IBM announces new IoT-based asset performance management system

March 1, 2019 – IBM has announced a new Internet of Things (IoT)–based solution that pairs artificial intelligence (AI) and advanced analytics to enable asset-intensive organizations to improve maintenance.

The company says that the solution, called IBM Maximo Asset Performance Management (APM), will help organizations to lower costs and reduce the risk of failure from physical assets such as trains, manufacturing robots, turbines, mining equipment, elevators and electrical transformers.

APM collects data from physical assets in near real-time and provides insights on current operating conditions, predicts potential issues, diagnoses problems and offers repair recommendations.

APM works with a company’s existing enterprise asset management (EAM) capabilities, no matter the provider. It presents asset health insights in real-time using asset records, sensor data and other external data to inform maintenance and replacement decisions. It also includes predictive maintenance insights using statistical models and machine learning, including failure date/probability, key drivers, degradation curves and anomaly detection.

IBM will also offer the APM suite customized for specific industries, beginning with APM for Energy and Utilities (E&U). This provides industry-specific capabilities to analyze and act on insights from utility assets and includes risk/criticality scoring, health and degradation models, standard industry data model and weather data integration.