Accelerating the
Industrial Internet of Things

Asset Efficiency

Asset Efficiency
Feature New Record
Asset Efficiency refers to the process of analyzing the health of an asset. The health of an asset in itself relates to the asset's utility, its need to be replaced, and its need for maintenance. The Use Case is broken down into three key components:
-Monitoring: Tracking the actual health and viability of the asset
-Diagnostic Analysis: Comparing new, real-time data to relevant data from the past in order to detect any anomalies
-Prognostics: Given past data, algorithms are developed to determine the remaining useful life of an asset

Many industries have assets that are critical to their business processes. Availability and efficiency of these assets directly impact service and business. Using predictive analytics, the Asset Efficiency Testbed aims to collect real-time asset information efficiently and accurately and run analytics to make the right decisions in terms of operations, maintenance, overhaul and asset replacement.

The Asset Efficiency Testbed monitors, controls and optimizes the assets holistically taking into consideration operational, energy, maintenance, service, and information efficiency and enhance their performance utilization.

Practically speaking, sensors are applied to the assets to gauge health on the edge. The retrieved data is then stored in the cloud where a variety of software can be utilized to leverage the acquired data, including data analytics software. Finally, an Application Enablement Platform (AEP) is used to connect the data to custom applications designed specifically for your business.

Benefits: Improvement in asset life, minimized downtime, heightened predictability of service
-OT CAPEX Reduction
-OPEX Reduction
-Customer Service Improvement

Key Vendors: Bosch, GE, IBM, Intel, KUKA, National Instruments, PTC
$2.5 Trillion potentially in overall asset efficiency improvements
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