Smart Asset Management for Electric Utilities: Big Data and Future
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This paper discusses about needs and ways to improve predictive maintenance in the future while facilitating the electric utilities to make smarter decisions about when and where maintenance should be performed. Utilities have been collecting data in large amounts but they are hardly utilized because they are huge in amount and also there is uncertainty associated with it. Condition monitoring of assets collects large amounts of data during daily operations. The question arises 'How to extract information from this large chunk of data?' The concept of 'rich data and poor information' is being challenged by big data analytics. Along with technological advancements like Internet of Things, big data analytics will play an important role for electric utilities. The aim will be to make the current asset management more smarter than it was, and this work describes some pathways.
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