- Posted by Darren Steele
- On April 28, 2017
- automated machine learning, predictive monitoring of industrial equipment, maintenance cost reduction, mtell machine learning, prescriptive maintenance, Predictive Analytics
How much did your last unplanned outage cost your business? With all the data we have, why don’t we see trips and failures coming? Losses from equipment failure are estimated to cost industry more than one trillion dollars per year. How much longer can your business absorb such losses and remain competitive? By the time you receive traditional alarms or trips, the damage is already nascent. The winners in the new age of data are using Mtell prescriptive maintenance from AspenTech.
Here are five ways Mtell reduces risk to your people, plant, and profit.
1 Continuous reliability improvement
This requires much more than simplistic monitoring of single variable limit exceptions used for traditional condition based maintenance. Mtell is simple to setup and to maintain, leveraging your existing data infrastructure and sophisticated machine learning techniques to provide total equipment insight and decision support for continuous reliability and maintenance improvement.
2 Early warning of high potential equipment failures
Mtell uses robust data cleansing and Machine Learning algorithms to predict failures much earlier than conventional condition monitoring tools. Mtell adds protection from process-induced degradation to current maintenance practice, helping to fill competency gaps with a speed of deployment leading to a short time-to-solution.
3 Mtell Prescriptive Maintenance
Anomaly event detection of conditions that exceed perceived normal conditions will not prevent outages. Mtell avoids the burden of simple limit set management & resulting mayhem, and provides early detection of how and when an asset will fail providing guidance to answer the questions: “What can we do and what should we do to avoid the breakdown?”
4 Reducing Maintenance costs. Avoiding catastrophe
When maintenance costs represent up to 40% of your OPEX budget, Mtell provides scope for significant savings by helping to reduce unnecessary routine maintenance, increasing operating intervals and reducing unplanned outage asset repair or replacement expenditure.
5 A digital equipment expert, running 365/24/7
Mtell is not a kit for experts, it is a relentless operator and engineer using mass data analytics to monitor asset condition around the clock, anticipating situations and advising how to avoid failures, driving out unplanned outages & maintenance.
Please contact IT Vizion, your AspenTech Implementation Services Partner, to take the next steps to High Reliability Organization (HRO).