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Maximizing Asset Health Using Cognitive Fingerprinting™: in The Near Future Sensors Will Be Everywhere
Maximizing Asset Health Using Cognitive Fingerprinting™: in The Near Future Sensors Will Be Everywhere
Gartner says the Internet of Things (IoT) installed base will grow to 26 Billion units
by 2020, which represents a near 30X increase since 20091. This figure is estimated
to result in a $1.9 trillion value-add in global economic markets and will dwarf the
consumer market.
Making sense out of the rivers of data being generated by these intelligent devices
is one of the key, yet many times overlooked, components of the industrial internet.
Often, the collected data becomes dark data. Dark data is operational
Ineffective maintenance data not being used. According to IDC, most companies document 22
accounts for $60 billion annually, percent of the data they collect, but they can analyze on average only
according to ARC research 5 percent of their data. Not only is the data wasted, but organizations
are paying in bandwidth, server space, inefficient retrieval, and
overhead to maintain this data 5.
There needs to be a better way for plant operators, subject matter experts, CFOs, CIOs, etc. to gain value from these rivers
of data. In many cases, however, the business doesnt have the expertise, the time, or both to derive value from the data.
This is where Machine Learning can utilize computing platforms to gain actionable insight and value from the data.
SparkCognition has been working with one of the largest suppliers of industrial and environmental machinery-pumps,
valves, mechanical seals, etc.,- to take real-time data off of their horizontal pumps and prevent future breakdown.
Invenergy utilizes the SparkPredict platform in order to predict gearbox failures across their fleet. Utilizing Cognitive
Fingerprinting, SparkPredict was able to increase catastrophic failure prediction from a few days to a median lead time
of 37 days with a prediction confidence greater than 90% and no false positives. The algorithm takes 26 features provided
by the customer, transforms those into over 1,000 features, automatically models the data to create failure prediction
signatures, and provides results in real-time. Asking a human to analyze tens of thousands of variables across six years of
data would have been a virtually impossible task.
In addition to these two case studies, the SparkCognition team is utilizing Cognitive Fingerprinting to solve customers
issues in the fields of Finance, Oil & Gas, and Manufacturing.