CASE STUDY

40% Reduction in Equipment Breakdown Achieved by a Leading Energy Company through the Implementation of Predictive Analytics

Sep 22, 2016

Business Challenge

The need for an efficient equipment performance assessment solution.

The client wanted to implement an efficient solution that could help them in managing their assets in a better way and reduce losses due to equipment breakdown.

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Situation

Frequent breakdown of equipment and high cost of maintenance.

The client was facing consistent issues with the breakdown of equipment resulting in a high cost of maintenance. They were also having issues with integrating historic and real-time data for early prediction of equipment failure and proactive maintenance.

Solution/Approach

Predictive analytics based asset management solution.

We developed a solution that helped the client in the integration of historic and real-time data from sensors to conduct predictive analytics on the gathered data. The model allowed the client to predict potential asset failures at a very early stage.

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Impact

Reduced equipment breakdown and improved cost savings.

Our solution helped the client in predictive forecasting of asset failure, to implement proactive maintenance rather than reactive maintenance. This helped them achieve a reduction in overall equipment/asset breakdown by 40% and thereby optimize the maintenance costs to a great extent.

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