(MENAFNEditorial) Project Wins Around Asset Performance Management
Machine Learning and Prescriptive Analytics Machine learning and advanced pattern recognition play a central role within Schneider Electric's asset performance solutions, enabling customers to more accurately predict and proactively resolve issues before they impact their business. According to the press release, this increases reliability, reduces costs and improves safety. Duke Energy prevented an estimated $35 million cost from early warning detection of a steam turbine problem. Ascend Performance Materials now responds faster to alerts with actionable intelligence, saving an estimated $2 million through avoided plant shutdowns alone. As part of the expansion of Schneider Electric's cloud platform, these predictive and prescriptive maintenance capabilities can now be implemented in locations where it previously was not economically feasible. Augmented Reality (AR) Innovative companies are changing how they run their business with Schneider Electric's AR as an integral part of their APM strategy.
In the chemical industry, BASF is implementing AR to improve asset performance, reliability and utilization while increasing production efficiency. During maintenance work execution, technicians reportedly can now leverage an augmented digital representation of the asset to improve efficiency and safety. The digital asset model captures years of experience and expertise which empowers the new workforce. Cloud and Hybrid Deployment Schneider Electric offers commercial and technical flexibility to address every customer need, delivering solutions through a range of deployment models (cloud, hybrid, on-premise) and commercial purchase options (subscription, SaaS, perpetual).
WaterForce partnered with Schneider Electric to develop an IIoT remote monitoring and control system in the cloud that helps farmers to operate irrigation pivots with greater agility, efficiency and sustainability. Ralph Rio, ARC Advisory Group, commented, "Industrial IoT (IIoT) and Industrie 4.0 provide new opportunities to improve overall business performance, particularly for APM. For owner-operators, this includes operational improvements largely involving improved asset reliability. Users have reported that moving from preventive maintenance to predictive or prescriptive approaches provided a 50 percent savings in maintenance labor and MRO materials. With predictive and prescriptive maintenance, near-zero unplanned downtime for critical equipment can be achieved."
About Schneider Electric:
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.
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