In large enterprises, asset management decisions to repair or replace a “bad” asset approaching the final phase of its life cycle present a big challenge. The wrong choice can directly affect profitability, leading to downtime or unnecessary costs. If you replace an asset too soon, you are wasting resources, but if you delay too long choosing repairs instead, operations can be put at risk. Sound asset management was a natural pain point, too, for our client, a leading retailer operating thousands of stores in many countries. They needed to know precisely what was the best course of action for their vast assets to improve cost efficiency. The retailer approached ITRex, its long-standing tech partner in big data services, for assistance with building an enterprise-grade data analytics solution for ML-powered decision-making.
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