Asset Analytix Asset Knowledge Services

Asset Knowledge is extremely difficult to manage because it exists in both your IT Systems and in your people! Knowledge is not knowledge unless it is accessible!

Asset Analytix Inc., as a Reliability Partner in support of the Uptime Elements Reliability Framework and Asset Management System, is demonstrating a suite of analytics services at the RELIABILITY Conference, May 14-16, 2024 in Seattle Washington, that address core challenges faced by organizations aiming for excellence in reliability and asset management.

The solutions provided by Asset Analytix Inc. are not only aligned with the Uptime Elements but also enhance the effectiveness of the Performance Indicators (PI), Asset Knowledge (AK), and Risk Management (RI) elements. Here’s an analysis of how their services resonate with these key components:

Performance Indicators (PI)

Asset Analytix Inc.'s advanced reporting and analytics solutions provide a robust framework for defining and tracking key performance indicators (KPIs) that are critical for monitoring the health and performance of assets.

This capability solves the problem of hours of manual report generation and the limitation of no reporting history. By automating the generation of insightful reports, organizations can easily track their progress against predefined benchmarks, enabling them to make informed decisions swiftly.

Asset Knowledge (AK)

The problem of "lots of data, limited reporting" and "flat reporting, no way to drill down" are directly addressed by Asset Analytix's solutions.

Their tools offer deep insights into asset performance and maintenance histories, enhancing the asset knowledge base within an organization. This capability aligns with the AK element by ensuring that data is not just collected but is transformed into actionable intelligence.

The ability to drill down into reports means that organizations can uncover underlying issues, understand the root causes of failures, and implement targeted improvements.

Risk Management (RI)

Asset Analytix Inc. provides solutions that are integral to effective risk management.

By analyzing data related to equipment criticality, preventive maintenance, and failure histories, their services help identify potential risks associated with asset performance and reliability.

This capability supports the RI element by enabling organizations to prioritize maintenance activities based on risk assessments, thereby minimizing downtime and reducing the likelihood of unexpected failures.

Additionally, the focus on bad actor management helps in identifying and addressing the assets that are most prone to failure, which is a key aspect of risk management.

Solutions to Identified Problems

• Hours of Manual Report Generation & No Reporting History: Automated reporting reduces manual labor and ensures that historical data is maintained and accessible for trend analysis and decision making.
• CMMS Limitations: By extending the capabilities of CMMS through advanced analytics, Asset Analytix Inc. overcomes common limitations related to data utilization and report generation.
• Lots of Data, Limited Reporting & Flat Reporting, No Way to Drill Down: Their solutions enable dynamic reporting with the ability to drill down into data, transforming raw data into insightful, actionable information.
• Time for IT to Support the Reports: The streamlined and automated nature of Asset Analytix's solutions reduces the dependency on IT for report generation and support, making it quicker and more efficient.
• Your Reports Don’t Tell Stories & Poor Data: Through sophisticated analytics and visualization tools, reports become more narrative, telling the story behind the data, which enhances understanding and decision-making. The focus on data quality and integrity also addresses the issue of poor data.

Conclusion

Asset Analytix Inc.'s analytics services, aligned with the Uptime Elements Framework, offer a comprehensive solution to the challenges of managing enterprise asset management programs.

By focusing on Performance Indicators, Asset Knowledge, and Risk Management, their solutions enable organizations to achieve a high level of reliability and efficiency in their operations.

The advanced reporting and analytics capabilities not only solve practical problems related to data management and reporting but also contribute to creating a culture of continuous improvement and excellence in asset management.

Meet the team at The RELIABILITY Conference for some asset management insights your team can put to immediate use.

Another thing we love about the Asset Analytix Team is they think it is OK to have fun while working hard on the Reliability Journey!

I look forward to seeing you at The RELIABILITY Conference

• RAI - The Reliability AI Chatbot