Considering Atonix Digital

Atonix Digital offers products that are powered by the ASSET360 cloud-based analytics platform, which provides capital-intensive industries such as energy, water, and industrial with a set of comprehensive tools to manage asset optimization and risk.

The Atonix Digital APM solution leverages advanced data analytics along with machine learning and artificial intelligence to allow asset owners and operators to maximize the production and output from their assets. The platform helps reduce risk and improve day-to-day and future asset management decisions, which helps provide an increased ROI on a company’s industrial assets.

The Atonix Digital product portfolio addresses key elements of strategic asset management as defined by IDC in Figure 1.

FIGURE 1: Key Elements of Strategic Asset Management

Source: IDC, 2019
  • Predict potential failure: ASSET360 provides a unified view of machine and equipment health with analytics that predict potential failures before they negatively impact asset operations.
  • Diagnose root cause: The platform can accurately diagnose potential failures and root cause while allowing asset owners and operators to drill into the data to perform their own analysis.
  • Identify the fixes: Real-time performance data and recommendations are offered for asset fixes as well as advanced maintenance strategies based on the operational priorities of cost, performance, and market needs.
  • Recommend approach based on policy: Insight is provided into the management of operational reliability while managing regulatory compliance.
  • Perform action and record: A single point of management is used for anomalies, advisories, alerts, and cases, capturing the complete details of each case. The platform’s dashboard also connects work orders with field service technicians to dispatch and provide information on operations and maintenance.
  • Optimize to the market demands: Advanced analytics and machine learning are used to balance reliability, availability, performance, and costs against risk to maximize the value of the asset and maintain uptime to meet peak market demands.
  • Redesign assets and policyThe platform provides asset strategy optimization that can determine the best approach to performing maintenance, inspection, or replacement activities while effectively balancing risks and costs.

In addition to the previously mentioned key elements of strategic asset management, Atonix Digital's products offer asset owners and operators an investment planning module that allows organization stakeholders to model asset investment scenarios that can provide a framework to establish goals and cost expectations as well as manage the risk associated with plans to build, expand, or upgrade assets.

The company claims that its products have provided substantial savings to customers because of early asset fault detection. Atonix Digital reports that customers have recognized the following benefits:

  • A midwestern power company saved $2 million due to early asset fault detection.
  • A public utility saved over $117,000 from water loss detection and repair.
  • One of the largest municipal energy companies in the United States saved over $5 million from early detection on equipment failure by applying predictive maintenance analysis.

Challenges

Implementing strategic APM is not always easy and requires information technology/operational technology (IT/OT) convergence in capital-intensive markets such as energy and manufacturing.

The movement toward IT/OT convergence is creating the need for tools that provide a single data repository for maintenance and operational data. Through IT/OT convergence, data can be utilized across an organization to improve efficiencies and the financial performance of assets. In addition to achieving IT/OT convergence, there is a need to understand performance history and expected asset life in order to enable more refined approaches to capital management strategies.

In the United States, the energy sector and particularly investor-owned utilities (IOUs) have been slow to move to the cloud. While that attitude has been changing in recent years, many IOUs are still grappling with how to treat a cloud investment. If cloud can be treated as a capital investment, IOUs can recover the cost through their rate base. IOUs may take some time to solve the capital expenditure versus operational expenditure issue before they adopt cloud-based solutions such as the Atonix Digital ASSET360 platform.

Traditionally, assets in capital-intensive industries have been maintained on a time-based schedule that is established on experience and original equipment manufacturer (OEM) guidelines. These schedules are somewhat rigid and many times are not based on real-world performance or feedback. Other challenges exist with the lack of documented workflows and the sharing of knowledge and experience when technical staff leave an organization. The inability to efficiently transfer industry knowledge and experience to the next generation of technical staff limits the benefits of traditional enterprise asset management.