Advantages of Asset Performance Monitoring | ONETech
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The Advantages of Asset Performance Monitoring

The Advantages of Asset Performance Monitoring

12 Jun 20

Asset Performance

The Advantages of Asset Performance Monitoring

Asset Performance Monitoring (APM) using MicroAI™ provides useful information to an end user and eliminates human error. This article will introduce APM and describe how MicroAI™ can be used to detect asset-performance anomalies. It will build a good foundation for any new developers who are just starting to learn about AI and machine learning. We will highlight a simple use case as well as discuss the disadvantages in monitoring assets without the benefits of MicroAI™.

The Scalability of APM

APM can be done on large scales such as factories and greenhouses. It can also be implemented on small scales such as monitoring coffee pots, microwaves, computers, and any other IOT-enabled device. Using APM on non-IOT devices is also possible. This means that APM can be used to monitor the performance of virtually any type of asset. This scalability and flexibility will be important as the use of IoT devices continues to penetrate virtually every industry and market segment.

A Simple Use Case

Let’s look at an older version of a refrigerator; one that only needs electricity to work and that does not rely on smart devices. We can use a sensor to monitor the temperature inside the refrigerator. Once the sensor is implemented, we can then utilize MicroAI™ to monitor the refrigerator’s performance and detect any anomalies. Now that we are monitoring the temperature, we can code a script to notify us if the temperature falls below the desired value. This notification can be come in a variety of forms: text message, an email, or a beeping alert.

APM combined with MicroAI™ provide endless possibilities for improved management and control of virtually any type of asset. Why is that important?

The Advantages of APM and MicroAI™

In the refrigerator example discussed above, the integration of APM with MicroAI™ provides some tangible benefits. Those would include:

  • Elimination of errors associated with human monitoring and manual measurement
  • Less reliance on human monitoring and reductions in the number of support staff
  • Increased speed of processing incoming data and implementing appropriate action
  • Ability to provide 24/7 asset monitoring regardless of time or asset location
  • Improves the overall performance of the assets being monitored resulting in improved operational performance and cost reductions
  • Higher levels of customer satisfaction due to improvements in the performance of field assets
  • AI and ML capabilities that enable predictive analytics and promote longer asset life cycles.
  • And much more…..

 

The information above provides just a basic view of the benefits of combining the principles of APM with the cutting-edge technology of MicroAI™. We covered only one type of device (refrigerator) but the principles discussed would apply to a whole host of IoT-enabled devices. As the number of IoT devices continue to grow it will become increasingly critical to implement solutions that will provide automatic management of those devices. APM and MicroAI™ are leading the way.