Approximately 17,000 wells in the customer's portfolio have beam pump artificial lift technology. While beam pump technology is relatively inexpensive compared to other artificial lift technology, beam pumps fail frequently, at rates ranging from 66% to 95% per year. Unexpected failures result in weeks of lost production, emergency maintenance expenses, and costly equipment replacements.

One of Europe’s largest integrated electric power companies was looking for analytics solutions to reliably forecast equipment failure and improve condition-based maintenance for its coal-fired power plant. With a diverse array of coal, oil, and gas/CCGT power plants, the utility’s more than 50GW worldwide generating portfolio has been under pressure to streamline global operations and reduce generating costs (both CapEx and operations /maintenance O&M expenses) by 7-10%.