Utilizing assets—whether equipment, devices, or data—to their greatest potential is a challenge that faces most businesses today, regardless of size. When assets are mismanaged or underutilized, equipment failures occur and operating expenses increase, both of which result in lost opportunities and lower revenues.
How can businesses today take advantage of the Internet of Things (IoT) to make the most of their assets and maximize productivity?
Built on the Decisyon App Composer (DAC) platform, the IoT Asset Optimization solutions provide the answer by analyzing asset data in real-time, recommending options for improvement, and implementing relevant actions.
Designed to integrate real-time information from multiple systems and sources, the Asset Optimization solution provides a single point of access to critical data being generated by key assets such as manufacturing equipment, electricity and wind turbines, oil and gas exploration equipment, healthcare devices, and many others. Feeding historic trends and real-time data into predictive models, operations teams can instantly identify maintenance and upgrade requirements before failures occur.
DAC's Asset Optimization solution delivers:
- Improved decision making
- Avoidance of equipment failures and increased production uptime
- Accurate predictions of equipment maintenance needs
- Life extension for existing assets
- Reduction in the cost of asset repairs
- Combined relevant data from a multitude of sources
- Maximized team productivity
Customers who have implemented Decisyon App Composer for asset optimization and other business challenges have achieved the following benefits:
- Elimination of 70-90% of spreadsheets, emails, and phone calls related to asset maintenance
- Increase in revenue by up to 10% through higher asset uptime
- Up to 15% reduction in costs of asset monitoring
- 10-15% reduction in costs related to spare parts in the field
- Up to 5% reduction in capital expenditures related to asset replacement
- Up to 50% reduction in work-in-process inventory