Method and system for performing multi-objective predictive modeling, monitoring, and update for an asset

• Main Authors: SUBBU, RAJESH V, SCHMID, JAMES J, SHAH, RASIKLAL P, YAN, WEIZHONG, BONISSONE, PIERO P, KNODLE, CHAD E, IYER, NARESH S, EKLUND, NEIL H
• Format: Patent
• Language: English; French; German
• Published: 02.11.2006
• Subjects: CALCULATING; COMPUTER SYSTEMS BASED ON SPECIFIC COMPUTATIONAL MODELS; COMPUTING; COUNTING; PHYSICS

A method and system for performing multi-objective predictive modeling, monitoring, and update for an asset is provided. The method includes determining a status of each of at least two predictive models for an asset as a result of monitoring predicted performance values. The status of each predictive model includes at least one of: acceptable performance values, validating model, and unacceptable performance values. Based upon the status of each predictive model (104), the method includes performing at least one of: terminating use of the at least two predictive models (104) for the asset, generating an alert for the asset of the status of the at least two predictive models (104), and updating the at least two predictive models (104) based upon the status of the at least two predictive models (104).