Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups in data analytics As there is a large number of startups working on a wide variety of solutions, we decided to share our insights with you. This time, we are taking a look at 4 promising data analytics solutions for maintenance, repair & overhauling (MRO).
Heat Map: 4 Top Data Analytics Startups
For our 4 picks of data analytics startups, we used a data-driven startup scouting approach to identify relevant solutions globally. The Global Startup Heat Map below highlights 4 interesting examples out of 416 relevant solutions. Depending on your specific needs, your top picks might look entirely different.
Imagine you are working in an automotive manufacturing plant that runs around the clock, 365 days a year. One sunny morning the new automated forging press machine you purchased for manufacturing of a new engine model’s crankshaft broke down due to a crack in one of the operating shafts of the machine. How does this situation affect the automotive plant? Well, it depends on multiple factors. However, the most commonly observed scenario during a maintenance breakdown often creates lots of pressure among the maintenance professionals due to:
- pressure from production peers who require to keep the machinery/plant running;
- non-availability of spare parts to repair & run the machines;
- increased cost of high-speed transport to deliver spare parts from a different country
The list goes on.
So, why is Maintenance, Repair & Overhauling (MRO) required?
A well established Maintenance Management in an organization enables multiple benefits such as increased equipment availability, cost savings due to optimized inventory planning & maintenance logistics, satisfied stakeholders and colleagues, well-managed maintenance and production workforce and other benefits.
Let’s take a look at 4 emerging data analytics solutions:
Automation Intellect – O&M Strategy In An Automotive Plant (OEE Calculation)
Overall Equipment Effectiveness (OEE) is a measurement of availability, performance of a machine and quality of the product produced. It is often used as a strategic KPI in most asset-rich industries such as automotive, cement and other industries to keep the whole manufacturing process running around the clock. Data collected from the equipment detects inefficient production areas due to poor maintenance of machinery. This is carried out using analytics tools and techniques performed on OEE data, which enables 24/7 plant operations. US-based Automation Intellect develops a software platform for effective equipment monitoring using lessons learned from designing, building and implementing industrial automation solutions in manufacturing facilities around the world. Their platform benefits industries in the areas such as cost of production, performance visibility, downtime root cause analysis, proactive alerts and more.
Onyxinsight – Inventory Cost Reduction In Wind Industry (RUL Calculations)
75% of the total operational expenditure of a wind turbine goes towards operation and maintenance. One of the primary cost components includes non-availability of critical spare parts and components or excessive availability of non-critical components. Predicting the remaining useful life (RUL) of a running wind turbine, which is often performed based on the collection of multiple maintenance and operations data, enables effective inventory & maintenance planning for critical components. UK startup Onyxinsight specializes in the entire lifetime value of assets. By combining their software and engineering expertise, they can accurately predict a component’s life and optimize maintenance cycles. This allows them to better maintain the equipment during its lifetime and track the necessary component for it to be maintained for its remaining useful life.
Vigil Technologies – Risk Management In Oil & Gas Industry
Think of BP’s Gulf oil spill and other disasters in the oil & gas industry. Safety and appropriate risk management procedures are the primary focus and key targets in such industries. By better detecting the anomalies of reactors, potential hazardous accidents & human deaths can be prevented. Another use case is behavior modeling for employees operating in the field. Data analytics software better spots what actions cause or potentially cause safety-related risks. Canadian startup Vigil Technologies provides cost-effective innovative wireless solutions for protecting personnel, securing assets, and managing risk in harsh environments including remote areas in which no infrastructure exists. Their systems are used in risk management to monitor security, environment, assets, personnel and more.
Steag – Emission Control In Cement Industries
The amount of greenhouse gases and toxic pollutants generated by the cement industry enforces strict laws and sustainability measures in the industry. The heart of the cement plant, Cement Kiln, requires an incredible amount of energy for heating. Statistics confirm that for every million of cement produced 0.75 million of carbon dioxide is generated. By keeping the machinery and equipment at its highest availability, performance not only yields high-quality product but also controls emissions from a cement plant. German IT Solution provider Steag uses Big Data and Analytics to optimize process control, make energy consumption more efficient and improve the life cycle assessment of systems. Their software based on neural networks and sensors is used in complex statistical analyses and cognitive methods to provide recommendations for actions in areas such as emissions, production, process stability, temperature and more.
What About The Other 414 Data Analytics Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence for your Proof of Concept (PoC), partnership, or investment targets. The 4 data analytics startups showcased above are promising examples out of 416 we analyzed for this article. To identify the most relevant solutions based on your specific criteria and collaboration strategy, get in touch.