The key benefit of a digital asset management (DAM) strategy is so an organization can move from descriptive and diagnostic analysis to predictive and prescriptive analysis. Rather than making decisions based on what has happened in the past, it allows them to focus on what is going to happen in the future and take defined actions based on automated analysis.
But recent studies have shown that ~80% of digital transformation strategies fail to meet their objective and therefore never scale beyond their original pilots. In this whitepaper industry expert Tim White will discuss how digitalizing asset monitoring and creating predictive analytic models is bringing enormous benefits to those companies making the investment.
- How to avoid costly and unnecessary asset repairs
- How to effectively implement and utilize machine learning and predictive analytics to improve asset management strategies
- How to use FMEAs as a guiding document when building the digital strategy for equipment monitoring
- How to increase the efficiency of model development and efficacy once deployed
- How to expand the reach of digital strategy over like-for-like assets, thus accelerating transformation process
- How to increase project transparency and thus employee acceptance