Top 5 Asset Performance Management Trends: No. 4

This week, Greg Goodwin of LNS research is counting down the top 5 asset performance trends in the manufacturing sector.

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This week, Greg Goodwin of LNS research is counting down the top 5 asset performance trends in the manufacturing sector. To see each day’s newest trend, tune in to IMPOs second shift. 

4.) Asset Performance Management will break the boundaries of current business models, moving toward capacity rather than the sale of capital goods

It’s no secret that manufacturers are growing increasingly excited about emerging technology trends like Big Data, Cloud, and the Internet of Things, and with good reason: these are transformational technologies that are leading toward what some are dubbing as “The Fourth Industrial Revolution,” or “Industry 4.0.”

In some cases, these transformations have already taken effect. Some manufacturers of jet engines, for example, have shifted business models away from the outright sale of the engines to a service-based model where flight hours are instead the product purchased by airline customers. This is the type of ultra-sophisticated Asset Performance Management (APM) that we’ll see shaping other industries in the near future

Forward-looking companies have taken notice, and are using the vast predictive analytical capabilities made possible by Big Data and IoT to gain a leg up on the competition, and shape industries into the future. Take a brief APM survey from LNS Research to find out much more in the Asset Performance Management Best Practices Guide.

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