Leveraging Maximo Asset Management to address Top 5 EAM Trends

Asset-intensive companies evaluate and acquire EAM solutions to develop and implement effective strategies to cut operational expenses and augment production efficiency.

A recent report by Statistics MRC expects the global EAM market to reach $6.83 Billion by 2022 with an 11.1% compounded annual growth rate. Data Analytics, connected devices and enterprise asset management solutions are changing the way asset maintenance is performed – shifting from reactive maintenance towards condition monitoring (CM) and predictive maintenance (PdM). Let’s talk about how Maximo asset management is addressing the top 5 EAM trends.

  • Maximo Integrates with IBM Watson IoT
    Along with the standard pre-packaged integration solutions, IBM Maximo integrates with IBM Watson. This integration helps you improve your performance outcomes with connected operations and devices, putting big data to work for you and improving ROI by listening to your machines. IBM Watson Analytics delivers better insights about the physical health of various assets for any asset-intensive business. Sharing this information within IBM Maximo – a single seamless asset management platform – offers a complete overview of your asset portfolio through Maximo Asset Health Insights (MAHI), available in Maximo 7.6.
  • Artificial Intelligence and Maximo – Are you listening to your machines?
    Artificial Intelligence (AI), or cognitive computing as IBM calls it, augments human intelligence to monitor machines more accurately and generates preventive maintenance actions. Artificial intelligence, along with advanced analytics and robotics, is creating potential game changing possibilities for asset-intensive industries. IBM visionaries and EAM experts dub these changes as cognitive maintenance – the science of accessing data from connected devices, combined with prevailing service knowledge and other external data – all to interpret the machine/device language. Watson’s analytics trigger cognitive maintenance data to syndicate Maximo’s core capabilities – real-time asset condition monitoring and reliability data – so reliability engineers and maintenance professionals can make informed and timely preventive maintenance actions.
  • Automated condition assessment within Maximo
    Through MAHI, reliability engineers can automatically calculate asset conditions using measurements and observations recorded during their equipment assessments. After configuring a scoring system and creating condition drivers, engineers can track the overall asset health score to determine preventive actions. MAHI maintains historical readings in the Watson IoT historian for future reference.
  • Maximo Industry Specific Solutions
    IBM offers a rich catalog of industry specific solutions within asset management. For example, Maximo offers: health, safety and environment manager; linear asset management; spatial asset management; calibration; asset management scheduler; and asset configuration manager solutions that target the mining, oil and gas, utilities, power, transportation, health care and aviation markets.
  • Scalability with Maximo
    IBM Maximo has extensive product offerings and technological capabilities to support EAM functionalities. With Maximo SaaS to address Cloud, Maximo Everywhere and Anywhere for Mobility, or integration with Watson to address IoT, Maximo is addressing the needs of the EAM market. With asset registry on block chain, Maximo offers a secure and transparent means to track all asset transactions through IoT devices across the business network.

What’s the value of integrating IoT with Maximo asset management?

– Reducing unplanned downtime
– Integrating IoT to monitor asset health conditions
– Minimizing asset failure
– Maximizing use of resources
– Increasing asset reliability
– Reducing inventory cost
– Managing safety & risk
Integrating Maximo asset management with IBM Watson IoT allows you to improve your performance outcomes while managing your full asset portfolio through a single solution.

As a leader in Asset Management software, IBM Maximo not only addresses the needs of most businesses today, but also accommodates future trends. With this forward-looking mindset, Maximo is proactively delivering innovative technologies and rich features to tackle the ever changing expectations of its users.

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