This ARC Forum company update looks at a new Business Unit of AspenTech called AspenTech DataWorks. Probably relevant to this discussion is a quote from Nassim Nicholas Taleb’s Fooled By Randomness, “The more data we have, the more likely we are to drown in it.”
The founders of inmation Software, recently acquired by Aspen Technology must have had this in mind as they developed technology for making sense from data.
The week in Orlando every year always gives me a chance to catch up with Mike Brooks, Global Director of APM Solutions at AspenTech. He always has something interesting to talk about. He was part of the leadership team that sold Mtell to Aspen Technology in 2016. That brought predictive and preventive maintenance technology applications to the AspenTech portfolio. Under the covers of the tech was the use of machine learning—a technology now hitting all the media headlines as AI.
Brooks always grounds my thinking about ML as a useful technology not for the marketing hype but for actually using AI as an enabler for asset management. He explained how ML is more adaptable than model predictive control because of its iterative nature. It analyzes data iteratively and can then run the scenario out for 40 days in a predictive mode.
Dwain Plauche, Sr. Manager DataWorks Product Marketing, joined the meeting to explain the new business unit, DataWorks.
They consider the past of turning data into value as a trickle. The idea of the new AIoT Hub plus inmation Software is to turn that trickle into a stream. Now known as AspenTech DataWorks, the rebranded business unit provides customers with a singular solution to access and manage their industrial data, whether at the plant level or enterprise wide, in support of their digital transformation strategies.
Asset-intensive industries looking to maximize value from industrial data often are challenged to do so securely and economically as the data is often trapped in different silos across the organization. AspenTech DataWorks addresses these challenges by aggregating and contextualizing data, both transactional and real-time, from assets across the enterprise using powerful integration technology. With this unique, industry leading offering, organizations are now able to realize successful digital transformation, with capabilities including:
Data Governance – Centralized, flexible data management that supports contextualization and user access control, as well as encryption for all data types
Connectivity – Vendor-neutral connectivity to all major OT and IT interfaces that allows organizations to integrate data from disparate sources and manage from a centralized system
Data Integration– Value-added application enablement such as advanced analytics, decision support, and AI