Analytics for Asset Management

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Analytics for Asset Management

Decision Support (through the application of Analytics) is required by infrastructure organisations in broadly 2 categories:

– Strategic Decisions• For long term investment planning; Regulatory submissions and supporting

corporative performance. – Operational/Delivery Decisions

• For drive efficiencies, to manage risk, to align with organisational objectives

……….… but, what is Analytics? And how does it fit in to Decision Support and Asset Management?

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What is Analytics?

• Analytics is a combination of mathematics & statistics, data techniques and advanced algorithms to quantify and predict performance, risk, condition, service, cost & revenue with rich data visualisation to communicate insight

• Successful Analytics projects rely on the experience and expertise of specialists to enable the organisation to understand their data, use it to generate value and communicate effectively to stakeholders

Prescriptive analytics is used to inform decision making, reducing cost, increase profit and balance risk to improve corporate performance

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Analytics Journey

E.g. How does changing CAPEX effect Risk and Customer Service?

High Value

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What SEAMS can do in the context of Asset Management Anatomy

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What SEAMS can do in the context of Asset Management Anatomy

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DESCRIPTIVE

PREDICTIVE

PRESCRIPTIVE

STRA

TEG

ICTA

CTIC

ALO

PERA

TIO

NAL

What happened to our assets in the last 10yrs?

What happened to our assets in the last year?

What is happening to our assets today?

What will happen to our assets in the next 25yrs?

What will happen to our assets in the next year?

What will happen to our assets tomorrow?

How can we ensure our investments align with our

strategic objectives?

Which asset investments should be made this year?

What activities do we need to do tomorrow?

• Historic asset trends • Performance• Reliability• Utilisation

• Demand profiling

• Asset deterioration• Forecasting Risk• Sustainability• Demand and other

exogenous factors

• Optimisation to meet organisational objectives

• ‘What if’ scenario assessments

• Risk, Performance, Cost Trade-off

• Cost Benefit and Cost Effectiveness

• Customer trends & preferences

• Annual cost & revenue reporting

• Unit cost analysis• Asset reliability & utilisation• Root cause analysis

• Real time monitoring of assets

• Operational efficiency• Early warning of faults• Rapid response to asset

issues• Asset survey

• Reliability analysis• Forecast annual performance• Management account

forecasts• Resource gap identification• Seasonal impacts

• Annual investment scenarios• Align investments with Strategy• Specific Assets, Specific

Interventions• Create schemes of work,

• Introduce local and short term information

• Issue identification• Hotspot analysis• Client feedback

analysis• Peak demand forecasting• Weather impacts

• Which asset do I repair or replace

• What's the best contract with the supply chain

• Job scheduling

Analytics in Asset ManagementStrategic Decision Support

Tactical Decision Support

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Success CriteriaStrategic Decision Support• Support Derivation of Strategic Investment Plan (or Business Plan)

– e.g. 5 to 25 year time horizon• Find efficiencies over historic, non-data driven approach

– E.g. 15% – 20%• ‘What if’ investment scenario evaluation. E.g.:

– What price for this risk profile?– What performance impact results from a 10% budget cut?

• Determine optimal investment solution within constraints against multiple KPIs– Enable Customer Service and Risk driven approach

• Ability to house performance, cost, risk and intervention relationships– Ensuring the model is: Repeatable, Configurable, Reliable

Tactical Decision Support• Provide ‘Clear Line of Sight’ with Organisational and AM Strategy• Empower staff to carry out short term planning

– Identify assets interventions in next 12 months– Plan schemes, accounting for predicted impact on risk, third party information, cost effectiveness

• Find further efficiencies over business plan budget• Quantify degree of alignment with strategy

– Measured against KPIs, Costs and Timing• Support discussions (and joint working) with other utilities and third parties

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Why SEAMS

We have over 15 years proven experience in delivering solutions that improve corporate performance in Asset Management using Advanced

Analytics software and services.

We have clients in the Water, Energy and Transportation sectors that have used our solution for over 15 years and have embedded these into

their corporate processes.

We have helped clients develop their own Analytics capability and supported the Organisational change of those clients.

Advanced prescriptive analytics to better inform decision making, reducing cost, increase profit and balance risk to improve corporate performance

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www.seamsltd.com