An APM software solution encompasses a modularized deployment of solutions to improve operational performance. The solution allows companies to plug-and-play different well-established and innovative analytical solutions to support the decision-making process. On top of the deployment of analytical solutions, asset performance management (APM) is supported by data analytics used to capture, clean, integrate, visualize and predict trends.
The advanced technology has been a great enabler for asset performance management. The advent of the Industrial Internet of Things (IIoT), connecting computing devices embedded in industrial machinery, and cloud solutions, used to store the overwhelming amount of data produced and running analytical models faster, support faster decision-making processes. All of this is supported by a collaboration environment enabled by web-based applications, asset ecosystems and digital twins.