Through sophisticated tools and models, predictive analytics provides actionable insights for decision-making. These insights can range from prediction of assets failures to recommendations on optimal set-points.
Predictive analytics can be used across a variety of industries however, Synengco’s primary domain is critical & heavy infrastructure, such as:
- Power generation assets
- Health infrastructure
- Governmental assets
- Defence and security
With knowledge and experience in the above industries combined with our technology stack we can provide our customers with state-of-the-art services and solutions.
What is Predictive Analytics?
Predictive analytics is a form of data analysis that uses tools and techniques to make predictions about future outcomes. It evaluates the likelihood of these outcomes based on available historical data combined with powerful statistical algorithms.
Through predictive analytics, you can:
✓ Drive down costs and production losses from asset failures
The more you know about the condition and behaviour of an asset, the more mitigation strategies you can put in place to minimise the asset downtime. Additionally, with the power of predictive analytics you can implement measures to ensure these failures are less likely to occur.
✓ Rapidly find real, valuable, and predictive insights from your data
Having a bunch of data and seeing trends within that data is a nice luxury to have. However, the true value comes from the well-informed and educated business decisions that you make from that data.
✓ Adapt to your unique challenges and learn over time without external ‘data scientist’ assistance
Data scientists can be costly due to the high demand in analytics. Using an AI platform with embedded predictive analytics capabilities allows you to adapt and learn from a given situation.
How we do it?
With the power of our AI platform, SentientSystem®, we can notify assets owners about impending failures. The tool also provides root cause analysis insights and guidance on the best course of action.
SentientSystem® uses artificial intelligence techniques to model and simulate the behaviour and changes to asset systems. By using a hybrid-model of fundamental science, engineering knowledge and machine-learned insight, SentientSystem® learns how system components act. This allows asset managers to detect deviations in system behaviour, be alerted to impending issues and act accordingly to mitigate issues.
Using our platform SentientSystem®, the power of predictive analytics and “what-if” analysis, Synengco can help you drive actionable insights and generate value for your business by ensuring you make the right decisions.
Going one step further with Prescriptive Analytics
At Synengco, we use our artificial intelligence software tool SentientSystem® in conjunction with industry knowledge to bring our customers one step further into the world of prescriptive analytics.
As illustrated in Gartner’s analytics classification, prescriptive analytics is the fourth and final step in business analytics. It emphasises actions taken over data monitoring. It involves using machine learning algorithms, techniques and software that allow you to align models to reality.
Take the power of model alignment and the output from predictive analytics and this allows you to drive actionable insights and find the best scenario from a number of choices. This provides businesses with capabilities like decision support through Asset Performance Management and Real-time optimisation.
At Synengco, we can help you on your business analytics journey, from hindsight to foresight. Our goal is to take the maturity of your organisation’s analytic capability and help guide it to a more “what-if” driven approach. Make decisions with confidence with your new reality aligned models.
The outputs from our use of prescriptive analytics allow us to drive a more all-encompassing solution in the form of Asset Performance Management.