Book Description
The rapid advances in data acquisition, communication, storage, and processing technologies in recent years have enabled the transformation of conventional industrial equipment into smart and connected systems as well as the automation of business processes. The wealth of data extracted from these systems presents unprecedented opportunities for applying advanced data analytics to enhance industrial operations and services. Specifically, the data analytics-driven improvements in system performance can be achieved through effective monitoring of the evolution of the system's condition, modeling of complex relationships between industrial processes, accurate and individualized prognosis, and subsequently, using these insights to make intelligent optimal decisions. In this context, the proposed research focuses on a particular kind of data (known as "event data") which are commonly present in data gathered from industrial systems and processes. An event marks the occurrence of an underlying phenomenon in the temporal domain such as critical warnings, failures, maintenance actions, customer interactions, etc. From an analytics perspective, event data present several significant challenges including, but not limited to, non-normality, censoring, heterogeneity, and associations between different processes. This research simultaneously addresses multiple challenges, and the following tasks are pursued. (a) Individualized prognosis of in-field units in presence of unobserved heterogeneity - a method is proposed to dynamically update the heterogeneity parameter and make unit-specific predictions of a succeeding event, (b) Modeling and prognosis in presence of multi-type events - first, a copula-based framework is proposed for prognosis in presence of censoring, and second, a multivariate stochastic process is proposed to capture impact between event-types, (c) Monitoring of event sequences with unknown event-types - an approach utilizing multiple survival models for monitoring is proposed, and (d) Modeling, prognosis, and control of hard failures - a hidden Markov model-based degradation model is proposed for predicting hard failures. Thereafter, a partially observed Markov decision process is employed to recommend optimal maintenance actions. While these methods have been developed in the context of industrial systems and services, they can be generalized and applied to other business contexts as well.