Honeywell launches cloud-based analytical service for plant asset management

Honeywell Process Solutions has announced a new offering as part of Honeywell Connected Plant that is said to allow its customers to more effectively manage the maintenance and operations of their industrial equipment. The Honeywell Connected Plant Asset Performance Insight connects the customers’ assets and equipment to the cloud, and applies analytical models from Honeywell and its partners so that customers can avoid unplanned downtime and unnecessary maintenance.

New asset performance management (APM) strategies are becoming critical to industrial companies as production demands and the availability of data from devices throughout the facilities increase. Because of this increased demand, any unplanned downtime, equipment failure or unnecessary maintenance directly impacts the companies’ bottom lines and can be costly.

“In today’s competitive business climate, in which asset capacity is often sold out, equipment performance is key to increased profitability,” said Richard Shaw, general manager, Honeywell Connected Plant. “With operational and maintenance-induced equipment failures accounting for most of the unplanned downtime, industrial companies are looking to digital transformation and IIoT to make sense out of huge amounts of data. Honeywell Connected Plant and our new Asset Performance Insight will help our customers operate more strategically and effectively.”

Honeywell designed the Asset Performance Insight solution to be rapidly deployed to customers through preconfigured templates. These templates are based on the company’s industry experience and real-world customer challenges enhanced with advanced analytics. The offering can also be configured and tailored to customers’ specific needs.