Predictive analytics software will soon be able to prevent breakdowns in hardware before a problem even occurs. This technology has the ability to save companies millions of dollars in infrastructure costs.
Instead of waiting for a product to break before dispatching service personnel, Yarnold says, predictive analytics informed by machine learning algorithms will be able to dispatch service personnel to prevent problems from occurring in the first place.
“Any unplanned downtime can now be avoided,” says Yarnold.
In addition, Yarnold says predictive analytics will also change the way equipment is acquired because organizations will have a much better sense of when equipment needs to be replaced. Today, most organizations replace equipment on a fixed schedule regardless of whether that equipment is still capable of functioning.
To further its analytics ambitions, GE Digital also announced this week it has developed a wave of additional Predix applications aimed at various vertical industries, in addition to creating Avitas Systems, a company that will employ predictive data analytics, robotics and artificial intelligence (AI) to deliver inspection services to the oil and gas, transportation and energy industries.
Forward thinking applications of analytics like this will become more prominent as technology advances. When this technology debuts in the fall, GE’s ServiceMax division will have a competitive edge in IT service management.
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