By: Kock Chee Kiong, ARiMI-CERM, ARM.
General analysis can be performed on equipment and system using a matrix to assess and correlate frequency and severity of breakdown and failure in relation to the followings;
The result obtained can be mapped for further assessment through Predictive Analytics.
Predictive analytics helps to determine the underlying issues and problems while developing actions plan during general analysis stage. Method such as Online analytical processing (Ref: data science creates teams that ask the right questions and deliver real values by Doug Rose, 2016, Apress) allows insight to be extracted from the matrix while processing the real time input and parameters.
General analysis and predictive analytics identify and evaluate the probability of issues leading to the problem, enabling issues to be articulated and helping to make a problem statement.
Prescriptive analytics are paired to the equipment/machine and human user which allows autonomous control, creates an opportunity for collaborated learning and aids in problem solving. Operation control parameter and sensors will provide real time information and data into the control matrix, determining the peripheral of the system control. Prescriptive analytics further determines the overall system control, allowing decision to be made for intuitive control with real time information and parameters
Prescriptive analytics should be performed by human that operate the equipment and process with support from experts and computation power of technology in embracing mistakes (mission) and drive remedy afterthought and optimizing effectiveness of the solution.
Below are methods to be considered in applying Prescriptive Analytics.
- Analyze the result using 80-20 rule (seeking for the list of possible issues to the problem).
- Perform higher level analysis to narrow down on the numbers of leading issues to the problem.
- Application for 90/10 rule – “Seeking the wisdom of the crowds” approach
- Narrate the problem in a story mode by questioning the whole process and event. A correct story helps getting the right approach for problem solving. The Question and Answer seek alternate view and approach in delivering a same solution answer. This is similar when applying different algorithm and method in deriving for the same answer.