Teradata deploys solutions to fast track slow-moving IoT projects for quick RoI

NEW DELHI: Analytics solutions company, Teradata has unveiled four powerful software-and-service solutions that speed up the transformation of Internet of Things (IoT) data to actionable insight.

Teradata says that its ‘Analytics of Things Accelerators’ (AoTAs) are derived from field engagement s at the world’s largest, most innovative IoT companies in manufacturing, transportation, mining, energy and utilities. The solutions comprise of technology-agnostic intellectual property (IP) and professional services, applied approaches proven to reduce implementation cost and risk, accelerate time to value, and drive business returns far greater than the initial investments.

The company has explained in its press release that Internet of Things is blending the physical and digital worlds even as it transforms industries and the way we live and work. Yet the challenges in generating business value from enormous volumes of IoT sensor data have enterprises looking for guidance on where to start. Teradata now provides direction and differentiation as well as ROI.

Teradata expresses that its AoTAs help organizations determine what sensor data to trust and keep, while choosing types and combinations of analytical techniques to best address specific business questions. The accelerators help organizations move from ‘brute force’ one-off projects to enterprise-class solutions scaling across thousands of complex devices and countless assets that result in continuous positive business impact.

Teradata’s AoTAs consist of:

1) A Condition-Based Maintenance Accelerator, which continuously monitors and analyzes asset data at scale to increase availability, improve safety, and reduce costs;

2) A Manufacturing Performance Optimization Accelerator, which identifies complex production problems across equipment performance and availability for quick corrective action

3) A Sensor Data Qualification Accelerator, which automates recommendations on the optimal frequency of sensor readings based on relevant anomaly patterns.

Additionally, Teradata offers a Visual Anomaly Prospector Accelerator, which mines large amounts of multidimensional time series (MTS) data, and visually helps an end user discover anomaly patterns that frequently precede a key event.

“Based on interviews that I conducted with eight Teradata customers across several industries, IoT applications at those companies are generating impressive business value. As shown in our study, this value comes from the analytics applied to sensor data that is blended with traditional data about customers, products, and the like,” said Dr. Richard Hackathorn, President and Founder of Bolder Technology Inc. “By leveraging the expertise from previous Io T engagements, these new Analytics of Things Accelerators can enable companies to realize value faster and enhance success for their IoT projects.”

“Internet of Things (IoT), across both the enterprise and consumer segment is expected to grow exponentially over the next decade. According to industry sources, 75 percent of businesses in India in the utilities, telecom, transportation and oil/gas industry are tapping or have plans to implement Internet of Things. These are likely to be in segments as diverse as security and surveillance, supply chain management, inventory and warehouse management and customer order monitoring among others. We therefore foresee India adding significant value to the overall IoT market in the near future and Teradata’s ‘Analytics of Things Accelerators’ can enable companies to incur insights faster and more efficiently from their IoT deployments,” said Sunil Jose, Managing Director, Teradata India.

The study revealed highest levels of deployment and planned deployment among businesses in the utilities and telecom, chemicals and oil/gas, as well as transportation. Common deployments of IoT involved security and surveillance, supply chain management, inventory and warehouse management, and customer order monitoring.

Forecasts project 21 billion connected "things" in the digital universe by 2020. With data volumes generated by the IoT already dwarfing data waves from social media, information leaders must begin now to identify the requirements necessary to support adoption and implementation of IoT capabilities. Along with establishing requirements, they must also develop strategies, processes and execution plans to ensure that data is optimized to deliver compelling ROI.

“Teradata AoTAs are already addressing and resolving $100 million-dollar problems for premier producers of vehicles, equipment, oil and gas systems, and consumer goods,” said Oliver Ratzesberger, Executive Vice President and Chief Product Officer, Teradata. “These challenges represent billion-dollar budgets for each company, to be clear on the scale of business value addressed by AoTA. For example, our AoTAs have increased Overall Equipment Effectiveness as much as 85 percent, while also improving predictability and asset availability. We are seeing a lot of excitement around our Accelerators, because the return on investment is transformational in scope and compelling in business impact.”

Ratzesberger said many companies are unaware that Teradata consulting services have helped customers implement sensor data analysis since the late 1990s, with extensive experience in the manufacturing and utilities verticals. “Teradata consulting professionals are veterans at solving the biggest data problems in virtually every major industry, and experts in the use of IoT data, regardless of the customer’s analytic ecosystem,” he said.