Failure probability modeling
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Active application of probability modeling helps to increase performance, predict occasional failures in the functioning and as a result to reduce maintenance costs. The efficiency of the machine learning algorithms in the failure prediction is reliable and best.
For people who rely on these companies as their energy source the situation gets critical. As a result, general reliability and image of the energy provider may suffer.
Benefits for the company
The energy companies invest vast amounts of money into maintenance and proper functioning of their machines and devices. Unexpected failures in their operations result in considerable financial losses
Feasability
High
Type of expertise/ AI domain
Machine Learning and Statistics
Internal data required
Safety, Maintenance logs, Historic Failures
Failure probability modeling is a neccesity in the energy industry.