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In this special guest feature, Mike Brooks, Senior Business Consultant at AspenTech, discusses how companies can no longer rely solely on traditional equipment maintenance practices but must also incorporate operational behaviors in deploying data-driven solutions using machine learning. For example, a North American energy company was losing up to a million dollars in repairs and lost revenue from repeat breakdowns of electric submersible pumps. In another case, a leading railway freight firm operating across 23 states in the US used Machine Learning to address perennial locomotive engine failures costing millions in repairs, fines, and lost revenue. Companies can no longer rely solely on traditional maintenance practices but must also incorporate operational behaviors in deploying data-driven solutions.
Aug-11-2017, 00:05:40 GMT
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