The Real Value of Predictive Analytics
Howden shares their approach to predictive analytics with actualized results
In a nutshell, predictive analytics is a no-brainer. Who wouldn’t want to know what is going to happen before it happens? But when it comes to applying these concepts to your own organization, it’s helpful to have a real-world example to demonstrate actualized value.
Howden, a leader in air and gas engineering solutions, worked with PTC to develop a predictive analytics program—producing demonstrable benefits across the value chain. Howden Solutions Development Lead Billy Milligan and PTC Senior Director of AI & Translators Matt Hardman recently sat down to discuss the Howden Data Driven Advantage (DDA) program.
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WHY
"PTC is focusing specifically on outcomes around service optimization and product and service innovation: enabling Howden's service technicians to be more effective when they get a call that their equipment is not running efficiently; and understanding if they can optimize that service and any new business opportunities it opens up for them. We partner with customers around the world on these topics, and I'm really excited to walk through how we partnered with Howden to enable this transformation and bring back how
M.Hardman
SHOULD WE CARE ABOUT PREDICTIVE ANALYTICS?
WHY
B.Milligan
predictive analytics and machine learning are the backbone of a digital transformation story.”
the difference Howden Data Driven Analytics program can bring is to make intelligence on those numbers."
WHAT
WHAT
is the impact of predictive analytics?
What's fascinating is the true holistic nature of Howden’s approach to building intelligence into their system. A lot of folks are very happy with getting a single analytics model into production and saying that they have a smart product, then selling that as an offering in the market. But truly having an intelligent digital twin of your equipment is much more than that.”
“There are a lot of historical data collection and data capture techniques that are ripe to be disrupted by continual data capture and continual data analysis.
M.Hardman
when you're thinking about traditional analytics methods, that is huge.”
“Companies used to pay vibration experts thousands if not tens of thousands of dollars to come out for one day and take a single snapshot of a vibration spectrum on a machine. Now we're doing it every 15 minutes, 24/7. It's like having that expert standing beside the machine all the time, taking samples continuously. You can buy this sort of things for under a thousand dollars now and you'll have continual vibration samples—
B.Milligan
WHAT
WHAT
IS THE FUTURE OF INDUSTRIAL MANUFACTURING?
"Looking to the future, I see that the more intelligence you can build into a service operation, the ability to feed that intelligence throughout the entire engineering lifecycle of the product, and the greater and richer ways analysis and performance can be presented to an end-user is where
we can expect some disruption in the industry.”
M.Hardman
Analysis is where asset manufacturers are going to win or lose the battle.
“Once you start an industrial digitization journey, it never ends. You just continue to evolve and move forward and refine it. You'll continue to refine your models.
If you can carry out first class analysis on your machine and provide real insight, then you're on to win. I literally don't think you can lose as long as you're providing real insight into it.”
B.Milligan
Learn more about Howden’s unique predictive analytics program and the results that an IoT-driven predictive analytics strategy can deliver for your business in our webinar replay.
*Quotes have been edited for clarity and conciseness.
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"As an OEM, we design the equipment, we manufacture it, we assemble it, we test it in the factory and we test it on site. So we are uniquely positioned to tell the customer how that machine is performing. A lot of system integrators can get information from a remote site. There are different ways to get data from an asset to a pane of glass that someone can look at numbers on, but
"PTC is focusing specifically on outcomes around service optimization and product and service innovation: enabling Howden's service technicians to be more effective when they get a call that their equipment is not running efficiently; and understanding if they can optimize that service and any new business opportunities it opens up for them. We partner with customers around the world on these topics, and I'm really excited to walk through how we partnered with Howden to enable this transformation and bring back how