Tech giant Oracle introduced two new tools for utilities companies today: Oracle Utilities Work and Asset Cloud Service. Both services provide utilities companies with asset performance management (APM) tools that will be delivered through the cloud.
Oracle said the two services are designed to increase asset reliability by helping companies find asset failures more quickly and supporting predictive maintenance with integrated APM and analytics.
“Asset reliability and performance is core to well-functioning electric, gas, and water utilities,” the company said in a statement. “An aging workforce, pressure from regulators, and scrutiny on cost reduction goals are driving the need to extend the life of existing assets.”
Increased Interest in Analytics
The move within the utility sector toward distributed energy resources is making asset reliability an increasingly complex issue. One of the ways utilities are addressing the issue is by investing in analytics and performance monitoring tools for enterprise asset management in
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