AVEVA Advances Predictive Analytics Market with New AI Powered Software Release

Global industrial software leader delivers iconic new software release for predictive monitoring of industrial assets to improve asset performance and reduce risk

• Global industrial software leader delivers iconic new software release for predictive monitoring of industrial assets to improve asset performance and reduce risk
• Latest release of AVEVA Predictive Analytics is the culmination of 15 years of experience and refinement in the use of AI and machine learning to optimize industrial asset reliability and performance

London, UK , 22 February 2023  – AVEVA, a global leader in industrial software, driving innovation and sustainability, announces 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 helps industrial operators achieve the highest possible 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.

The new release features automated model building. This new capability enables users to autonomously deploy new predictive models in a single action.  This greatly reduces the time required to deploy and scale the predictive maintenance solution while reducing errors and ensuring consistency in model development.

Inderpreet Shoker, 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.”

 “Key for success is connecting data, systems and processes, enabling people throughout operations and maintenance to make, and act upon, decisions confidently. Scalability of predictive maintenance efforts for maximum return on investment will definitely be seen as a must have for many industries going forward.” Continued Inderpreet Shoker, ARC Advisory Group.

AVEVA continues to deliver on market and customer requirements with a bring your own algorithm capability.  This enables data science teams to add their own artificial intelligence 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.

David Bleackley, Value Chain Optimization Lead at AVEVA said: “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.  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”.

Bleackley added: “This latest update demonstrates AVEVA’s continued leadership in creating innovative solutions that transform the global industrial analytics market.”