Future-Proof Your AV investments: The Financial Case for Predictive Maintenance

The maintenance of audio-visual equipment can be costly, and a big problem for firms trying to maximise their investments. Predictive maintenance is transforming how businesses are managing their AV assets. Not only will it help improve the durability of the equipment, but it will also save considerable amounts of time and resources. 

In an industry characterised by the presentation of information, proactive maintenance is central to ensuring equipment is effective in keeping audiences informed and engaged. 

Understanding Predictive Maintenance 

Predictive maintenance proactively leverages data and advanced analytics to anticipate when equipment is likely to fail. Instead of routine maintenance or a run-to-failure (RTF) approach, maintenance can be performed just in time before serious issues occur. This is possible with a continuous flow of real-time data, taken by technology such as artificial intelligence (AI), machine learning (ML) and Internet of Things (IoT) sensors. Data is collected and analysed for trends, patterns and abnormalities that might suggest impending bugs in the system. Therefore, maintenance is only initiated when it is absolutely necessary, minimising downtime and saving money. 

The Financial Benefits of Predictive Maintenance 

Implementing predictive maintenance technology into your AV ecosystem will not be cheap, as it involves a large upfront investment, as well as employee training. However, these costs must be weighed up against the benefits. Deloitte found that predictive maintenance can reduce downtime by 20% and increase productivity by 15%, as well as increase the longevity of the equipment. 

So, why should you invest? 

1. By monitoring the equipment, downtime and therefore disruption to the business flow is decreased. Expensive emergency repairs are proactively avoided, and the lifetime of the equipment is increased. 

2. By providing an enhanced service to your customer base, you have the opportunity to increase your income stream. 

Implementing Predictive Maintenance in Your Business 

It may seem daunting to begin integrating predictive maintenance into your business but with the right approach, the transition will go smoothly. Depending on the data you want to collect, you may choose to install IoT sensors on your equipment. These sensors will enable you to analyse several aspects of performance, for example: temperature, vibration, power usage and sound.  

The data is then fed into a predictive maintenance system which uses algorithms involving AI and machine learning to analyse it and highlight anomalies which may indicate faults. Rises in temperature, irregular vibrations, and unusual sounds undetected by the human ear are all examples of abnormal activity.  This can trigger an alert of any potential issues, giving you the time to organise maintenance before the failure even occurs.  

Predictive Maintenance in Action 

It might be a relatively new phenomenon, but predictive maintenance is already transforming other major industries aside from AV. Currently, 47% of global manufacturers are using predictive maintenance systems to reduce their operational costs. For energy companies, even a small power outage can cost millions in compensation and significant losses in the customer base, so predictive analytics are vital in preventing unforeseen downtime. Rail transport companies can use predictive maintenance to identify brake failures or track deformations, preventing disruption to services and ensuring passenger safety.  

In the AV world, predictive analysis of projection screens can help identify possible problems such as discolouration or surface degradation. Avinton’s Sound AI is an example of intelligent audio analysis which uses audio signal sensing to provide anticipatory warnings of equipment failure or suspicious behaviour. 

Installing predictive maintenance into your systems might seem like a big investment initially, but being able to sell technology that proactively reduces downtime will inevitably lead to more customers for your business Your customers will see the increased longevity and reliability of their equipment using your predictive maintenance, which will improve their satisfaction with your service. 

In summary, through processes of condition monitoring, failure prediction and fault diagnosis, predictive maintenance can revolutionise your AV technology and the businesses of your customers. The ability to sell a product with built-in, downtime-reduction technology will attract new business and impress existing customers, making your products stand out in an overstocked market. 

Takeaways and Next Steps 

• Predictive maintenance could transform your business and the services you can offer thanks to decreased downtime and money-saving.  

• Whilst it is a large investment, the ROI is very promising. 

  
  

So, What Next? 

Check out these companies who offer Predictive Maintenance Software: 

1. Fiix CMMS by Rockwell Automation 

   An asset risk predictor using AI (suited for smaller companies with limited inventories) 

2. IBM Maximo 

   IoT sensor data analytics with remote monitoring and industry specific solutions 

3. Facilio 

   IoT-based interoperability, smart inventory management, user-friendly