Once again, we appreciate the opportunity extended by Prof Rao to MFPT to provide the entire content for this issue of COMADEM's International Journal. MFPT was founded in 1967 with the aim of gaining a better understanding of how equipment operates so that designers and operators could determine how to improve the reliability of future equipment. We, and the condition monitoring world as a whole, have come a long way in the last 50 years in our understanding of the behavior of complex systems and, when I look back at the remarkable accomplishments, especially in data analysis techniques, I often wonder if we are near the end of the discovery trail or whether there is still a lot more to discover. We have certainly moved on from the early days when we were only able to extract a small amount of knowledge from the data available, to now dealing with "Big Data" and relishing the much greater level of knowledge that we can derive from vast, disparate and complex data sets, including accurate predictions of when costly or unsafe faults will occur. I thus sense that the world of Condition Monitoring for Failure Prevention still has significant untapped potential just as we felt back in 1967.
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