ELMAS is a modelling and simulation software specialized in reliability management and it operates in the field of advanced analytics when it comes to Industrial Internet of Things. Thanks to IIoT the amount and especially the quality of the collected data will be increasing and therefore significantly reducing the work effort required to use advanced analytics. Also ELMAS will benefit from the increased quality and accuracy of the available data as the need for reviewing the imperfect history data using various expert resources is no longer as critical as before.
Advanced analytics allow organizations to prepare for future events in a preventive manner (predictive analytics
) and to create versatile calculation models for different improvement alternatives and use the results acquired from these calculations to develop the overall operations of the organization (prescriptive analytics
). When operating with completed IIoT systems ELMAS provides assistance in understanding the consequences of different equipment events and event chains for the operation of the whole system. The cause-consequence models describing the equipment operations are created into the software and they utilize the history event data collected into the data storage. By simulating the models together with the event data ELMAS can provide a clear view on the expectable future behavior of the equipment considering their reliability and life-cycle costs. This way the available raw data can be processed into important knowledge about the most significant equipment risks and used to create profitability calculations about different investment options considered for the equipment or the whole process.