Getting the right data to support your asset performance management strategy

Asset-intensive organizations need to disrupt the status quo to transform both the operations as well as the culture around data analytics and reliability.

By Don Rozette, Meridium

Maintaining the physical health of your assets can be a challenge, and it becomes even more challenging when your organization is in a “cost-cutting mode,” while still attempting to optimize performance and maintain safety. Failures such as mechanical failure, operator error or lack of oversight can cause unplanned downtime and significant costs to the organization. For instrumentation and process control professionals, it’s often unclear how their day to day actions impact the bottom line.

To support larger business goals, process control professionals can adopt an asset performance management (APM) strategy that helps capture and analyze machine data to transform information into strategic actions from the facility floor to the corporate office.

Today most organizations and their maintenance divisions are siloed. As a result, process control professionals may not be aware of maintenance efforts or issues being managed by other reliability engineers in the organization. If maintenance reports and best practices aren’t being shared openly, failures and fixes are repeated. APM initiatives allow institutions to break down organizational silos, enabling all teams to set up realistic operating targets, streamline maintenance and reliability efforts and strengthen the overall asset reliability.

To learn more, read "Big data analytics helping to improve asset performance management" from Control.

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