Performance monitoring fundamentals: Demystifying performance assessment techniques
Real-time performance monitoring to identify poorly or under-performing loops has become an integral part of preventative maintenance. Among others, rising energy costs and increasing demand for improved product quality are driving forces. Automatic process control solutions that incorporate real-time monitoring and performance analysis are fulfilling this market need. While many software solutions display performance metrics, however, it is important to understand the purpose and limitations of the various performance assessment techniques since each metric signifies very specific information about the nature of the process.
This paper reviews performance measures from simple statistics to complicated model-based performance criteria. By understanding the underlying concepts of the various techniques, readers will gain an understanding of the proper use of performance criteria. Basic algorithms for computing performance measures are presented using example data sets. An evaluation of techniques with tips and suggestions provides readers with guidance for interpreting the results.