Business Intelligence and Machine Learning Methods for Predictive Maintenance in Greek railways

Abstract

The extraction of useful information supports the process of making business decisions. In every mechanical process, application or service, the periodic maintenance of the necessary equipment is an expensive process and therefore the technicians and the supervisors have the responsibility of the proper decision making. At the railway companies, a huge amount of data is produced which, with the appropriate processing and smart business systems, can attribute quality information and knowledge. In this paper, the benefits of the business intelligence are presented with the techniques of machine learning and data mining involved of the Greek railway companies, which use obsolete procedures of maintenance. In addition, a study of the present situation is held as well as a record of the needs and requirements of the railway companies. At the same time, tools (open source of low cost) of machine learning and data mining are examined that can assist on the creation of a new strategic support of decisions for the development of the predictive maintenance of the Greek railways making a new complete system of business intelligence. Finally, the results and the motives of the railway companies are presented in order to create applications which can constitute the basic tool for the improvement of making decisions by the business's administration.

The role of machine learning in transforming business intelligence

“…ML algorithms can process and analyze data in real-time, allowing organizations to gain insights and respond quickly to changing conditions. Real-time analysis enables businesses to detect emerging trends, identify potential issues, and make immediate adjustments to strategies or operations [20] . This agility provides a competitive edge in fast-paced and dynamic business environments.…”