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:
“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.
Element provides software for industrial organizations to more efficiently transform their diverse sources of industrial data, empowering their teams to find new insights that improve operational performance, resulting in hundreds of millions of dollars of value, and cleaner, safer, healthier operations. Element AssetHub automates the data preparation burdens associated with industrial data, freeing up time and resources to focus on analytical applications that improve business
performance. Element Asset Framework Accelerator is a purpose-built offering for OSIsoft PI System customers who want to build enterprise-grade PI AFs fast for analysis of their enterprise PI data. 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.