With advances in real-time data capture and streaming architecture, it is now possible to have real-time data monitoring, where an organization can gain real-time insight into individual components and all processes. Monitoring still requires active involvement and quick responses—for example, an oil well sensor that is indicating increased temperature or volume or a network traffic for bot-net activity or insider threats.
Let's consider a real-world example called equipment failures in industrial engineering, which is always considered a costly issue. Conducting preventative maintenance at regular intervals has always been the conventional strategy. Consequently, the schedules tend to be very unadventurous, which is often based on operator experience. This manual intervention has several downsides. Firstly, it tends to increase maintenance...
