Intelligence driving value
The nature of asset management depends increasingly on intelligence and insight from data. New technologies are transforming how asset information is collected, collated and analyzed, providing a foundation for utilities to run operations in a completely new way from an “intelligent hub.” Physical distance between assets is less of an obstacle to operational efficiency, with devices now capable of remotely monitoring and transmitting asset data in real time.
In today’s transforming sector, utilities are increasingly challenged to make decisions based on intelligent asset management that fully grasps the relationship between asset cost, risk and performance, and the entire organization and supply chain. This holistic approach provides executives with vital information to understand, manage and exploit asset portfolios, gain greater control of costs, reduce risks, and improve customer and shareholder value.
Organizations that undertake improvement initiatives in asset management can reap significant rewards — boosting productivity and cutting down on maintenance and renewals costs, equipment downtime and costly reactive work.