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Digitalization and software solutions

Digital solutions for managing risk and improving safety and asset performance for ships, pipelines, plants, offshore structures, electric grids, smart cities and more. Our open industry platform, cyber security and software solutions support business-critical activities across many industries, including maritime, energy and healthcare.

statistics

Posts tagged with 'statistics'

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Ageing Equipment items and the Bathtub Curve

Ageing Equipment items and the Bathtub Curve

One challenge that every reliability engineer face throughout their career is the lack of reliable reliability data. This issue "forces" most RAM modellers to utilise failure patterns that remain constant over time - the reason being only one: simpli ...

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Statistics and Probabilities – The heart of RAM analysis

Statistics and Probabilities – The heart of RAM analysis

Contribution from my colleague Varun Mittal: There are two major applications of probability theories and statistics in everyday life, one being risk assessment and other in-trade on commodity markets. Risk assessment in our context refers to RAM ...

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Our brain: the best event driven simulation engine

Our brain: the best event driven simulation engine

RAM analysis and, more generally, statistical methodologies are perceived to be very complex. However, we live and see "statistics" - no question about that. Every day we are obliged to make decisions and, most likely, our past experiences (proba ...

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