CHAPTER 4 Operational Analytics Processing in Action Industrial operations require a fast and flexible data processing infrastructure that enables continuous monitoring, analysis, and actionable information to respond to the problems that can arise in complex systems. IoT operational analytics processing solutions can predict and avoid costly maintenance events at scale using a database platform that cost-effectively streams, scores, and responds to data events in real time. There is a great need for this type of information to prevent disruptions. The impact of downtime when equipment or plants go offline is a loss of production capacity. Beyond that direct cost, downtime might jeopardize contract commitments. If a produced product misses a shipping date, a manufacturer might look for another parts supplier to ensure their production schedules are met. These problems and costs can be avoided by analyzing IoT data in real time. To get actionable informa- tion from this data requires a platform that offers real-time dashboards with live data analysis for drill-downs and aggregations, and ML-enabled analysis that runs sophisticated algorithms in SQL or uses third-party ML frameworks such as TensorFlow. Use Case: Maximizing Performance in the Energy Industry Using these technologies, one energy industry company built an IoT solution that used complex scoring to track dozens of readings in real time to adjust drill operations to maximize performance and availabili- ty. The solution also predicts drill bit failure before outages occur. This can result in significant cost savings, as a day of unplanned drill down- time can cost an oil and gas company roughly $1.25 million.3 To that end, operational analytic processing on IoT data can be used for instant response to critical machine events and proactive, predic- tive maintenance. This information can be used to: · Maintain equipment uptime by analyzing millions of equipment $1.25 conditions and events with real-time monitoring · Reduce operating costs by avoiding costly outages with million optimized equipment operations and planned maintenance · Predict failures to prevent high-risk operating conditions Cost to an oil & gas with real-time predictive scoring company for one day of unplanned drill downtime3 3 https://connectedworld.com/make-data-the-new-oil-iiot-enabled-predictive-maintenance-for-the-oil-and-gas-industry/ Copyright (©) 2019 RTInsights Industrial IoT Data Collection & Analysis for Real-Time Decision-Making and Predictive Maintenance 9 Copyright (©) 2019 RTInsights Industrial IoT Data Collection & Analysis for Real-Time Decision-Making and Predictive Maintenance