The NRX Blog
From Chaos to Control: How Master Data Governance Enables Consistency Across Systems
According to Experian, enterprises lose up to 30 percent of potential revenue due to poor data management and lack of consistency across systems. Clearly, this is more than inefficiency. It is a serious business risk. Today, companies manage an expanding mix of...
Master Data Governance 101: Why It’s the Backbone of Enterprise Data Strategy
According to Gartner, organizations believe poor data quality is responsible for an average of $15 million per year in losses. This staggering figure highlights the critical role of master data governance (MDG) in any enterprise data strategy. Today’s digital-first...
Common Pitfalls to Avoid During Maintenance Plan Migration
A McKinsey study found that nearly 70 percent of digital transformation initiatives fail. This is often due to poor planning, unclear migration strategies, and a lack of stakeholder alignment. The process of migrating maintenance plans is a critical step when...
Why Visualizing Maintenance Plans is a Game-Changer for Asset-Intensive Industries
According to Forbes, unplanned downtime costs industrial manufacturers an estimated $50 billion annually. A large portion of this downtime is due to equipment failure that could be avoided with better maintenance planning and visualization. In asset intensive...
Safeguarding Critical Assets: The Strategic Value of PM Optimization
A study by ARC Advisory Group revealed that nearly 82% of industrial asset failures occur randomly, even in seemingly well-maintained environments. This underscores the urgent need for PM optimization. It's not just a matter of improving efficiency, it’s essential for...
How Consolidating Duplicate PMs Can Unlock Hidden Efficiency Gains
According to the U.S. Department of Energy, nearly 30% of preventive maintenance tasks are redundant or inefficient. This can be a costly drain on time and resources in industrial settings. In many EAM systems, whether using IBM Maximo, HxGN EAM, or Oracle EAM, this...
Integrating AI P&ID Extraction with Asset Management Systems
Engineers spend the majority of their time searching for information within technical documents such as P&IDs. This inefficiency is now being solved with artificial intelligence. What Is AI-Based P&ID Extraction? Piping and Instrumentation Diagrams (P&IDs)...
ISO 14224 vs Other Maintenance Standards: What Sets It Apart?
A recent study found that unplanned downtime costs industrial manufacturers an estimated $50 billion annually. With stakes this high, choosing the right maintenance standard—such as ISO 14224—isn't just important, it is essential. Understanding the Landscape of...
Key Metrics That Power Smarter Asset Scheduling
According to a maintenance study conducted by Plant Engineering, the average facility now spends 33 hours per week on scheduled maintenance, up from just 20 hours in 2020. That increase reflects a growing awareness of maintenance planning’s impact, but also raises the...
The Role of Asset Criticality in Risk-Based Maintenance Planning
Maintenance teams across asset-intensive industries face a common challenge: a growing backlog of requests with limited visibility into which tasks truly matter most. When every piece of equipment feels urgent and resources are stretched thin, the inability to...