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Maximize operational efficiency with AI, analytics and predictive maintenance

More than 57 percent of operations companies only fix assets as they fail – or don't do anything beyond following regular maintenance schedules.1

IDC Predictive Maintenance Brief

This IDC Industry Brief, discusses why traditional maintenance approaches are wasteful and how asset performance management (APM) lowers maintenance costs, reduces risk of equipment failure, and increases asset availability.

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APM systems collect real-time data, predict equipment or asset performance and potential failure. By analyzing that information with artificial intelligence (AI) and advanced IoT analytics, an APM system supports an asset management strategy that can potentially:

  • Increase asset availability by up to 20 percent,
  • Reduce maintenance labor costs by up to 20 percent, and,
  • Increase mechanical efficiencies by up to 10 percent.2

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  • 1 IDC, Maximizing Operational Output with OpenText Magellan, August 2019
  • 2 Ibid
IDC Predictive Maintenance Brief

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