Asset-intensive industries -- utilities, mining, transportation and more -- face many challenges: aging assets, stagnant budgets, new operating risks, and a transitioning workforce. Despite these challenges, advances in predictive and prescriptive analytics offer new capabilities to help meet high reliability expectations.
Lumada Asset Performance Management (APM) is designed to provide health and performance insights to prevent critical asset failures while optimizing asset lifecycle costs. Benefits include:
- Increased reliability by identifying, prioritizing and resolving risks
- Reduce maintenance costs by replacing ineffective time-based practices
- Lower capital expenditures by extending asset lifespan