From descriptive to predictive: evolving your asset maintenance strategy

The case to evolve

If you work in asset management, you’re likely faced with a common scenario: declining investments and infrastructure. As assets pass the end of their useful life, they continue to get maintained—not replaced.

By forgoing purchasing new assets, the capital dollars to replace those assets are reallocated. The responsibility to pay for the maintenance now shifts to operational budgets, which are now stuck in perpetual reactive mode.

It’s cyclical and costs organizations a lot more than replacing assets that have survived past their intended lifespan.

The key to unlocking better asset optimization and maintenance is data and how you use it. Today, we’re exploring:

The states of maintenance

The types of asset analytics

How organizations can evolve their strategies to break the cycle