May 6, 2021

Predictive analytics: Transforming data into Recommendations

Predictive analytics technologies are being used to revolutionize manufacturing operations across all sectors. Not only manufacturers but these technologies are also being used by Asset Owners to derive values based on their data instead of relying on specific OEM’s to deliver “proprietary” value. Throughout the pandemic, these technologies have also been assisting Asset Operators in managing the lifecycle of critical assets distributed across several geographic locations.

Historically, assets of various types – from those on factory floors to those in the field – have exclusively relied on calendar-based management. This meant that decisions were taken, work orders were scheduled, and pieces were ordered simply because a calendar said it was time, rather than because they were actively managed to provide value.

Reactive asset management is costing businesses millions of dollars. The magnitude of the actual impact is even unknown to most asset owners and operators.

The other issue is the siloed focus on maximizing the throughput of an asset, rather than a focus on building end-to-end intelligent operations that cut across different OEMs.

Predictive and prescriptive analytics technologies leverage artificial intelligence (AI) and advanced analytics to develop intelligent operations. These technologies allow manufacturers, owners and operators to predict the operational impact to an asset, the line, the floor or to a location. Here is how Makoro™ leverages predictive and prescriptive technologies in building intelligent operations.

Makoro™ Edges connect with assets and devices on the front end and communicate with Makoro™ Hub on the back end. It transmits machine and process data such as flow rate, oil and water temperatures, vibration measurements, and machine operating hours.

After that, this data is combined with data from different operations and business sources. This is accomplished through Makoro™ Bind, the connector’s interface. After that, it is analysed using a combination of market rules and Makoro™ Mind’s predictive, Al-powered algorithms. While Makoro™ predicts a possible issue, it also does a root cause analysis of the issue. Further, it proactively generates maintenance requests, schedules and assigns the requests, and makes duration, fix and parts recommendations. As data flows through the Hub, Makoro™’s continuous intelligence delivers “unexpected” predictions, insights and recommendations.

Makoro™ learns and evolves as customers engage with the recommendations. And gradually establishing a “golden” operations workflow in which asset management actions are data-driven, traceable, and have been validated by the customer’s workforce.

Through deep-domain artificial intelligence, Makoro™ delivers a rapid time-to-value for customers. It results in higher asset uptime, lower cost of operations, lower maintenance costs and higher workforce adoption.

The ability to anticipate is the competitive advantage in the fast-paced #Industry40 adoption and Makoro™’s #PredictiveRecommendations give you that edge.

MakoroTM’s dynamic learning framework brings operations management to the next level, allowing sets of validated guidelines with extremely high validity and trust scores to be repeated across several locations to maximise value. So instead of sharing data as reports and dashboards, they share recommendations/prescriptions.

Makoro™’s Recommendations Dashboard tracks asset performance metrics and correlates them to recommendations. Leaders who have embraced Makoro™ have achieved more than 11% improvement in their operations agility.

To get started with Makoro™, sign up for our 10-Day Outcome Challenge.