Cost-driven system and method for predictive equipment failure detection

A method includes identifying costs associated with different outcomes of a failure prediction algorithm. The algorithm is configured to predict one or more faults with at least one piece of industrial equipment. The different outcomes include both successful and unsuccessful predictions by the algo...

Full description

Saved in:
Bibliographic Details
Main Authors Germann, David J, Light, Marc, Stewart, Gregory E, Zirnstein, Jan, Grunow, Jonathan T
Format Patent
LanguageEnglish
Published 15.09.2020
Subjects
CALCULATING
COMPUTER SYSTEMS BASED ON SPECIFIC COMPUTATIONAL MODELS
COMPUTING
CONTROL OR REGULATING SYSTEMS IN GENERAL
CONTROLLING
COUNTING
FUNCTIONAL ELEMENTS OF SUCH SYSTEMS
MONITORING OR TESTING ARRANGEMENTS FOR SUCH SYSTEMS ORELEMENTS
PHYSICS
REGULATING
Online AccessGet full text

Cover

More Information
Summary:A method includes identifying costs associated with different outcomes of a failure prediction algorithm. The algorithm is configured to predict one or more faults with at least one piece of industrial equipment. The different outcomes include both successful and unsuccessful predictions by the algorithm. The method also includes identifying a threshold value for the algorithm using the costs, where the threshold value is used by the failure prediction algorithm to identify whether maintenance of the at least one piece of industrial equipment is needed. The method further includes providing the threshold value to the algorithm. The threshold value is selected such that a net positive economic benefit is obtained from use of the threshold value with the failure prediction algorithm. In addition, the method can include generating a signal indicating whether maintenance is needed based on a comparison of an indicator value calculated using the algorithm and the threshold value.
Bibliography:Application Number: US201615053978