The Potential Of Artificial Intelligence, The year 2020 showed that it is possible to apply Darwin’s theory of the “survival of the fittest” to industrial enterprise management. Only the smartest companies can survive today’s aggressive competition and unstable economical environment. Fortunately, an ever-increasing modern generation of analytics offers business maintenance managers new tools to create a smart company.
By using artificial intelligence and machine learning, advanced analytics provides important insights for securing critical assets, assessing overall equipment efficiency (OEE), and preventing downtime.
Gone are the days when data was used without a deeper understanding, for example, to create graphs. For a more sophisticated analysis, data analysts able to draw meaningful conclusions from the vast amount of data had to be hired. However, due to the lengthy processing process, it was often the case that the output data was not relevant. As a result, asset management only responded and seldom played a preventive role. This approach is currently insufficient. Industrial companies need to increase their performance if they want to remain competitive.
Today, advanced analytics can play an important role and connect data from individual devices throughout the enterprise. “This will remove entry barriers and make it easier to define goals, select algorithms, and test results. It has been transformed into a user-friendly interface, resulting in reliable and clear information for better business decisions. Industrial maintenance managers are able to identify the best steps to increase asset value and prevent unplanned downtime,” said David Zeman, Infor’s sales manager.
“These tools do not require any expertise. In this way, they help regular users find relevant relationships between key performance indicators and other variables and then automatically generate visualizations describing the behavior of key indicators,” explains David Zeman, adding: equipment efficiency and energy consumption. The aim is to monitor and prevent possible equipment failure, which can be achieved by early detection of warning signals. In addition, modern analytics will help you find the best future solution to any asset performance issues. There are often several possible solutions in a complex production system.”
It is high time that industrial companies began to use modern technology and smart analytics effectively. Today, industrial business maintenance faces many challenges, such as increased productivity, reducing waste, or the pressure to speed up response times and meet customer requirements. For many companies, the key to success is growing and maintaining individual devices’ performance for a long time. With Infor solutions, a business can increase equipment life, streamline operations, and make smart repairs.