In virtually all manufacturing industries today, Asset Performance Management (APM) is increasingly (and rightfully) being seen as integral to both operational and financial success. And metrics are essential in the tracking of both.
Today's technology advancements like Big Data, Cloud, Mobile, and the Internet of Things (IoT) are allowing today's APM professionals to add to their arsenal of tools for measuring APM performance. But despite this wealth of information, many companies struggle to effectively manage this area of the business successfully. In this Research Spotlight, LNS Research identifies and defines the most widely used and important metrics in APM, as well as how to use them. Specifically, LNS Research explores:
- Definitions and guidelines for 18 of the most widely used APM metrics
- The importance of user role and what considerations are necessary at different levels of the business
- Differences in metric priority and approach in process vs. discrete industries