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Leveraging Maximo data to increase Asset effectiveness & ROI through Analytics

Leveraging Maximo data to increase Asset effectiveness & ROI through Analytics. Presenters: Samir Vyas, Director, Business Development Pankaj Shetye, Sr. Project Manager. Agenda. Data explosion in Maximo Business Analytics – What is it? Growth of Analytics

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Leveraging Maximo data to increase Asset effectiveness & ROI through Analytics

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  1. Leveraging Maximo data to increase Asset effectiveness & ROI through Analytics Presenters: Samir Vyas, Director, Business Development Pankaj Shetye, Sr. Project Manager

  2. Agenda • Data explosion in Maximo • Business Analytics – What is it? • Growth of Analytics • Common Statistical techniques used in Analytics • Challenges of doing Analytics • Readiness assessment questionnaire • Strengths of Maximo data • Success factors • Business Use Cases in Maximo • Interactive discussion

  3. Data Explosion in Maximo

  4. Business Analytics What is it ??

  5. Business Analytics … defined Business analytics refers to: the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Source: Wikipedia

  6. Growth of Analytics

  7. Common Statistical techniques used in Analytics Weibull distribution Regression Analysis Time Series Exponential Smoothing Clustering Decision Tree Pareto Analysis Control Charts Histograms Trend Analysis

  8. Challenges of doing Analytics • Obtaining support from the TOP • Establishing an Analytics culture across the organization • Hiring and retaining right people • Creating a single enterprise wide analytics initiative • Models are difficult to build and maintain • Using the right technology

  9. Readiness assessment questionnaire Are we on a shaky foundation? Are we using analytics – really? Do our people even want a data democracy? Are we measuring the right things? When KPIs talk, who is supposed to act? Do we really have a handle on costs? Are we just watching the dials or moving them? Are we strategizing from the top or justifying from the bottom? Are we locking analytics in an ivory tower (strategic, analytical & operational)

  10. Strengths of Maximo data Single source for work management data GL accounts and related expenditure Inventory data Material requests, Purchase requests and purchase orders Service request data Integrated asset management

  11. Success factors Create a solid data foundation Look beyond the spreadsheet to predictive analytics and forecasting Identify and address cultural barriers to information sharing Use analytics to identify a limited set of metrics that really drive the business Implement processes and accountability to act on performance metrics

  12. Success factors (cont’d) Look beyond gut forecasting to analytically derived forecasts Blend multiple forecasting methods to maximize predictive accuracy Adopt activity-based costing for a more accurate picture of profitability Don’t be satisfied with hindsight; use analytics to improve, learn and evolve

  13. Business Use-Cases Business Use-Cases

  14. What-If Analysis

  15. Root Causes for Failures : Pareto Analysis

  16. Reduce Shutdown and Downtime

  17. Monitoring Cost and Number of Failures

  18. Advanced Reliability Analysis

  19. Interactive discussion What are your current successes and challenges of analyzing and effectively utilizing Maximo data?

  20. Thank you Samir Vyas sam.vyas@reportinghouse.com 919-345-1728 Pankaj Shetye pankaj.shetye@reportinghouse.com

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