We all know that the maintenance schedules and failure rates often differ and quite frequently we either need to reduce the interval between regular maintenance or even send assets for emergency repairs. With Big Data and IoT maintenance planning and failure rate prediction is now much easier and the companies who use the benefits of these concepts are improving their maintenance schedules, reducing the costs and downtimes therefore winning over their competition.
With the addition of agent-based simulation, the machine learning and deep learning algorithms could be expedited, and the maintenance predictions made as lose to the real life as possible, as we can simulate the behavior of aging assets and new workforce behavior, or the introduction of cutting edge technology to aging workforce, something which is not in the user manuals, but it is omnipresent in today’s industry.