A Practical Approach to Improving Asset Health & Equipment Reliability with Dashboards

Asset Health Dashboards
In today’s world of Asset Management, digital data is an increasingly important part with many Asset Health challenges becoming visible. The digital connectivity allows for problems to be solved using an increased amount of information available from sensors and instruments. The real-time data capability is an advancement in many aspects, but still has opportunities for improvement, particularly if you’re looking to understand and improve equipment Reliability, Availability, and Utilization.

I have highlighted the four main challenges that I have encountered recently working with Asset Health customers.

Challenge 1. Contextualization.
Many customers have so much data available it can be hard to decipher what’s important for Asset Health. With a heavy focus on data lakes, and collecting just about everything can make it confusing. In reality, most of the real-time connected data still needs to be contextualized to add value. By this, I mean we need to assess if the information is useful, determine if its an indicator of Asset Health, and if so, understand what is it telling us about the Health of our Assets?

Challenge 2. Discrete Systems.
More often than not, there are multiple discrete software systems, databases and instruments that many customers have to analyze or consult to understand the Health of an Asset. This can be time-consuming, complex and labor-intensive and often gets overlooked. A common question from customers is how can we bring this information together?

Challenge 3. Manual Data.
It feels like Manual Data is a “dirty word” in today’s digital environment, but the reality is manually collected an entered data is still very important, and will be for some time. The business case to make everything digital doesn’t stand up in all environments, and ignoring the excel spreadsheets, manual walk around reports, renders the Asset Health data set incomplete, and limits the understanding of the Asset.

Challenge 4. Visualization.
The final piece in the challenge I have recently encountered, is many customers struggle to present Asset Health data in such a way that it allows everyone to use it. Asset Health data is particularly important as depending on the source system, it can be slow-changing taking months to move, or rapid-changing occurring in real-time. It is important to display the information where everyone can access it, and it’s maintained up to date.

The Asset Health Dashboard Solution
A simple way to solve these challenges is by using the Asset Health Dashboard Solution. It is a cost-effective software agnostic solution, that integrates with any software systems on site. It is simple to use, incorporates reliability concepts such as the PF Curve for contextualization, provides out of the box root-cause analysis, and clear Visualization via Dashboards of the Asset Condition. I find it ideal for heavy industry. To learn more visit the link below.