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A recent study from Aberdeen Group calculated the average cost of downtime across all businesses at $260,000 per hour. And as expectations continue to rise, downtime only becomes more costly. To stay competitive, industrial companies need to find a way to minimize downtime and optimize costs.
Fortunately, predictive maintenance is positioned to help organizations achieve those objectives. In fact, predictive maintenance increases productivity by 25% on average, according to Deloitte research.
But building the optimal predictive maintenance strategy isn’t easy. Read on to learn how you can leverage machine learning to design the right strategy for your business and keep operations running smoothly.