Have you ever wondered what it would be like to be able to predict the future? You’d probably start by looking at tomorrow’s lottery numbers, right? Even if you didn’t hit the lotto, it would be great to be able to see future events like equipment failures coming before they actually occur. Indeed, many industrial companies are implementing big data tools to gain actionable insights into their business processes. It’s a trend you can expect to continue spreading as more and more companies across the globe race toward digital transformation.
Predictive analytics is one of the most powerful big data tools, as it enables business users to accurately forecast future events, helping them to be proactive rather than reactive. Many industrial companies use predictive analytics to provide preventive maintenance to their operational equipment so they can keep things moving without a hitch. Preventive maintenance software is becoming increasingly popular as more companies look for ways to implement data science to improve operational efficiency. So, continue reading to learn what preventive maintenance software is and how it can help save your company a lot of time and money.
What is predictive maintenance?
If you’re new to the topic, then you’re probably wondering what predictive maintenance is. Predictive maintenance, or condition-based maintenance, is a strategy of asset management that relies on the internet of things (IoT) technology and predictive maintenance software to provide insights into equipment performance and condition. Preventive maintenance software uses historical data and real-time data to provide technicians with critical operations data detailing asset conditions. Reactive maintenance, which is waiting for breakdowns to occur before fixing them, leads to unplanned downtime, which hurts your company’s bottom line. Predictive maintenance enables you to get proactive and mitigate extended downtimes.
Maintenance teams can use a variety of sensors to monitor equipment.
As you can imagine, predictive maintenance relies on more than mere software. Asset management solutions come with different types of sensors and monitors that enable them to capture data. Furthermore, these devices rely on artificial intelligence and machine learning algorithms to detect anomalies in equipment performance and condition and report them to the asset maintenance software dashboards. Many systems automate work order management and create work orders for the technician when the system recognizes faults in system performance.
Prescriptive analytics can provide viable preventive maintenance solutions.
There’s a big difference between knowing there’s a problem and knowing how to fix that problem. The best preventive maintenance software programs use prescriptive analytics to suggest viable solutions for addressing equipment failures. Indeed, prescriptive analytics reduces a lot of time that your maintenance team would normally spend troubleshooting.
Predictive maintenance increases the life span of the equipment.
The best reason to adopt predictive maintenance for your business is that it increases the life span of your company’s equipment. The chances are that you invested a lot of money in your company’s operational equipment, so the longer it lasts you, the better your ROI. Breakdowns have a way of impacting equipment even after you fix the problems, but you can avoid them altogether with a predictive maintenance system, significantly prolonging your equipment’s life.
As you can see, there are many use cases and benefits of preventive maintenance software. Companies all over the United States lose millions of dollars every year due to unplanned downtime, but preventive maintenance can help you keep all your essential equipment in working order. With features that enable technicians to monitor equipment in real-time from anywhere they have an internet connection, it’s much easier for them to stay on top of small issues and prevent those issues from turning into equipment failure. Predictive maintenance tools are essential for companies that want to keep their equipment up and running like a well-oiled machine.