Internet of Things (IoT) is a network of connected devices that can send and receive data. As IoT devices get deployed across industries, they are playing a critical role in assisting Operations and Maintenance (O&M) teams manage their infrastructure. Whether in manufacturing, utilities, transportation, logistics or even retail, O&M uses sensor data from these IoT devices to monitor the state and health of assets. The management of these assets using smart devices has come to be known as Asset Performance Management.
Gartner defines Asset Performance Management as follows: APM encompasses the capabilities of data capture, integration, visualization and analytics tied together for the explicit purpose of improving the reliability and availability of physical assets. APM includes the concepts of condition monitoring, predictive forecasting and reliability-centered maintenance (RCM).
When machines in your infrastructure send real-time data, O&M can use that data to bring in efficiencies. For example, real-time monitoring of assets can help O&M teams deliver preventive maintenance; and research shows that preventive maintenance can save as much as 30% in maintenance costs or increase lifetime of equipment by 60% to 75%. Smart devices monitoring physical assets can help O&M in multiple ways:
- Higher productivity
- Lower downtime
- Lower maintenance hours
- Longer lifespan
- Lower maintenance costs
- Lower cost of ownership
- Higher RoI
- Fewer accidents
- More business agility
IoT devices result in a deluge of data and if O&M teams do not have the tools to visualize data, it would be impractical for them to make data-driven decisions or take actions. What O&M teams need is a tool that can help visualize data and analyze data at scale, so O&M teams can take timely action. At the same time, this tool shouldn’t be complex that it requires special skills or training.
Vizard, Infruid’s patent-pending Big Data Visualization software is exactly the kind of tool that could help O&M teams manage their assets. Vizard is so simple to use that O&M teams can get started on the tool in a few hours.
Infruid Labs is a Business Analytics and Data Visualization solutions company. Vizard is Infruid’s patent-pending and award-winning Big Data Visualization platform. Vizard helps business users ask questions in simple English and answers back with interactive charts. Ask for a demo to know more.