by Jack R. Nicholas, Jr. and Elsa K. Anzalone:
There is a fourth paradigm shift developing in the way organizations handle asset condition monitoring (ACM), formerly called predictive maintenance (PdM) before the ISO55000 asset management standards series was issued in 2014.
This shift follows previous major changes in ACM/PdM programs, with the first being when equipment went from heavy, cart transportable packages for data collection and some analysis (1980s) to microprocessor-based, handheld packages.
The second significant change was when desktop personal computers with robust software programs and substantial memory capacity and portable laptop computers for field use came into use (1990s). Together, they transformed collection, storage and analysis of data for asset condition monitoring and prediction.
The third shift began with the application of wireless technology to condition data collection and the introduction of highly sophisticated analysis software programs and integration of data from multiple technologies for management, reporting and focusing of maintenance actions on improving asset performance and availability.
The fourth and latest shift involves the use of the Internet of Things (IoT), cloud computing, big data management, analytics and communications using tablet computers and cellular fourth generation (4G and in a few years 5G) long-term evolution (LTE) technology.
Original link here.