Element Expands AssetHub Features to Help OSIsoft PI System Users Manage PI Asset Frameworks

SAN FRANCISCO - March 19, 2020 – OSIsoft PI System users now have a better way to use their PI data with PI Asset Frameworks for fleet-wide asset and process monitoring, trouble shooting and failure analysis from expanded enterprise features in Element AssetHub™. AssetHub, a data hub connecting PI System data with hundreds of other sources of enterprise asset data, builds PI AF’s fast, supports data governance and evergreening, and ensures trust in analytical applications consuming the data.

Unplanned downtime plagues companies who, on average, lose four hours and $2 million per incident, annually worth hundreds of billions in lost revenue worldwide. Yet, rolling-out sustainable analytical applications to address unplanned downtime, and other use cases is almost impossible owing to: Siloed data that must be collected, transformed, governed and maintained; quality issues like tag naming errors; data mismatches across the asset fleet; and sensor failure errors.

“Having accurate and easy to understand data is the key to success for improving operations and maintenance in the chemical industry” said Jane Arnold, Executive Vice President and Head of Process Control Technology at Covestro. “We’re pleased to have Element and AssetHub as a part of our ecosystem as we work to utilize the PI System and Asset Frameworks to improve operations and increase OEE.”

AssetHub enables industrial companies to overcome these challenges, and the Spring 2020 release includes new enterprise-class features supporting even more robust PI Asset Framework deployments for OSIsoft customers:

  • Asset-Connect. AssetHub’s integration platform connects to systems of record through API’s, exposing metadata to AssetHub. Asset-Connect includes connectors to hundreds of enterprise applications and systems used by industrial organizations including the PI System, IP21, Infor, Oracle, Meridium, ServiceMax, ESRI, Autodesk, Microsoft Dynamics, Splunk, Teradata, and many other systems. Asset-Connect can connect to any system that has an API or standards-based connectivity. Building integrations takes hours, not months and years.
  • Asset-Sync. AssetHub’s evergreening workflow keeps source systems in sync aligning the digital representation of physical equipment across systems like SAP-PM and Hexagon PPM. Asset-Sync makes continuous updates to Asset-Graph, the data store in AssetHub containing all information about systems, their metadata, and how they relate to each other, making it easy to build asset data models like PI AF. PI Asset Framework users benefit from Asset-Sync as new tags coming online are automatically mapped and stored in Asset-Graph, and any changes are automatically delivered to the PI Asset Framework that’s consuming PI data. Asset-Sync dramatically reduces the cost of maintaining PI AF’s, and increases trust, therefore adoption, of analytics applications by keeping systems aligned across the enterprise.

“We’re excited to get the latest AssetHub release into our customers hands” said Element CEO Andy Bane. “Deploying far richer Asset Framework models that integrate dozens of sources of data together with their PI data allows them to achieve greater analytical scale than ever before, and to tackle use cases like unplanned downtime across every plant, and every piece of critical equipment in their fleets. This has the potential to unlock tens of millions, even hundreds of millions of dollars in profit for our customers.”

To learn more, OSIsoft PI System customers are invited to Element’s Virtual PI World Booth which substitutes for the recently canceled PI World 2020 conference.


About Element

Element enables industrial organizations to find insights that improve operational performance, resulting in hundreds of millions of dollars of value, and cleaner, safer, healthier operations. Element AssetHub is an enterprise software solution automating and transforming asset data to bring it into the modern analytical world at scale. Element Asset Framework Accelerator is a purpose-built offering for OSIsoft PI System customers who want to build enterprise-grade PI AFs in as little as 30 days. Element’s industrial customers represent over $500 billion in revenue, $300 billion in fixed assets and 350,000 employees. For more information please visit: www.elementanalyics.com.

Contact:
AJ Qattan
aj@elementanalytics.com