Four Steps to Managing and Driving Value from Your Assets
In the current competitive business environment, your company is probably being challenged to improve productivity by optimizing asset reliability and operational performance. To help, technology gurus around the world are working hard and fast to develop next-generation Industrial Internet software to manage and analyze your asset and process data to help you gain value from it.
The problem is—it’s all very confusing. It’s hard to understand the functionalities of all this software—what all the individual pieces do and how they all fit together. What do you really need and when? How do you go about building a proper technology stack—in an organized and simple manner? In fact, how do you even get started?
In reality, all of this software can be divided into four easy-to-understand groups, each of which has a particular function on a four-step continuum.
The following describes the types of software you will need as you progress to gain more and more value from your data and grow closer to optimizing your asset reliability and performance. We’ll discuss how to move from reactive monitoring to the most advanced prescriptive strategies—and, in doing so, how to transform your data’s trends and patterns from uncontrolled noise into more actionable information.