Case Studies in using Consumer Analytics with PHM Strategy
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Abstract
As part of the “Digital-Industrial Revolution”, the world is seeing the rapid transformation and digitization of the world’s energy value network – from generation, through transmission & distribution, to end user consumption. This new paradigm comprises of new business products and services built on data flows that accompany energy flows; where the insight gained from sensors and analytics drives better decision making and customer outcomes. This is what drives the digital strategies of Original Equipment Manufacturers of large industrial assets like power plants, oil & gas equipment, aviation fleets, etc.
In this paper, we look at how analytical methods originally developed in the consumer industry can be applied to industrial data. This helps guide the development of Prognostics & Health Management strategies that are tuned to customer preferences and value models, in addition to engineering inputs. These methods complement, rather than replace, FMEA-driven strategies that are traditionally used in PHM systems design.
How to Cite
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PHM, Fleet Management, internet of things, Consumer Analytics, Latent Class Analysis
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