Product News: AVEVA's AI-powered Predictive Analytics software

AVEVA announced the launch of its latest AVEVA Predictive Analytics software release, purpose-built for predictive monitoring of industrial assets in oil and gas, power, chemicals, mining and minerals, and manufacturing. The software promises to help industrial operators achieve higher levels of reliability and performance of industrial assets while improving sustainability and increasing workforce productivity.

This software release makes it significantly easier to deploy, validate, maintain and clearly interpret the results of predictive models, enabling asset stakeholders to make better, more timely and informed decisions to improve profitability, per AVEVA. The new release features automated model building to enable users to autonomously deploy new predictive models in a single action, reducing the time required to deploy and scale the predictive maintenance solution while eliminating errors and ensuring consistency in model development.

Inderpreet Shoker of the ARC Advisory Group said, “With rising market pressures industrial organizations must find ways to facilitate agile, resilient, and profitable operations. 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 operationalize predictive monitoring of their assets at scale enabling rapid improvements in asset reliability and performance.”

AVEVA touts its bring-your-own-algorithm capability to enable data-science teams to add their own AI algorithms and intellectual property to the solution. Furthermore, deep integration with the AVEVA PI System ensures AVEVA’s customers are continuing to capture increased value from their existing industrial software investments, they claim.

“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," said David Bleackley, value-chain optimization lead at AVEVA. "Operationalizing a predictive monitoring program at scale has never been easier than it is now with AVEVA’s PI System and latest predictive analytics software release. This latest update demonstrates AVEVA’s continued leadership in creating innovative solutions that transform the global industrial analytics market.”