Which strategy focuses on essential assets and employs analytics to minimize maintenance costs?

The strategy that focuses on essential assets and employs analytics to minimize maintenance costs is predictive maintenance. This approach uses data analytics to anticipate potential failures before they occur. By leveraging historical data and real-time monitoring, predictive maintenance allows organizations to identify patterns that indicate when maintenance should be performed. This leads to fewer unplanned outages and reduces overall maintenance costs, as efforts are directed only to the assets that require attention based on their condition and usage patterns.

Predictive maintenance contrasts with other strategies. Reactive maintenance addresses issues after they occur, which can lead to higher costs and downtime. Preventive maintenance involves scheduled maintenance regardless of the actual condition of the equipment, which may not always be necessary. Proactive maintenance attempts to enhance reliability and performance but does not specifically focus on analytics like predictive maintenance does. By utilizing advanced analytics and operating on crucial asset data, predictive maintenance effectively minimizes maintenance costs while ensuring continued operational efficiency.