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Agile methodology often talks of ‘fast fail’ where-by failures are discovered quickly so teams can respond and pivot their approach. It’s a term often heard in software development circles, and in-fact VROC’s own software development is based on this model, with continuous customer feedback central to on-going product development.
However the term ‘Fast Fail’ also has a real benefit for industrial companies who are on their digital transformation journey, looking to apply predictive analytics, artificial intelligence and machine learning to their way of maintaining critical assets and optimizing production.
” Failure is simply the opportunity to begin again, this time more intelligently. “
– Henry Ford.
When starting out on this digital transformation journey companies typically run Proof of Concept (POC) projects or Proof of Approach as they are sometimes called. This is a project that tests the implementation of the technology to ensure that it works within the businesses existing operating methods and ecosystems, and most importantly that the technology delivers a benefit to the business, before scaling and implementing it enterprise wide.
Understandably it is important to get results and feedback quickly from POC projects as companies invest time and money in testing and implementing software. It can be an uphill battle to simply get to the POC stage, trying to get sponsor buy-in and senior management commitment. So it’s important that the POC doesn’t take months or even years to come to a finding. A Fast Fail is essential.
The VROC platform has at its core artificial intelligence and machine learning technology, it is this technology that delivers results in next to no time. Unlike other Industrial Analytics solutions that take months to manually analyse big data, the VROC platform ingests live and historic data giving reliability teams results within hours. This means businesses can test the platform against hundreds of different problem statements during their POC project to determine how the technology can best be applied, giving lots of opportunity to verify outcomes and benefits. Multiple AI models can be run to test different assumptions and observe different outcomes.
With time to failure analysis as a core feature of the VROC platform, the fast fail concept continues as a core element to getting Fast Results once the platform is implemented enterprise wide. At an enterprise level, insight into pending asset failures is critical and provides companies with the ability to pivot, switching equipment or settings quickly to avoid shut-downs and failures. It’s essential this insight is provided fast, so the information can be used in real-time applications.
Some industrial analytics platforms provide insights after-the-fact, however it is the real-time advantage, the ‘Fast Fail’ that makes a significant difference to the bottom line. Helping to optimize production and avoid un-necessary maintenance costs.
Interested in learning more about VROC or starting a Proof of Concept project, get in touch today.
We explore five trends being adopted to help scale the use of Industrial Artificial IntelligenceRead Article
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The efficient deployment, continuous retraining of models with live data and monitoring of model accuracy falls under the categorisation called MLOps. As businesses have hundreds and even.
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