The technology capability to connect assets in a smart way - in a way that makes sense - has been around for some time. Today awareness, Big Data and Analytics, the Cloud, Mobile, and IIoT platforms have made the power of Smart Connected Assets possible.

A Smart Asset
Asset-intensive organizations have invested large amounts of capital in existing asset infrastructure. Historically, operations protected the raw real-time data generated by sensors on the equipment to preserve the security and response time of their production systems. The internet has advanced to the point that security is top-of-mind and must be constantly monitored to stay ahead of the latest hacking algorithms. Response time and the integrity of the production environment must be assured.

Now these assets can provide near-real-time data generated by the asset to maintainers providing its condition and indications of when it may fail. To enable this capability, existing assets may have to be refitted with additional sensors to provide this maintenance-sensitive data. 

Connected Assets
Connecting Smart Assets is much like building a relational data base. We now connect Smart Assets to reflect their cause-and-effect relationship.

The next step is Intelligence. Modern Analytics using Artificial Intelligence and Machine Learning among other tools are the ingredients for Intelligence that can self-diagnose issues, order the correct part just in time to be replaced, or send the OEM useful feedback for its next design. This is a long-term view leading to near-real-time operations of assets using an IIoT platform.

Throughout all this change, we know that the management system for Asset Management as specified by ISO 55000 will remain constant. Why? Because ISO 55000 is all about governance, not the specifics of how to manage physical assets. Check out FORTIG, ISO 55000's digital twin.