Efficient Plant March 2021 - 15

feature | predictive maintenance

Analytics Cut
Maintenance
Costs
Kim Custeau
AVEVA

THE COST ASSOCIATED with unplanned downtime
is a problem faced by companies across multiple sectors.
According to market-data specialist Statista, New York,
NY (statista.com), in 2020, 25% of respondents globally
reported the average hourly downtime cost of their servers
was between $301,000 and $400,000 (statista.com/statistics/753938/worldwide-enterprise-server-hourly-downtime-cost/). This is a large price to pay for inefficiency,
especially when there is software available to help this risk.
Predictive analytics reduce equipment inefficiencies,
which are a large contributor to unplanned downtime. By
increasing equipment effectiveness, companies have saved
hundreds of millions of dollars in early-warning catches,
with organizations experiencing a 30% reduction in maintenance costs, 25% improvement in unplanned downtime,
and 25% gain in workforce efficiency.
Overall, predictive analytics allow a company to better
understand its individual asset performance. Specifically, predictive analytics benefit operations by learning the
normal operational behavior of an asset and providing early
warning when that behavior is trending toward a potential
problem. While this is useful in any maintenance center, it
is particularly useful in an operational setting to help stakeholders determine the remaining useful life of production
assets. As a result, companies minimize unplanned downtime, better plan their maintenance windows, tune their

MARCH 2021

EP2103favevar1.indd 15

Cloud-based predictiveanalytics software provides
enterprise-wide access to
asset-performance data
while potentially reducing
unplanned downtime by 25%.

asset strategy to a " just-in-time " repair policy, and gain
much better control of spare-parts inventory costs.

PREDICTIVE-ANALYTICS SOFTWARE
Predictive-analytics software develops a series of normal
operational profiles for each specific piece of equipment.
The profiles are compared with real-time operating data to
detect subtle changes in system behavior that often indicate
an asset is trending toward a potential failure.
An advanced-alert manager and email-notification
system provide near-real-time updates of how well a plant
or system is functioning. The alert system identifies which
assets are experiencing anomalies, and possible faults.
Prescriptive information related to the type of asset, its
condition, and recommended steps to remediate anomalous
behavior are included in the alert. Each alert can be further
documented in a case-management system, contributing to
an extensive asset-performance knowledge base.
Alerts and notifications communicate when a deviation
between actual and predicted values exceeds allowed limits.
Alerts can be managed by alert category, level, criticality,
duration, and frequency. Each alert event is also directly
linked to a graphical trend for that asset. That trend shows
event data, threshold limits, and times when the values are
in alarm. Relevant users and groups can receive notification
in real time if an asset is in alert status through customizEFFICIENTPLANTMAG.COM |

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3/3/21 11:34 AM


http://www.statista.com https://www.statista.com/statistics/753938/worldwide-enterprise-server-hourly-downtime-cost/ http://www.EFFICIENTPLANTMAG.COM

Efficient Plant March 2021

Table of Contents for the Digital Edition of Efficient Plant March 2021

Efficient Plant March 2021 - Cover1
Efficient Plant March 2021 - Cover2
Efficient Plant March 2021 - 1
Efficient Plant March 2021 - 2
Efficient Plant March 2021 - 3
Efficient Plant March 2021 - 4
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Efficient Plant March 2021 - Cover3
Efficient Plant March 2021 - Cover4
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