ARMONK, N.Y., Nov. 6, 2019 /PRNewswire/ -- IBM (NYSE: IBM)
today announced Maximo Asset Monitor, a new AI-powered
monitoring solution designed to help maintenance and
operations leaders better understand and improve the
performance of their high-value physical assets. An extension of
IBM's market-leading IBM Maximo capabilities, this new solution
will help unlock essential insights with AI-powered anomaly
detection and provide enterprise-wide visibility into critical
equipment performance. The result is faster problem identification
that can inform better decisions and reduce downtime.
According to a 2016 report by analyst firm Aberdeen Research,
unplanned downtime can cost a company as much
as $260,000 an hour. A comprehensive view of asset
performance across operations may help reduce downtime, but that
visibility has been difficult to achieve due to fragmented legacy
systems, data silos and geographic barriers. With Maximo Asset
Monitor, organizations can now aggregate data from across the
enterprise and combine it with advanced predictive analytics and AI
to identify operational patterns. Capabilities like AI-powered
anomaly detection can help organizations identify the most
important alerts among the hundreds generated daily from critical
assets. This can help teams respond quickly to the most critical
anomalies and gain greater insights into root cause variables
that lead to asset failure.
"As critical assets become more connected, intelligent and
complex, the model for operating and maintaining them must evolve.
Organizations must move faster to spot patterns and react to
maintenance issues quickly, accurately and safely," said
Kareem Yusuf, Ph.D., general
manager, IBM IoT. "With the launch of the new Maximo Asset Monitor
solution, IBM is helping organizations better understand their data
and automate workflows with preventative, predictive and
prescriptive maintenance actions to help extend asset life and
improve operations. According to IDC, monitoring performance and
scheduling repairs with predictive maintenance can reduce
maintenance costs by 15-20%, improve asset availability by 20%, and
extend the lives of machines by years."1
IBM is recognized by analyst firm IDC as a leader in Enterprise
Asset Management applications.2 IBM Maximo is
deployed across 99 countries, seven continents and used by many of
the world's largest organizations. IBM has a long history of
working with organizations like Novate
Solutions®, Inc. to help monitor and manage their assets and
operational performance.
Novate Solutions leverages Maximo Asset Monitor to expand
process control services
Novate Solutions is an
industrial technology and engineering services firm in
California that is collaborating
with IBM to develop a new, scalable, remote monitoring and support
service for industrial manufacturers. The application of IBM Maximo
Asset Monitor enabled by AI and analytics leverages
existing infrastructure collected from SCADA systems to detect
anomalies to predict system failures. The analysis of data by
engineering professionals at Novate's Support Operations Center
provides insights into the root cause of an anomaly and its process
implications. These experts are able to identify events
that may warrant immediate proactive
intervention which enables maintenance and engineering
support teams to take action before the control system is designed
to react. The ultimate goal of Novate is to improve production
reliability and reduce costly unplanned
downtime.
"Our goal is to revolutionize how industrial manufacturers
utilize data and technology to improve production metrics by
providing a scalable service that virtually every manufacturer can
afford. We are collaborating with IBM to enable this transformation
by leveraging AI technology with IoT data and analytics," said
Rob Mora, executive vice president,
Novate Solutions®, Inc. "The ability to recognize anomalies in
real-time and proactively make changes to operations can have a
tremendous impact on increasing plant reliability and driving
continuous improvement for manufacturers of any size."
Read more about Maximo Asset Monitor here or register
here to join us on November 21
at 11am ET for a virtual event to
learn about IBM's latest investments in our market-leading asset
management solution and what it means to monitor smarter. Visit
the IBM Maximo Hub where you'll find new resources for
developers and architects, including tutorials,
articles, blogs, and code patterns like Visualize
IoT data in dashboards using Python, to help you
quickly begin building the latest IBM Maximo
solutions.
About IBM IoT
As assets become more intelligent, the
model for operating them must evolve. IBM Maximo delivers the
essential insights and experience required to operate and maintain
high-value physical assets. This enables digital re-invention
through optimized performance, extended asset lifecycles, and
reduced operational downtime and costs. Powered by IBM's
investments in artificial intelligence, fueled by IoT data, and
built for hybrid cloud, IBM Maximo is extending its leadership as
one of the most trusted enterprise asset management systems on the planet. And with new
investments in remote monitoring and AI-powered anomaly detection,
it is poised to remain a leading solution for tomorrow's asset
management challenges, empowering Operational Technology (OT) and
Information Technology (IT) leaders with a comprehensive view into
asset performance. For more information please visit
www.ibm.com/products/maximo
1IDC Manufacturing Insights: Transforming Asset
Management at the Edge (doc #. US44976019, April 2019).
2IDC MarketScape: SaaS and Cloud-Enabled
Asset-Intensive EAM Applications (Software Vendors) 2019 Vendor
Assessment (doc #. #US44891419, March
2019).
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SOURCE IBM