The larger the organization, the less they can afford downtime. Militaries cannot idle, lest threats appear. Oil and gas companies cannot stop drilling without causing an instant shortage. Organizations such as these look for solutions to mitigate or eliminate downtime, and control risk. Asset management technology can help an organization manage its risk and keeps them efficient.
Asset management technology is the integration of several hardware systems to monitor large, complex operations. The United States military has pioneered asset management technology, particularly the Navy and Air Force. Using predictive technologies to diagnose problems in aircraft, these branches can provide rapid on wing support to administer preventative maintenance.
Another application in asset management technology is power generation. A highly competitive environment, downtime can result not just in loss revenue, but in a public relations disaster as well. Power generation companies predictive technology to assess the health of generation equipment. These same companies also use fuel system management to control feedstock use, and therefore control costs and maintain efficiency.
Asset management technology has a role to play in other industries, such as oil and gas, healthcare, logistics, and other industries with multifaceted operations. Whatever the industry, good data asset management technology reduces downtime and increases efficiency. As a result, it lets militaries protect borders, power companies keep lights on, and healthcare companies save lives.