The new offering supports the emergence of the Industrial Internet of Things (IIoT) in the process industry, enabling companies to collect, organize and analyze data for a specific asset or "thing." These analytics can transform work processes from reactive to proactive, helping industrial plant operators avoid unplanned downtime and improve plant performance and safety. The suite helps companies with industrial assets increase utilization of those assets by up to 10 percent by reducing unplanned downtime. It can also cut maintenance costs by up to 15 percent by better predicting and preventing catastrophic equipment failure and inefficient operations. The technology works by continuously accessing data from a variety of sources, including process parameters, vibration data and alarms. Using a real-time complex event processing engine, it continuously performs performance, health, efficiency and safety-related calculations and compares those results of the current actual performance to an expected performance model. Predicted or detected deviations from these models are used to generate notifications to facilitate investigation and intervention to minimize the cost and frequency of an event. Pre-defined best practice templates for more than 100 equipment types, such as pumps, compressors, exchangers, valves and turbines; combined with a seamless interface to process design simulation software helps users rapidly deploy equipment or process monitoring on any plant asset, eliminating the need for complex model development.
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Honeywell Process Solutions