SAN ANTONIO, Jan. 28, 2020 /PRNewswire/ -- DISTRIBUTECH
-- Every year, millions of avoidable asset failures go
unnoticed until the damage is done. While the proliferation of
smart sensors and devices are enabling assets to "talk" about their
health, utilities have struggled to decode this barrage of new data
to hear and understand them. With advanced analytics and pre-built
data visualizations in Oracle Work and Asset Cloud
Service (WACS), utilities can quickly reveal the story their
assets are telling to drive faster, more accurate decisions at a
fraction of the cost.
Breaking down data silos, WACS brings together best-in-class
capabilities for asset and operational device management, GIS and
mobile field service in one platform. Unlike other
solutions that only offer the star schema for reporting, WACS today
offers 118 pre-defined visualizations and 57 base calculations
out-of-the-box, with additional visualization options planned. With
data displayed on easy to consume dashboards, utilities gain the
ability to bypass the need for costly data manipulation and can get
key intelligence into the hands of business stakeholders quickly.
And with all the data coming from the same reporting structure,
utilities can compare metrics and benchmark their performance
against set goals and KPIs.
"Asset failures are consistently linked to costly and
devastating issues for utilities," said Dan
Byrnes, SVP of product development, Oracle Utilities. "It's
critical that utilities do less guessing and more listening when it
comes to the health of their assets. Being able to not only manage
the massive amounts of data coming in but also visualize it in a
way that elicits action is the holy grail in keeping assets
performing effectively and safely. WACS enables utility
stakeholders to make sense of their data right out-of-the-box – no
business analyst degree needed."
The pre-built visualizations allow users to slice data such as
failure count or cost by elements like the asset type or
manufacturer. Users can also choose from an extensive library of
pre-built calculations such as Mean Time Between Failure or Asset
Availability to quickly build their own visualizations sliced any
way they want. With data also flowing freely into the system
from smart, connected assets and devices, utilities
can identify and easily visualize infrastructure weaknesses
throughout the lifecycle of the asset. This includes asset
acquisition, set-up, and performance - such as predictive
maintenance, repair, and inspection activities - through to the
purchasing and inventory of parts.
WACS empowers electric, gas, and water utilities of all sizes to
cost-effectively measure and continually improve performance by
providing centralized support of fixed and linear assets and a
growing portfolio of intelligent devices, to help:
- Prevent failure: by providing ways to identify risks of
asset failure faster and easier; eliminating the day-to-day tasks
of collecting data and maintaining separate systems of record, and;
having the full breadth of asset performance data at the ready to
make business and investment decisions.
- Enhance intelligence: 118 prebuilt visualizations, nine
data subject areas, and 57 base calculations, with more planned to
be added regularly, make it easy for utilities to visualize and
"hear" what their assets are saying. Utilities can also integrate
data coming from their other investments, such as SCADA systems, to
give a truly holistic view of their operations and asset
health.
- Take action: effectively without losing time and
resources to investigate faults; create work orders based on the
criticality of the asset and schedule the field visits and crews
accordingly, and; manage and monitor work progress via
dashboards.
- Optimize performance: of an asset maintenance program by
benchmarking performance. This enables utilities to accurately plan
their investments based on asset conditions and to implement ISO
55000 plans quickly to generate results faster.
In a recent study, sixty-four percent of utilities noted that
cloud computing is critical to their company's future success, in
large part due to the need to better manage an ever-growing pool of
data coming from smart meters, IoT sensors, etc. Utilities realize
that it is becoming too great a task and risk to manage this influx
without a significant investment in tools that can capture and
analyze data quickly. To learn more about how Oracle WACS is
helping utilities manage this deluge of data, visit
here.
About Oracle
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of integrated applications for Sales, Service, Marketing, Human
Resources, Finance, Supply Chain and Manufacturing, plus Highly
Automated and Secure Generation 2 Infrastructure featuring the
Oracle Autonomous Database. For more information about Oracle
(NYSE: ORCL), please visit us at www.oracle.com.
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SOURCE Oracle