IoT GUIDE

The elevator service business has, and continues, to undergo many changes. Overwhelming market competition coupled with relentless cost increases has placed an unprecedented squeeze on sales and margins. Most service providers have completely restructured their service programs opting to eliminate the standard “preventive” service program. Most will say they now provide some form of “predictive” service program and emphasize that they utilize remote monitoring of elevators to gain visibility of faults and estimate when components may need to be replaced due to actual usage. When asked, the typical company representative will explain that their program monitors the elevator and therefore they know when it “faults” or that they will replace a consumable part before its useful life has expired. Is this a “predictive” program? Or, is it merely a preventive, slightly enhanced, usage-based program? This paper will challenge the word “predictive” and review what is required to be truly “predictive”.

Remote monitoring data is readily available in most markets. Most manufacturing companies with broad service bases do not take a holistic view of how this machine data can provide organization-wide bene ts. The data is vast and, potentially, overwhelming. However, within this data lies the ability to empower management to make real-time decisions based on real-time, actionable intelligence. To make this data useful, the organization must understand how to categorize and catalogue it while at the same time creating intuitive pictures (dashboards) for the organization to easily understand and act upon it. Envision a Facebook-like tool unique to the OEM’s organization and dedicated to disseminating real-time actionable intelligence derived from running elevators. Deploying an Integrated Service Lifecycle Management platform driven by advanced analytics will provide a Predictive Service Program unique only to the OEM. Such a program will provide the OEM meaningful market differentiation, optimized processes, real-time intelligence, and improved organizational results.

You can read and download the full report on WiPro here