IP3 2023 – Industrial IoT (LOT 14869)

This lot is generally related to a technique for management of enterprise assets by predicting failures of a diverse set of asset types. Disclosed is a failure prediction system for prediction of failures in a set of asset types in an enterprise by analyzing asset information related to each asset type and determines an asset type and failure mode for each of the assets. The system selects a prediction model from multiple prediction models for predicting failures in each of the assets based on the asset type and the failure mode of each of the assets. The system provides a universal failure prediction system and eliminates requirement of multiple prediction systems. The technology may be implemented in integrated test environment systems, enterprise analysis systems, root cause analysis systems, etc.