Reducing Asset Inspection costs through Digital Transformation

by | Apr 24, 2020 | Blog, Optelos Blog | 0 comments

We hear a lot about Digital Transformation today and how it can apply to virtually every part of a business’s operation.  It’s a broad category with a wide range of definitions, but one that seems to sum it up well is the Wikipedia definition;  “Digital Transformation is the use of new, fast and frequently changing digital technology to solve problems”.  As it relates to Enterprise Asset Inspection and Maintenance, there has been a huge influx of new and fast changing digital technologies such as aerial data from drones, laser scans, thermal imagery, IoT sensors, Artificial Intelligence and more that are now becoming available.  So, the question is, how can these fast emerging technologies be leveraged to digitally transform Asset Inspection and Maintenance processes to solve problems more effectively and at a lower cost?

As for most complex issues, the answer lies in the data.  It’s only when the data from these new digital technologies is properly utilized that digital transformation can really begin.  And when applied to asset management, inspection and maintenance processes several new breakthroughs can be achieved, significantly reducing capital and operating costs.

When starting a digital transformation journey, the first and most critical step is establishing a data management platform that can support current needs and scale as new opportunities are identified.  The components of such a data management platform is as follows:

Ingest

Capability to ingest any type of data, along with associated metadata.  Fixed images, videos, LiDAR, thermal, and other data types.  All of these data sources can be used a identify asset conditions and drive more informed decisions.

Visualize

To achieve continuous improvements, assess changing asset conditions over time or simply correlate various data sources, a robust data management solution is required.   Organizations are also benefiting when these data sets are easily sharable, enabling collaboration from a broad set of experts and key stakeholders.

Analyze

Many new insights into asset heath and changing conditions can be realized when various 2D and 3D models are applied to Asset inspection.  These models also serve as the basis for Digital Twins which can be used for further asset analysis.

Operationalize

Once asset conditions are identified that require action to repair or maintain in some way, it is critical to automatically drive actions using existing trouble ticking, dispatch or other enterprise asset management systems.  In this way the entire process can be operationalized to achieve sustainable results and significantly reduce costs.

When these elements are brought together into a single solution, it creates a “single pane of glass” through which the entire end to end process can be managed.  This serves as the basis for any digital transformation program from which significant asset management cost saving can be realized.

Contact us at info@optelos.com and let us help you start your digital transformation journey and see how you can realize significant cost savings in your asset management programs.

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