Even more than the consumer-focused Internet of Things (IoT) - associated with devices such as coffee machines with their own IP - the Industrial Internet of Things (IIoT) is likely to be the trailblazing force of the future. This explains its very high profile at HANNOVER MESSE 2018. The path toward this digital revolution is beset with enormous challenges, but the rewards that industrial companies stand to reap will undoubtedly be worth the effort - starting with system efficiency and reaching right through to profitability and competitiveness. Aspen Technology, a leading manufacturer in software for optimizing production processes, particularly in the energy and chemicals industries, is showcasing a comprehensive package of asset performance management solutions at HANNOVER MESSE 2018. Its focus is set firmly on new technologies such as machine learning and predictive and prescriptive analytics.
The company's new software package is equipped with three state-of-the-art modules. The Aspen Mtell module uses machine learning and failure agents to independently identify patterns within operating data and predict faults, outages and downtimes precisely and well ahead of time. The second module, Aspen Asset Analytics, analyzes the root cause of interruptions to processes, predicts future incidents and offers prescriptive guidance for avoiding trouble. The third, Aspen Fidelis Reliability, provides an end-to-end risk analysis for the entire system. This reliability management solution uses models and simulations and considers workflows to identify risks early on that potentially threaten system availability and usage. "System operators are very aware that conventional approaches to maintenance no longer suffice to avoid unexpected outages. The digital revolution is turning new technologies such as machine learning and predictive maintenance into the key determinants of profitability and competitiveness," explains Norbert Meierhöfer, business consulting director at Aspen Technology. "So we are delighted at the opportunity to unveil our APM solutions at HANNOVER MESSE. We are keen to show everyone how they can optimize their systems and maximize profitability throughout the full lifespan."