SAP recently posted an article titled "10 Myths About Predictive Analytics". It is a great read and worth your time, and can be found here. The article makes the following points regarding current Predictive Analytic Myths:
Tired of reacting to unexpected equipment failures, power outages, and unplanned downtime? If you are not actively transitioning from a reactive to a predictive asset management program, you are likely to deal with the same frustrations a year from now as you have in the past. Although hindsight will always be twenty-twenty, foresight has the potential to save your company millions in operating dollars.
When a company decides to make a capital investment in data historian software, it can often be overwhelming. Searching through the complete list of data historians in the process database family will reveal nearly a dozen data historians in the marketplace, not to mention open source options that an IT team may decide to attempt. By definition, data historian software should be:
In 2014 Gary Stern and the engineering team at Canary Labs sought to test the full capabilities of the Canary Data Historian. Published below are the complete findings from their study. As this was originally intended for use as an internal document, please excuse any grammatical or spelling errors.
Many companies do not realize the advantages that historical process data can offer, helping them to save both time and money. Ed Stern, Vice President of Canary Labs, discusses his experience in the matter:
Since 1985, Canary Labs has been focused on reliably and quickly recording time series data into it's process data historian. Named after the canaries that were carried into coal mines by miners to detect toxic gases, Canary software assists engineers and control operators in finding conditions that are not easily detected; providing early warning and alarms that will help prevent minor issues from becoming major disasters.
I recently received an email from a potential system integrator customer that wanted to see how the Canary data historian and trending software would meet their client's needs. After addressing all concerns, I thought it would be worthwhile to share as it demonstrates how well the Canary system works in comparison to other products like Pi, GE, or Rockwell software.
Time and time again, companies who make an investment in the Canary data historian and trending software solutions see great returns on their investment. An independent oil and natural gas company made a $22,500 investment in the Canary data historian and Axiom trending and analytic software and saved over $250,000 through monitoring and improving the efficiency of their equipment.