Silicon Valley-backed Element Analytics formally announced their industrial software analytics solution, Element Platform, to the market last month. The San Francisco-based Element Analytics is taking aim at the oil and gas, chemical, utility and mining industries while partnering with OSIsoft and Microsoft’s Partner Network.
The platform and the solution is a good fit for those industries, as those fields tend to rely on proprietary automation and equipment platforms that need optimization. Oil and gas, specifically, moved their strategy from offshore to their current installed base to find profitability and most producers are understanding the need for infrastructure improvement. From the press release, the Element Platform works with OSIsoft’s technology in moving unstructured, operational sensor data from “silos” to a cloud-based analytics platform, where asset models help predict downtime for physical equipment.
“Industrial operators face no shortage of data, says David Mount, Kleiner Perkins’ Green Growth Fund partner and co-founder of Element Analytics. Mounds of data exist, but getting the data to a ready state is core to making it analyzable, predictive and actionable.”
Predictive maintenance technology has been slow to be adopted due to operational and production conflicts, but recent IIoT solutions live on separate platforms. This allows for control platfom updates, like security patches to occur, while not interrupting asset management programs.
The Element platform also uses Microsoft Azure and Cortana Intelligence for the cloud-based analytics.
For more information, visit www.elementanalytics.com