Keywords: Analytics, Big Data, APM, EAM, CPM, Health & Safety.
Production operations and asset management include several domain areas; each with an ecosystem of users, software applications, suppliers, integrators, and metrics. Within each domain, or "silo," functions are usually performed smoothly and efficiently. However, where business processes extend across individual silos — such as across asset manage-ment and operations management — there's often significant inefficiency and waste.
ARC Advisory Group's asset performance management (APM) model covers the need to share information across asset management and operations management functions. This collaboration provides visibility for new opportunities to optimize asset availability.
Each APM application has its own rich set of "big data," usually encompassing both real-time and historical activities. Implementing analytics across these data offers new opportunities for business process optimization. Each application within APM has its own report generation and analysis tools. Analytics provides added value when applied across multiple domains.
When implementing analytics, ARC recommends organizations start with smaller pilot projects with clear business benefits. For these pilots, focus on the "good" data and on obtaining clear results. Filter out bad data rather than having resources expended fixing data quality issues and extending the project. As success builds, so will the resolve to fix data quality issues.
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