No More Device Breakdown - World with Predictive Service Maintenance

It’s a New Year!!! I wish everyone a breakdown free a Very Happy & Prosperous New Year.

Who will not wish that their car/gadgets/consumer goods or any other devices never ever breaks down!!! Can’t your devices become so smart that it provides you or your service provider warning message that device breakdown is imminent and informs service provider exact problem details to fix the issue before hand? But will this happen in 2015? In fact it is already happening and predictive analytics & Internet of Things is making this possible.

At present predictive service maintenance is applied on very few devices, mainly high technology devices used by corporates only. But I am expecting more consumer devices to be covered under predictive service maintenance in coming years. Please note that it is not just about collecting data remotely from customer assets and sending it to service providers but it is about analyzing this data continuously and predicting with certain probability that breakdown is imminent. Service provider can fix this issue remotely or schedule field technician visit before breakdown and avoid unwanted breakdown completely. Best part is that, it doesn’t require any break through as we already have most of the technologies to provide predictive services. Best in class service providers have already identified preventive service maintenance as a great opportunity for their revenue growth as well as to be a differentiator in highly competitive industry. Predictive analytics will help service providers deliver more proactive services to end users and help them to score well on service success metrics. You can read more on how predictive Service maintenance will help service provider score well on key service success metrics in my article.

Preventive Service maintenance provides win-win situation for both end users and service providers. Service industry will move from reactive mode to more proactive service mode. I am expecting a major role of preventive maintenance services in service industry growth in coming years. Are you using any devices which is covered under predictive maintenance contracts? Let me know your views.