Itus Launches New Solution, Asset Risk Analyzer™
New free offering analyzes industrial failure risk.
Roanoke, Va. – August 1st, 2022 – Itus Digital today announced the general availability of Asset Risk Analyzer, a free and easy to use solution to assess industrial asset risk and criticality. The solution analyzes maintenance history, calculates operational risk, and identifies assets not performing to industry benchmarks.
Designed for risk, reliability and maintenance professionals, the solution analyzes data across large populations of assets and calculates the operational risk due to equipment failure. The insights generated help asset managers prioritize and justify improvement efforts by answering key questions such as:
- Is my current asset performance aligned with industry norms?
- Which assets are likely to fail during my next planning or production cycle?
- What assets will drive the biggest impact if performance is improved?
Asset Risk Analyzer™ is an ideal starting point for any reliability improvement initiative by identifying critical assets which are candidates for optimized asset strategies. In a seamless workflow, Asset Managers can quantify their operational risk and deploy mitigation strategies through failure prediction, predictive maintenance, and asset health management use cases.
“Ensuring industrial assets are productive, safe and efficient through optimal asset strategies is core to our mission, “said Joe Nichols, President, Itus Digital. “By offering this capability free, it is now possible for anyone to quickly pinpoint risky assets and implement asset strategies to ensure optimal performance.”
The solution is immediately available to asset operators, service providers and OEMs looking to start or reenergize stalled asset performance management initiatives. Accessible from any internet connected device at: www.assetriskanalyzer.com there is no software to download, and registration can be completed in minutes.
“Operations as well as maintenance managers are under increasing pressure to maximize asset availability and production while minimizing costs and risks,” said Malavika Tohani, Verdantix Research Director. “With Asset Risk Analyzer, firms can optimize their asset maintenance planning strategies by prioritizing which maintenance tasks need to be carried out in what order as the solution quickly analyses the work history to identify the riskiest as well as the most critical assets; thereby improving asset reliability, efficiency and environmental performance.”
About Itus Digital
Itus Digital is a team of industrial software veterans maniacally focused on optimizing the performance of industrial assets by fusing apps, industrial engineering expertise and analytics within simple to use and scalable software solutions.