Anticipate change to optimize asset performance

When demand and prices fluctuate, it is important to be able to anticipate different business scenarios and to manage the assets we rely on every day in a optimal manner. In the short term the changing parameters affect short-, mid- and long term decisions regarding asset utilization and asset investments. Long term and on a wider scale, this should also affect the asset investment planning, especially considering the often aging asset base. Based on projected scenarios, choices have to be made to either keep the assets in play in a reliable manner or to decommission the assets. The lifecycle and investment plans for assets should harmoniously contribute to the long-term organizational targets.

For asset related industries the linking pin between connected assets, the connected workforce and other systems is business logic and business value. Through smart algorithms and Artificial Intelligence a power plant or utilities company can make short-, mid- and long-term decisions about how best to sustain and expand their asset infrastructure in an informed way. Business logic can be seen as an extra layer over the asset condition combined with weather conditions as well as market conditions (price fluctuations for instance). Based on those factors and others, the logic can simulate scenarios and trends to find the best way to go forward based on the organizational budgets, targets and KPIs.