Analytics, Data Science, and PPP
Often, the term analytics is used to mean the techniques used for understanding known data, whereas data science pertains to predictions of unknown data. Regardless, Mtell product offerings do both and deliver the 3 P’s of maintenance analytics:
Performance analytics provide insights into collections of data and is purely observational.
Predictive analytics aims to find correlations in known data to use for accurately identifying how events will occur in the future.
Prescriptive analytics endeavor to understand causation and offer advice that can change predicted events.
A hierarchical relationship binds the 3 P’s. Full proficiency in Performance Analytics is a prerequisite of Predictive Analytics, which in turn must be mastered thoroughly before advancing to Prescriptive Analytics. Mtell is the only company offering any meaningful Prescriptive Analytics solution in industrial environments.
Surprisingly, you do not need to be an expert in the 3 P’s, or analytics or the data science technologies to use Mtell products. The “heavy-lifting” is done inside the product and is presented in easy-to-use functions that concentrate on WHAT the user is trying to do with the equipment, and not HOW it must be done.