Data collection on industrial equipment usage can lead to improved maintenance scheduling, adding life to equipment and decreasing downtime due to failures:
“Maintenance has always been a cost-driver in industries that rely on expensive equipment in the field (think airlines and major shippers). In these industries, performing field maintenance at just the right time (before the equipment fails but not so early as to scrap excess product life) dramatically impacts profitability and safety. Equipment that must be returned to an MRO station is under even greater scrutiny as this may mean that part of the fleet is inaccessible until the equipment is returned. Machine learning and data gathering are dramatically improving maintenance scheduling, reducing equipment downtime and driving greater profitability.”
Source: 6 Ways Machine Learning is Driving Profits
