A guide to mitigating risk and increasing value with advanced data analytics
If you’re a plant operator, manager or other decision maker, you’ve been gifted with an unprecedented opportunity to drive innovation at your plant. Just proceed with caution.
The landscape has changed. Infrastructures have grown in size, complexity and geographic distribution, increasing your potential points of failure and introducing greater risk to the operation. The good news is that artificial intelligence fueled technologies for asset performance management (APM) and advanced analytics have never been more accessible and affordable, giving stakeholders like you a cost effective, future-proof solution for increasing efficiency and mitigating risk across your distributed infrastructure.
So how do you get the ball rolling on an advanced analytics investment? What questions should you ask potential vendors? How do you get your team to buy into a new direction? This eBook helps you with these questions and more.
Early Signs Your Analytics Solution is Working
The months following a new rollout can be a roller coaster. It’s exciting to see the technology in action and gain new insights about your infrastructure, but you’re also aware of the stakes of the investment. For this reason, every “win” counts and should be celebrated with your fellow stakeholders.
How to Secure Analytics Funding
If you’re advocating for an analytics solution, you realize that predictive analytics can increase efficiency and support decisions that drive business. But explaining those benefits to stakeholders, who are laser-focused on increasing the bottom line, is another story.
To some, analytics may seem like “nice information to have” but fail to recognize its mission critical value. If your decision makers are cold to the idea of an analytics solution, we’ve developed a step-by-step guide to increase the temperature.
Five Ways to be an Advanced Analytics Champion
As a stakeholder in a new analytics investment, you have a responsibility to be its champion. A common mistake many champions make is rushing to address the technicalities of their project first—How are we going to integrate this platform with that one? What mathematical algorithms should I use? How will I access the software?
While asking these questions is important, you may risk brushing past another key component to maximizing the value of your analytics solution: your people.
Four Questions to Ask Your Analytics Vendor
No matter the maturity of your analytics deployment, vendor evaluation is an inescapable process. Even if your organization is not actively soliciting quotes and demonstrating platforms, you probably will be when your data volumes spike or user needs evolve.
To help simplify the process and differentiate between prospective vendors, here are four questions (and accompanying drilldown questions) every CIO should ask during the evaluation process.
You Found Your Analytics Solution, Now What?
Expectation setting is a critical part of any rollout. No matter how much your stakeholders bought into the project during the planning process, expectations often have a habit of resetting once the money’s been paid and the work is underway.
To help you continue to be your team’s analytics champion, we’ve broken down key considerations to help you proactively reinforce expectations for your new solution’s rollout.
Learn more in our ebook, "Building the Business Case for Asset Performance Management."