Data and Decision Making: Information & Knowledge

• The Key to All This Analysis is Good Data — Good data costs money but return is substantial — Good data requires planning — clear objective • Attributes of Good Data — Consistent accounting of time, costs and failure data — Typically gathered under anticipated usage conditions — Reflect the actual usage rate of the equipment — Failures have been confirmed — Failure modes and root failure causes have been identified — Corrective actions have been implemented and verified as effective.