Spreadsheets are dying. Okay, that may be an exaggeration, but they are certainly declining. In their prime, spreadsheets were one of the most powerful data analytics tool around. They could organize data into tables, run formulas, output graphics. But today, with the rise of Industry 4.0 and big data, spreadsheets are quickly becoming outdated tools when it comes to industrial analytics.
Before we go any further, let's define a few terms:
- Descriptive Analytics - using data to describe what has happene
- Real-time Analytics - using data to describe operating conditions right now at this very momen
- Predictive Analytics - using data to predict what will happen
- Prescriptive Analytics - using data to prescribe what you should do for a desired future outcome
In the era of descriptive analytics, spreadsheets reigned supreme. However, industry is evolving to a new analytic model, one that uses sensor data for real-time predictive and prescriptive analytics.
Most industrial companies are still in the early days of this analytic evolution. In fact, only 15% of industrial companies say that these analytics are crucial to their operations today. However, when asked if these same analytics will be crucial in 5 years, that number jumps to 69%. (Where did these numbers come from? Download the free full IoT Analytics report here.
The race is on to find analytics solutions that get data out of spreadsheets and into platforms and tools that can power real-time predictive or prescriptive analytics. And the future of industries from utilities to manufacturing will be, in part, determined by who is the best at turning operational data into operational insight.
If you're among those desperately seeking the next wave of industrial analytics tools (or you just want fewer spreadsheets in your life), check out the Partner and Product Expo at the OSIsoft Users Conference on March 20-23 in San Francisco. OSIsoft and six of our partners will demo industrial analytics tools, platforms, and applications.
Pictured below: Seeq's advanced analytic display.
Industrial Analytics at the OSIsoft UC Partner & Product Expo
PI Coresight™ - Data displays anytime, anywhere, Booth #58
The latest in OSIsoft visualization makes PI System data available in rich displays on tablets, phones, or computers in a convenient web environment. See your operations in real time with trends, tables, customer images, and gauges that you can add to your display by simply dragging and dropping items of interest. Out-of-the-box mobile integration means that field crews can respond to events with comments and pictures from their mobile device.
And in the upcoming 2017 release:
- Auto populate monitoring displays for critical assets: Know what needs your immediate attention with filtering and intuitive multi-state visuals.
- Pinned events: Specify a particular event as your analysis baseline. You may know this as a "golden batch," depending on your industry.
Trendminer N.V - Google for your data, Booth #9
Trendminer makes finding patterns in your data as easy as typing a search query. Their plug and play software puts big data projects and machine learning at your fingertips.
Element Analytics - Data wrangling made easy, Booth #50
Element Analytics shortens time to insight and creates operational predictive models that can be visualized in a variety of applications.
Self-learning algorithms automate model building for faster and more accurate predictions.
FogHorn Systems - Intelligence at the “edge,” Booth #49
FogHorn takes analytics right to the source of your data by processing and analyzing data at the edge of your network.
Seeq - Data as you want to see it, Booth #18
Advanced trending and visualizations with Google-like search that can quickly represent your data by machine state, time period of interest, batch, and more.
Falkonry - At-a-glance pattern recognition, Booth #33
Falkonry applies complex pattern recognition to Asset Framework and puts results as attributes on the same asset template.
MKS - Information by the batch, Booth #5
MKS Data Analytics Solutions and their Multivariate software portfolio (the Umetrics Suite, SIMCA and SIMCA-online) is the standard solution for PAT applications in the pharmaceutical market, transforming time and batch series data to information.
See you on the Expo floor!