EAM

2903/2013

What is Predictive Analytics

By |March 29th, 2013|Categories: Predictive Analytics|Tags: , , |

Predictive analytics is an area of statistical analysis that deals with extracting information from data and using it to predict future trends and behavior patterns. The core of predictive analytics relies on capturing relationships between explanatory variables and the predictive variables from past occurrences, and exploiting it to predict future outcomes.

Predictive modeling draws from statistics and optimization techniques to extract accurate information from large volumes of data. Modeling techniques produce interpretable information allowing maintenance personnel […]

2203/2013

Replace intuition with predictions

By |March 22nd, 2013|Categories: Predictive Maintenance|Tags: , , |

Many industrial manufacturing companies run a reactive maintenance organization. That means they wait for things to break before replacing parts. Studies have proven that running a preventive maintenance plan reduces expenses by up to 75% in the long run.  The challenge is that many of the Preventive Maintenance schedules were developed on intuition.  Changing the oil filter once a year is enough.  Most organizations are sitting on a wealth of data like prior downtimes (failures), […]