1 up Up next 11:40am (US Eastern) 10:40am (US Central) 9:40am (US Mountain) 8:40am (US Pacific) Transform your data into strategic business value with predictive analytics Moderator: Lucian Fogoros, IIoT World Speaker: Serg Posadas, Clockwork Solutions Ask a question! Use the chat tool or tweet using #iiotvirtualconf
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10:40am (US Central) 9:40am (US Mountain) 8:40am (US Pacific) · Receiver Operating Characteristic OBE e t 0.90 0.00 0.20 0.60 0.80 1.00 b 0.5602 0.5608 Area Receiver Operating Characteristic
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1
up
Up next 11:40am (US Eastern) 10:40am (US Central)
9:40am (US Mountain)8:40am (US Pacific)
Transform your data into strategic business value with predictive analyticsModerator: Lucian Fogoros, IIoT WorldSpeaker: Serg Posadas, Clockwork Solutions
Ask a question!Use the chat tool or
tweet using #iiotvirtualconf
2
3
You’ve never had more data on your strategic assets
• historical data on operations, maintenance, and inspections
• real-time and sensor data
• digital and virtual asset models
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But data ALONEprovides NOstrategic VALUE
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gathering data+ predictive modeling+ actionable insights= Strategic Value
Transforming data into timely insights and relevant actions
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“million dollar” questions
• How can I improve total effective equipment performance?
• How do I get the most value out of my assets?
• How do I avoid costs when operating and maintaining my assets?
• How do I best manage spare parts to keep my assets running?
• How do I best design my operation to employ my assets?
• How do I maintain optimal uptime and asset-generated revenue?
…So you can answer these
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Rear-facing BI is not accurate
Historical business “intelligence”is looking back at historical data
in attempt to react.
What Just Happened?
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…buthow do you get the right answers?
traditional analytics predictive analytics
• rear facing
• helpful after the fact
• reactive
• forward looking
• provides warning and actionable insight
• supports well-developed strategies
• quantifies risk
traditional forecasting
• tied to historical data
• doesn’t account for operation changes
• can’t anticipate dynamic environment, aging, etc.
Stra
tegi
c va
lue
? •
What just happened?What will happen?
What should we do?Most solution providers
Next gen predictive analytics
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Traditional forecastinganalytics
• Limited to historical view
• Can’t include future events, policy changes, evolution of business environment
• Does not measure risk
• Very likely to incur greater costs or more down time
• Lacks ability to support strategic planning
Traditional forecasting trades accuracy for ease of implementation
?
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Predictiveanalytics
• Insights well beyond rear facing analytics
• Historical data only defines starting point
• Models future events for each asset and its components
• Simulates operations hour by hour, including failures, repairs, shipments, part buys, refurbishment, retirement, obsolescence, etc.
• Provides a holistic view of complex scenarios
Predictive analytics provides a higher degree of accuracy
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Predictive analytics is determiningindustry leaders Within the next five years, advanced implementation of
Industry 4.0 will become a ‘qualifier to compete’ and is also likely to be seen by investors as a ‘qualifier for funding’.
Industry 4.0: Building the digital enterprise, PwC 2016 Global Industrial Survey, April 2016