Big Data and cloud technology has provided organizations new ways to drive efficiency and productivity. Among companies recognized as industry leaders and innovators, Asset Optimization has become a trending initiative and is producing strong results for these adopters. So what is stopping other organizations from adopting Asset Optimization? The reasons vary across organizations but include concerns that their data quality can’t support optimization; that ambitious asset optimization projects will stretch tight budgets; that current operations are already so effective, they can’t be further optimized; or that Asset Optimization is solely for large-scale organizations.
An example of optimization done well is UPS’ No Left Turn optimization policy. A complex system of data science, algorithms, and proprietary maps, this optimizer directs drivers to avoid most left-hand turns – even if it means driving around the block. This approach saves UPS every year:
- 10,000,000 gallons of fuel
- 100,000 metric tons of CO2 emissions – equivalent to taking 21,000 cars off the road
- 100,000,000 miles from their routes
- Countless accidents as left turns are one of the top “pre-crash events” occurring in the U.S.
UPS’s optimizer has been in place for more than a decade, and its data shows a total savings between $300 and $400 million in fuel, wages, and vehicle operations costs.
Whether your organization is holding off on its optimization journey until you learn more, or if you’ve already started, this white paper will discuss how to achieve key bottom line benefits of optimization and will initiate thought-provoking conversations on ways to optimize assets.
This white paper will:
- Review the methodologies behind asset optimization
- Discuss how to leverage the value of optimization
- Reveal real-world results of asset optimization initiatives
Companies that rely on past data instead of asset optimization will get left behind by competitors leveraging predictive analytics.
Although implementing a predictive approach will involve a higher up-front cost and a steeper learning curve than forecasting solutions, the resulting approach enables organizations to look far into the future with high levels of accuracy to make strategic decisions their assets. The impact to the bottom line is immediate, positioning them well vis-à-vis their competition and markets.
Clockwork Solutions offers a proven predictive analytics platform and strategies that enables true asset optimization. Our deep experience in data collection and management and our consultative approach supports a granular look at asset usage so ROI can be achieved quickly, and decisions that boost profitability are clearly reflected in optimization solutions.
How do clients benefit from working with Clockwork to optimize their assets? Here is one example.
This article was written by This article was written by Serg Posadas ,the VP of Industry Solutions at Clockwork Solutions. He brings depth of experience to Clockwork in technical and strategic leadership. Serg has been with Clockwork for eight years following a 22-yr Marine Corps career. He applied predictive analytics and data science in his career as an aviator and operations analyst.
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