What is asset in SAP IOT-PDM - Predictive Maintenance?

SAP Term: asset

• Component: IOT-PDM

• Component Name: Predictive Maintenance

• Description: A resource with economic value that a company owns or controls with the expectation that it will increase the value of a firm or benefit the firm's operations. An asset can be thought of as something that will generate income, reduce expenses, improve production, and so on. The asset it managed and modeled holistically, comprising, for example, locations, model, and parts.

Smart SAP Assistant

• Key Concepts: 
  An asset is a physical item that has a certain value and is owned by an organization. In the context of SAP's IOT-PDM Predictive Maintenance and Service, an asset is a piece of equipment or machinery that is monitored and maintained using predictive analytics. This helps to ensure that the asset is running optimally and can be serviced before any major issues arise. 
  
  How to use it: 
  SAP's IOT-PDM Predictive Maintenance and Service allows users to monitor their assets in real-time. This allows them to identify potential problems before they become major issues, as well as track the performance of their assets over time. Additionally, users can set up automated maintenance schedules for their assets, ensuring that they are serviced regularly and efficiently. 
  
  Tips & Tricks: 
  When setting up automated maintenance schedules for your assets, it is important to consider the type of asset you are dealing with. Different types of assets may require different levels of maintenance, so it is important to tailor your schedule accordingly. Additionally, it is important to keep track of any changes in the environment or usage patterns that could affect the performance of your asset. 
  
  Related Information: 
  SAP's IOT-PDM Predictive Maintenance and Service also allows users to access data from their assets in order to gain insights into their performance. This data can be used to identify trends and patterns in the performance of an asset, allowing users to make informed decisions about how best to maintain it. Additionally, this data can be used to create predictive models that can help anticipate future problems with an asset before they occur.