Teradata, a leading analytics solutions company, recently announced “Analytics of Things Accelerators” (AoTAs). These are four powerful software-and-service solutions that speed up the transformation of Internet of Things (IoT) data to actionable insights. The company launched IoT analytics based on proven IP to transform sensor data streams into ROI streams.
Teradata’s AoTAs, available immediately, are derived from field engagements at the world’s largest, most innovative IoT companies in manufacturing, transportation, mining, energy and utilities. The solutions comprise of technology-agnostic intellectual property (IP) and professional services, applied approaches proven to reduce implementation cost and risk, accelerate time to value, and drive business returns far greater than the initial investments.
The Internet of Things is blending the physical and digital worlds transforming industries and the way we live and work. Yet there lies challenges in generating business value from enormous volumes of IoT sensor data. This is where Teradata’s new solution provides direction and differentiation as well as ROI.
Teradata AoTAs help organizations determine what sensor data to trust and keep, while choosing types and combinations of analytical techniques to best address specific business questions. The accelerators help organizations move from ‘brute force’ one-off projects to enterprise-class solutions scaling across thousands of complex devices and countless assets that result in continuous positive business impact.
Specifically, the Teradata AoTAs consist of:
1) A Condition-Based Maintenance Accelerator, which continuously monitors and analyzes asset data at scale to increase availability, improve safety, and reduce costs;
2) A Manufacturing Performance Optimization Accelerator, which identifies complex production problems across equipment performance and availability for quick corrective action
3) A Sensor Data Qualification Accelerator, which automates recommendations on the optimal frequency of sensor readings based on relevant anomaly patterns.
Additionally, Teradata offers a Visual Anomaly Prospector Accelerator, which mines large amounts of multidimensional time series (MTS) data, and visually helps an end user discover anomaly patterns that frequently precede a key event.
“Based on interviews that I conducted with eight Teradata customers across several industries, IoT applications at those companies are generating impressive business value. As shown in our study, this value comes from the analytics applied to sensor data that is blended with traditional data about customers, products, and the like,” said Dr. Richard Hackathorn, president and founder of Bolder Technology, Inc. “By leveraging the expertise from previous IoT engagements, these new Analytics of Things Accelerators can enable companies to realize value faster and enhance success for their IoT projects.”
“Internet of Things (IoT), across both the enterprise and consumer segment is expected to grow exponentially over the next decade. According to industry sources, 75 percent of businesses in India in the utilities, telecom, transportation and oil/gas industry are tapping or have plans to implement Internet of Things. These are likely to be in segments as diverse as security and surveillance, supply chain management, inventory and warehouse management and customer order monitoring among others. We therefore foresee India adding significant value to the overall IoT market in the near future and Teradata’s ‘Analytics of Things Accelerators’ can enable companies to incur insights faster and more efficiently from their IoT deployments”, said Mr. Sunil Jose, Managing Director, Teradata India.
The study revealed highest levels of deployment and planned deployment among businesses in the utilities and telecom, chemicals and oil/gas, as well as transportation. Common deployments of IoT involved security and surveillance, supply chain management, inventory and warehouse management, and customer order monitoring.
“Teradata AoTAs are already addressing and resolving $100 million-dollar problems for premier producers of vehicles, equipment, oil and gas systems, and consumer goods,” said Oliver Ratzesberger, Executive Vice President and Chief Product Officer, Teradata. “These challenges represent billion-dollar budgets for each company, to be clear on the scale of business value addressed by AoTA. For example, our AoTAs have increased Overall Equipment Effectiveness as much as 85 percent, while also improving predictability and asset availability. We are seeing a lot of excitement around our Accelerators, because the return on investment is transformational in scope and compelling in business impact.”