As someone looking after the operations, maintenance or EHS (Environment, Health, Safety & Sustainability) of a facility, wouldn’t it be nice if you could see into the near future to tell when a problem will occur. Kind of like having a reliable crystal ball or a fortune teller by your side. This ability to look into the future has been made possible to a large extent by using Predictive Analytics.
It is the next generation of operations & maintenance wherein you don’t wait for the problems to happen & then react.
With this proactive approach you can predict a problem before it occurs. This gives you response time & takes out the surprises from operations, maintenance or EHS. This approach takes the concept of Prevention to the next level.
The Predictive Analytics work by using Machine Learning based on the concept of Artificial Intelligence. The software (a complex algorithm) keeps monitoring the available operating, maintenance or EHS data. The moment it detects a trend which indicates a problem being developed, the Predictive Analytics software issues a notification to the concerned personnel to take the corrective action. Its the next step of SPC (Statistical Process Control) which is the cornerstone of QA (Quality Assurance).
Since it is all automated, there is no chance of someone overlooking or forgetting about it. This may save you millions by avoiding unplanned outages & catastrophic failures.
These predictive models are currently in use by many Fortune 500 companies to forecast inventory and manage factory resources e.g.:
- Process Industry uses these predictive models to estimate market demands before anyone else
- Airlines use predictive analytics to decide how many tickets to sell at each price for a flight.
- Hotels predict the number of guests they can expect on any given night to adjust prices to maximize occupancy and increase revenue.
- Governments use it to predict & influence elections outcome
- Police use it to prevent crime
- Organizations use it to predict employee behavior to increase productivity
Predictive Analytics enables organizations to function more efficiently.
Having said all of this, remember that Predictive Analytics is not the answer to everything, without a good process management system nothing can sustain.
Here is a very nice article about What Not To Do when thinking about implementing Predictive Analytics solutions.
Predictive Analytics are being used by industry leaders in ALL fields, from crime fighting to hotel reservations to energy generation to flight reservations. If your organization has still not done this, you are seriously missing out on the opportunity to save cost, be more competitive and become the leader in your field.
We provide Predictive Analytics services for all industries especially Petrochemical and Oil & Gas where the potential for savings is huge.
Our Predictive Analytic solutions are for:
- Operations Managers at sites which are using DCS (Distributed Control System) for their plant operations and have installed APC (Advanced Process Control) or are thinking about it, would be excellent candidates for Predictive Analytics. It can enhance catalyst & resin life, increase operating efficiency and much more
- Maintenance professionals can be a Godsend to predict & prevent failures in pumps & compressors, motors & breakers, servers, data houses and more
- EHS professionals, it is nothing short of a wonder to predict When & Where next accident may happen so that concentrated efforts can be focused there instead of shooting in the dark!
Please feel free to Contact Us for any further details.