Method and system for regime-based process optimization of industrial assets

Abstract

This disclosure relates to a method and system for regime-based process optimization of various assets of industrial manufacturing and process plants or units. Operating regimes of assets are identified and a regime similarity score of each asset is computed from regime sequences of integrated industrial data and compared with a given threshold to identify regimes of operation. Operating regimes are matched with regimes of regime database and industrial assets and similar operating regimes are group together. Process optimization is carried out for each group of industrial assets to identify optimum settings in order to maximize output or minimize loss/cost considering process and equipment constraints. Anomalies are analyzed in the unmatched operating regimes and a diagnosis is carried out to identify the root cause for any detected anomalies. Remaining useful life of components in the assets with unmatched operating regimes is estimated to ensure component reliability and to prevent failure.