset-centric visualization and
alerting, enabling a single lens of truth, and
enhancing collaboration. Typically, this
cost-effective software-as-a-service solution
is simple to set up, manage, and use without
additional IT infrastructure or staffing.
Cloud-based predictive analytics offer
several operational benefits. These include
deploying information across an entire
enterprise, minimizing the need for specialized IT resources, and providing complete
and accurate analyses by leveraging combined data sources.

SOLVE OPERATIONAL
CHALLENGES
Predictive analytics are needed now more
than ever as companies undergo the fourth

industrial revolution. The need is compounded by the current requirements for
remote working options and flexible on-site
scheduling. Industrial customers are also
seeking solutions that solve the needs of
today's connected worker. Thus, information must be easily available remotely and
securely to make critical decisions.
Predictive and smart analytics can play a
key role in assisting the connected worker
with seamless collaboration, access to timely
information, and enhanced visualization
and insights. Industrial companies need
strong digital infrastructure to be successful
during and after the pandemic and tools
such as predictive-analytics software are
helping to guide them forward. EP
Kim Custeau is the Global Asset Performance
Management Lead at AVEVA, headquartered
in Cambridge, UK (aveva.com). Custeau
leads the strategy for industrial asset-performance-management solutions, which helps
AVEVA customers improve asset reliability
and performance to maximize return on capital investments and increase profitability.

MARCH 2021

3/3/21 11:35 AM

http://www.aveva.com http://www.EFFICIENTPLANTMAG.COM

Efficient Plant March 2021

Table of Contents for the Digital Edition of Efficient Plant March 2021