The mining industry has suffered from under-productivity over the past few decades and they have naturally looked for ways to turn this around, and digitalization has been one of the chief approaches they have followed. Mining companies have a lot of data at their disposal but it has been very hard for them to capitalize on all their data because of the difficulty in making sense of it all. Mining is an extremely asset-intensive business and it is important for them to minimize unscheduled maintenance by optimizing scheduled maintenance.
Mining companies strive to maximize production, which requires functional equipment. A key to keeping equipment up and running is to minimize unplanned maintenance by optimizing scheduled maintenance. Sandvik worked with IBM to jointly develop an analytics and predictive maintenance solution that uses IBM Watson IoT technology and predictive analytics to better predict and prevent equipment breakdowns. The result: productivity improvements in some areas of between 25 – 30 percent.