In today’s energy sector data flows faster than ever and can be the key to companies realising gains and efficiency. However, many organisations struggle to turn vast amounts of information into actionable insights, leaving them bogged down by analytics that don’t drive real change.
Take predictive maintenance, where data analytics, machine learning, and sensors monitor equipment performance in real time, identifying potential issues before they cause failures. Done correctly, this can hugely reduce downtime and repair costs. But at present, those gains are largely untapped.
How to unlock that potential and turn it into positive gains for your company will be the focus of an exclusive webinar in December. Matt Kirchner, Chief Product Officer of Prometheus Group, will share vital insights on the strategies and tools that can see predictive maintenance revolutionising a company’s efficiency. He will demonstrate how using Prometheus Group’s smart tools can result in a myriad of savings and drive revenue across your company.
How can Prometheus Group help your operation?
© Supplied by Prometheus GroupPrometheus Group is at the forefront of developments in predictive maintenance. With AI and machine learning at its core, its solutions simplify the steps from detection to action.
Matt explains: “Predictive maintenance often feels like an overwhelming task, but we have ways of making that much easier and actionable. It’s not a big organisational change.
“We have ways to templatise and automate the creation of machine learning models. Rather than a data scientist sitting down and combing through a bunch of data and manually adjusting one piece of equipment before moving onto the next one, we can automate that so that we’re building thousands of predictive models. You can do the same with a single button click as is usually done over a period of many months.”
What truly makes the process different is the data doesn’t just inform, it drives action.
Matt continues: “A lot of analytics tools fall short of driving action because they’re just analytics tools. They aren’t really moving someone through a process. We have something we call Detect, Diagnose and Resolve that helps teams move seamlessly from recognising a change, to understanding why it occurred, to taking corrective action.”
The tools that can make a difference for your company
© ShutterstockTo achieve its aims, Prometheus Group uses a range of smart tools that streamline communications and take you through the three-step process. It starts with its Smart Filter algorithm that lets you know which alerts are important and which aren’t.
Matt explains: “The concept is that if you create thousands of predictive models, you’re going to get quite a few alerts at any point in time. There are going to be some alerts telling you actionable things and some that are just weird things that happen in the process. The Smart Filter is a classification algorithm that has learned from historical user actions. So, when a user has looked at the alert trend and said, ‘I’m going to suppress that one,’ or ‘I’m going to escalate that one,’ we’re able to take those historical actions and filter the list of alerts down to just the actionable ones.
“The second step is more of a diagnosis process. We have a chatbot feature where people can say, ‘Tell me some possible causes of this change in the process or in the reliability of this equipment,’ or ‘Tell me what I might do next to further understand this problem’. The chat feature allows people to interact with AI to understand the cause and next steps of the alert they’re looking into.
“Finally, we have a feature that automatically creates the communication that then gets sent out to the wider group. So, it documents what happened, what might be causing it, and the next steps we suggest you take.”
What are the gains for my company?
Prometheus Group’s predictive maintenance tools provide clear benefits for companies in the energy sector. Streamlining the maintenance process results in reduced downtime, which in turn drives greater productivity. There is less waste of input materials such as electrical power. water, chemicals, or crude oil. Preventing equipment from failing keeps the plant running, thereby generating revenue while avoiding costly repairs.
For Prometheus Group there is the benefit of seeing their clients’ reaction.
Matt adds: “It’s nice helping people understand that things don’t have to be so complicated. People tend to think this whole problem is challenging to solve, so they take challenging approaches to solve it. So, it’s nice to see light bulbs go on when we’re showing them our process.”
Don’t miss this opportunity to learn how you can transform your maintenance program. Join Matt Kirchner on December 11 to discover how predictive maintenance can work for you and take a decisive step towards operational excellence.
