British company AVEVA, which specialises in industrial software, has launched its latest Predictive Analytics platform
The software can be used for early monitoring of industrial assets in oil and gas, power, chemicals, mining and minerals, and manufacturing. The software helps industrial operators achieve reliability of industrial assets while improving sustainability.
With the help of this software update, stakeholders in assets will be able to make more profitable decisions by being able to deploy, validate, maintain, and properly comprehend the outcomes of predictive models.
Model building is now automated in the latest release. Users now have the option to deploy new predictive models on their own with this innovative feature. As a result, the deployment and scaling of the predictive maintenance system may be completed much faster while also eliminating errors and guaranteeing model development consistency.
David Bleackley, value chain optimisation lead at AVEVA said: “Data is the new currency of the industrial world and an effective predictive asset monitoring strategy is predicated on the ability to continuously transform massive amounts of sensor data into clear and actionable results.
“Operationalising a predictive monitoring programme at scale has never been easier than it is now with AVEVA’s PI System and latest predictive analytics software release.”
The company has partnered with ARC Advisory Group for the development of the project.
Inderpreet Shoker, director of research at ARC Advisory Group said, “The predictive analytics market continues to evolve as the technology has advanced to a point where the data can be leveraged in such a way that asset stakeholders can easily operationalise predictive monitoring of their assets at scale enabling rapid improvements in asset reliability and performance.”
AVEVA allows customers to bring their own algorithms to the software. This enables data science teams to add their own artificial intelligence algorithms and intellectual property to the solution.
“This latest update demonstrates AVEVA’s continued leadership in creating innovative solutions that transform the global industrial analytics market,” Bleackley added.