Glossary

What is asset performance management?

Asset performance management is an asset management strategy that combines technology, processes, and people to improve the reliability, availability, integrity, and efficiency of physical assets.

What is asset performance management software?

Asset performance management software helps organizations monitor assets and identify reliability, availability, and efficiency risks using data and analytics. Asset performance management software is typically made of several software solutions and not a single application.

Why is asset performance management software important?

Organizations invest in an asset performance management strategy and software solutions to improve asset reliability, minimize costs, and increase operational efficiency. For organizations with multiple asset management strategies or solutions, bringing them all under a single asset performance management program can help streamline management and goals.

By using an asset performance management strategy, organizations can:

• Increase throughput of a plant through higher asset reliability and availability
• Raise operational productivity by arming maintenance teams with prescriptive insights
• Boost yield and product quality with optimized production processes
• Reduce energy costs and carbon emissions with optimized energy balancing and operations
• Improve safety with reduced emergency shutdowns and workovers
• Enable holistic asset management with a unified view of asset performance and data from sensors, data historians and other operational measurements and data stores in one place

How Does C3 AI Enable AI-Powered Asset Performance Management?

C3 AI enables organizations to implement an asset performance management strategy with prebuilt C3 AI applications including:

• C3 AI Reliability helps organizations identify asset reliability risks in advance and take action through integrated root cause analysis and case management workflow.
• C3 AI Process Optimization helps organizations improve production processes by identifying opportunities to modify control points based on production objectives such as output or quality.
• C3 AI Energy Management helps organizations benchmark, calculate, and reduce energy consumption, energy costs, and greenhouse gas emissions.

C3 AI applications are built on the C3 AI Platform, an end-to-end platform for developing enterprise AI applications. The C3 AI Platform provides a scalable and secure approach to enterprise AI. It provides the tools and capabilities required to rapidly design, develop, and operate advanced, industrial-scale enterprise AI applications.

The unique model-driven architecture of the C3 AI Platform allows organizations to build AI applications with less code, time, and effort than other approaches. It includes an end-to-end architecture to integrate with existing enterprise software systems, ingest into domain object models, apply out-of-the-box and configurable AI algorithms, and enable end user interaction in intuitive, simple user interface applications. C3 AI also provides a proven methodology and best practices for customer developers to configure, extend, and develop proprietary AI applications. C3 AI shares this methodology in a center of excellence collaboration model, delivering proven results as demonstrated through a decade of experience in working with some of the world’s largest organizations on industrial-scale use cases.