article thumbnail

What is smart transportation?

IBM Big Data Hub

The rise of interconnected technologies like the Internet of Things (IoT), electric vehicles, geolocation and mobile technology have made it possible to orchestrate how people and goods flow from one place to another, especially in densely-packed urban areas. The solution is smart transportation.

article thumbnail

Asset lifecycle management strategy: What’s the best approach for your business?

IBM Big Data Hub

The following are the six stages of asset lifecycle management: Planning: In the first stage of the asset lifecycle, stakeholders assess the need for the asset, its projected value to the organization and its overall cost. Reduced maintenance costs and downtime: Monitor assets in real time, regardless of complexity.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Asset management vs. parts inventory management: What’s the difference?

IBM Big Data Hub

Here are some of the benefits of effective asset management software: Centralized asset information: Maintenance workers need to know where an asset is and how it’s performing at all times. In order to do this, many use a computerized maintenance management system (CMMS) as part of their overall EAM approach.

article thumbnail

Asset lifecycle management best practices: Building a strategy for success

IBM Big Data Hub

Planning In the first stage of the asset lifecycle, stakeholders assess the need for a new asset, its projected value to the organization and its overall cost. At this point, it’s important to weigh the depreciation of the asset against the rising cost of maintaining it. The four stages of ALM 1.