Maintenance and repair constitute significant operational costs for many industries, especially those that rely heavily on machinery and equipment, such as manufacturing, transportation, and energy sectors. Therefore, improving the efficiency of maintenance and repair operations can have a considerable impact on an organization’s bottom line.

By leveraging analytics, organizations can move away from reactive maintenance strategies, which involve fixing equipment after a failure, towards more proactive approaches such as predictive and preventive maintenance. These proactive strategies aim to anticipate failures and perform maintenance before they occur, thus preventing costly downtime and prolonging the life of the equipment.