Transformative maintenance engineering and business solutions for industrial assets

Abstrakt: The on-going digitalization of industrial assets and processes provides enormous capabilities for the asset managers to collect vast amount of data and information (i.e., Industrial Big Data), from the assets in operation. During the last few years, the focus has been to find transformative maintenance technology and business solutions for these assets, which will ensure safe and failure free operations at the lowest possible maintenance cost. Such solutions should make the use of assets possible with almost no risks. This real time data driven approach to manage railway system is expected to transform the way physical assets are operated and maintained ensuring increased reliability and quality of service, increased capacity and reduced life cycle costs for the asset. To get useful information out of high volume of data generated by railway assets, advanced tools are developed and implemented so that data can be systematically processed into information and facilitate decision making with more information. These developments are increasingly enabling safe and efficient operations of engineering assets and paving way for new industrial business models. These technologies such as Virtual Reality (VR) , Augmented Reality(AR) , Big data analytics (predictive and prescriptive analytics), Industrial Internet of Things(IIoT) , 5G communication technologies that offer near perfect solutions (even in real time) for the maintenance of the ageing railway assets, are collectively termed as transformative technologies. Such transformative technologies facilitate or expected to facilitate correct decision making and actions at the lowest possible cost using the power of predictive and prescriptive analytics by engineers and assets managers. Such solutions are expected to support the digital transformation journey and stated business goals The talk will be centered on the capability of enabling technologies that will facilitate successful implementation of the transformative technologies for the effective maintenance of engineering asset using the power of data driven approach and by addressing the associated challenges.