Asset Performance Management Predictive Analytics Enables up to a 30 % Reduction in Maintenance Costs

Editor: Gabriele Ilg

At a Monday afternoon press conference, Awraam Zapounidis, sales director, Manufacturing at GE Intelligent Platforms introduced the company’s Asset Performance Management (APM) solution for the chemical process industries. GE’s APM solutions improve asset health by providing early detection of emerging equipment failures at chemical production facilities, paving the way for a new level of quality in predictive maintenance of critical assets.

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Ultimately, we want to enable the shift from reactive to proactivce management of assets, says Zapounidis.
Ultimately, we want to enable the shift from reactive to proactivce management of assets, says Zapounidis.
(Picture: Ondrey)

Up to now, there have been many examples of condition monitors, but over time you need to re-learn what is happening, said Zapounidis. Also, there are a large number of disconnected information silos. “The information needs to be ‘pushed’ to the user,” so they have it at their fingertips in the field, he said.

To achieve this, traditional data analysis is replaced with algorithm-based, predictive analytics. This means actual values are continuously compared to a set of previously determined reference values (Teaching Process). Indicators of emerging performance issues at critical assets in the production process are thus detected days to weeks before a potential equipment failure would lead to unplanned downtime.

Even the smallest anomalies shown by discrepancies in the data are immediately transformed into actionable insights. This allows for the predictive maintenance or replacement of pumps, valves, turbines and other critical assets before an equipment failure can cause outages.

The end result: instead of reacting to a problem, with very little time to respond, the system enables a proactive approach, whereby there is time for the maintenance to respond and fix the potential problem before it happens.

Existing data can be collected more efficiently, analyzed more intelligently and made available to plant management and maintenance staff in realtime, in the form of concrete, actionable insights. “This APM solution can improve asset utility, product and, ultimately, profit margins,” he said. “Realtime information about the performance of a facility — evaluated by the latest predictive analytics and accessible via mobile devices — allows what plant managers could only dream about: the ability to detect problems before they occur,” says Zapounidis.