As the hype around industrial enterprise software solutions continues to expand with terms like “big data”, “predictive analytics”, “Internet of Things”, and the “Industrial Internet” being thrown around, it is easy to lose sight on the concepts and capabilities that have been around for decades before. Here at GE Digital, we believe the expansion of all of this technology will help our customers solve more complex problems faster. And, we also know that high-value solutions exist today to optimize asset performance with the implementation of intelligent asset strategies.
Asset strategies have existed for many years through constructs such as engineering design, maintenance and inspection plans, and condition and process monitoring. But what has shifted in more recent years is the overlaying of risk principles, easier access to the right data in the right context, and the implementation of analytical models, such as a closed loop system. This is a core component of an intelligent asset strategy: