So last week I shared an update on Schneider Electric from the ARC Forum–mostly on cybersecurity. A helpful marketing person guided me to the press release with all the data that updated the software side of the week’s news–specifically asset performance management. For the most part the discussion did not center on product updates but on “increasing momentum surrounding customer adoption”. In other words, Schneider wanted to highlight an area of software not often brought to center stage and show that it is a growth area.
Kim Custeau (I misspelled her name in my last post, I believe–thank you autocorrect), Asset Performance Management Business Lead, shared how investments in the cloud, advanced machine learning, and augmented reality, coupled with new partnerships, have empowered customers.
“Defining and executing an asset performance strategy is a critical component to improving productivity while safeguarding business continuity,” she said. “We have been delivering proven, industry leading asset performance solutions for nearly 30 years, and continue to invest in a long-term strategy to drive innovation in this area. Our focus is to provide real value to our customers by empowering them to maximize return on capital investment and improve profitability. We are proud to see our customer results speak for themselves with significant savings.”
Machine learning and prescriptive analytics:
- Duke Energy prevented an estimated $35 million cost from early warning detection of a steam turbine problem
- Ascend Performance Materials now responds faster to alerts saving an estimated $2 million through avoided plant shutdowns
- BASF is implementing AR to improve asset performance, reliability, and utilization while increasing production efficiency and safety because technicians leverage an augmented digital representation of the asset.
Cloud and Hybrid Deployment:
- WaterForce partnered with Schneider Electric to develop and IIoT remote monitoring and control system in the cloud that allows farmers to operate irrigation pivots with greater agility, efficiency, and sustainability.
- MaxGrip and Schneider Electric announced a partnership to expand APM consulting and add Risk-based Maintenance capabilities. The APM Assessment is a first step for industrial companies to evaluate asset reliability and digital transformation strategy.
- Schneider Electric and Accenture completed development of a Digital Services Factory to rapidly build and scale new predictive maintenance, asset monitoring, and energy optimization offerings. As a result, a large food and beverage company saved over $1 million in maintenance costs