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Currently, Info360 Asset calculates deterioration curves using a two-parameter Weibull formula, while InfoAsset Planner (IAP) uses a three-parameter Weibull formula that includes a location parameter.
When clients migrate from InfoAsset Planner to Info360 Asset, they often notice that their deterioration curves appear different even when using the same underlying data and parameters. This difference occurs because the mathematical formulation used to calculate deterioration is not the same between the two systems.
Many utilities have been using their IAP deterioration curves for planning and investment decisions for many years. As a result, changes in the deterioration curve behaviour during migration to i360 can have a significant impact on predicted asset life, risk profiles, and investment strategies.
Additionally, Info360 Asset does not provide visibility into which formula is used, nor does it allow users to choose the Weibull parameterization used in the deterioration model.
Proposed Enhancement
Allow users to select the Weibull formulation used in deterioration modelling, such as:
Two-parameter Weibull (β, η) – current approach used in Info360 Asset
Three-parameter Weibull (β, η, c) – approach used in InfoAsset Planner
This could be implemented as a toggle or configuration option within the deterioration model settings, allowing i360 to calculate curves using the selected formula.
It would also be beneficial to clearly communicate which formula is being used so users can understand how deterioration is calculated.
Including clear documentation describing the formula used, the parameters involved, and how deterioration curves are calculated.
