Case studies in using consumer analytics with PHM strategy

Abstract

As part of the "Digital-Industrial Revolution", the world isseeing the rapid transformation and digitization of theworld's energy value network-from generation, throughtransmission &distribution, to end user consumption. Thisnew paradigm comprises of new business products andservices built on data flows that accompany energy flows;where the insight gained from sensors and analytics drivesbetter decision making and customer outcomes. This is whatdrives the digital strategies of Original EquipmentManufacturers of large industrial assets like power plants, oil&gas equipment, aviation fleets, etc.In this paper, we look at how analytical methods originallydeveloped in the consumer industry can be applied toindustrial data. This helps guide the development ofPrognostics &Health Management strategies that are tunedto customer preferences and value models, in addition toengineering inputs. These methods complement, rather thanreplace, FMEA-driven strategies that are traditionally used inPHM systems design.