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Predictive Analytics

Predictive Analytics allow you to understand what your asset base will look like in the future. For example, asset data can be used to build statistical models that enable you to predict future asset failure and deterioration rates. This, in turn, allows you to answer questions about the future state of your assets, such as “how many asset failures can we expect in 5 years time?” and “what will it cost to maintain our assets over the next 25 years?”. Predictive models can also be used to run various simulations, based on questions such as “what happens to our maintenance requirements if the deterioration of our assets is increased by 0.5%?”.

Asset-level Risk and Cost Modelling

Risk and cost forecasts are calculated according to user-defined equations in the powerful and flexible AIM Model Editor. The Model Editor links directly to your asset data set and attributes and includes many built-in variables and mathematical functions that allow you to formulate effective risk and cost models. Models are validated and visualized using the model profiler, avoiding the need for complex spreadsheets and helping users to spot and correct model errors.

Advanced Statistical Distributions and Uncertainty

AIM allows for the formal quantification and analysis of uncertainty for every model parameter before and after optimisation. Including uncertainty distributions within your decision-making framework gives you a deeper understanding of the inherent uncertainty around your risks, costs and investment requirements.

AIM includes all standard and several expert statistical distributions such as Normal/Gaussian, Lognormal, Weibull, Gamma and Chi Squared to help users build advanced deterioration and consequence models.

Comprehensive Forecasting

The AIM Planning Horizon defines the time period for optimized decision making. Users can define daily, weekly, monthly or yearly time steps, allowing for short term, medium term and longer term planning. Daily, weekly, monthly and annual time steps can cover periods up to 3 months, 2 years, 8 years and 100 years respectively