Insights

Asset Analysis: Difficulties and Solutions

September 1, 2017, MOQdigital Marketing

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Businesses need to be able to analyse and assess their assets. Understanding company requirements, operational factors and trends, and cost consolidation is part of corporate success.

However, these analyses are difficult, time-consuming, and often costly. There is also the risk that businesses will not obtain the full picture, missing key aspects that end up costing them more time and money in the long run. Fortunately, IoT, Azure PowerBI, and Predictive Maintenance allow for better analysis and, as a result, better business.

 Issues

Current analysis assessments just do not provide businesses with enough information. Without a big picture, and the ability to examine smaller structures and strategies within a company, operations cannot discover the best way to move forward. Many businesses attempt DIY analysis, and while internal assessments are beneficial, they often leave companies wanting for more actionable insights. On top of this, an accurate analysis of assets is massively time-consuming, and there are multiple factors to consider – making the process difficult. Time and difficulty equate cost, and this can end up increasing, rather than consolidating, company expenditure. Rather than miss out on critical elements, companies should look to Industrial Internet of Things (IoT) and Azure PowerBI solutions. In doing so, they will be able to reduce risk, identify positive and negative patterns, and strategise for success.

 Assessment

Businesses needing to monitor and maintain the performance of their supply chain, identify areas for operational cost consolidation, and reduce business risk can benefit from IoT and Azure solutions. For Utilities, Logistics, and Transportation industries, efficient and safe operations are essential for success. Assessing assets, as well as factors influencing revenue production can become high cost and high risk, especially if operations are not being utilised effectively. High-value equipment and assets need monitoring. Understanding the performance of assets and machines within the supply chain, as well as being able to identify costs, helps companies reduce their burden, reduce their risk, and increase their productivity.

MOQdigital provides Industrial Internet of Things solutions that:

  • Use data from IoT sensors on equipment and assets to identify patterns leading to failure and increased risk
  • Use Azure Machine Learning (AML) to predict when maintenance is required
  • Identify cost consolidation with PowerBI visualisation dashboards

 Solutions with MOQdigital

Industrial Internet of Things solutions utilise data from IoT sensors on equipment and assets to identify patterns and problems that lead to failures. Azure Machine learning helps predict when maintenance is required, and identify cost consolidation with PowerBI visualisation dashboards. With MOQdigital, IoT solutions are easier and more accessible than ever before.

Ask us how to make the most out of your IoT journey, and discover how Predictive Maintenance can shape your business for the better.