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Predictive maintenance will save companies $630bn. But exactly what can it do for you?

Predictive monitoring and maintenance: putting IoT to work

February 23, 2017 10:00 am GMT

The Internet of Things (IoT) may not have reached every household fridge, but in the area of predictive maintenance, transformation is happening at pace – and the numbers are adding up.

According to McKinsey, predictive maintenance will help companies save $630 billion by 2025: “[It] could reduce maintenance cost by 10 to 40 per cent by fostering better maintenance. It also reduces downtime by 50 per cent, and lowers equipment and capital investment by 3 to 5 per cent by extending machine life.”

For manufacturers, retailers, utilities, etc., this is critical. Increasing pressure from foreign and domestic rivals means maximising asset performance and controlling maintenance and operations costs. Your equipment needs to be available to meet customer demand 24/7, and every advantage is competitive.

How well are you managing control of your assets? And how much visibility do you have into where the bottlenecks, costs, and opportunities lie? Join five other senior BI, maintenance and operations executives and thought leaders on this essential roundtable as we talk predictive maintenance and business transformation.

Discussion Points

  • How predictive maintenance can lead to business transformation
  • The key skills to deliver predictive maintenance solutions
  • Performing predicative maintenance without new sensors
  • Predictive maintenance and analysing failure mechanisms
Ben Thompson
Moderator
Ben Thompson
Editor and Presenter at MeetTheBoss TV
Colin I'Anson
Industry Expert
Colin I'Anson
HPE Fellow