ARC Industry Forum Session on Machine Learning and Analytics

Overview

The ARC Industry Forum session on machine learning and analytics for operations and maintenance saw the convergence of experienced experts and panelists who discussed their digital transformation paths and maturity levels. ARC’s Ed O’Brien, Director of Research, provided a brief overview and invited the speakers and panelists onto the virtual stage.

Data and information formed an important part of all the presentations. Ed said that data components include classifications, cleansing, management, and prediction. Understanding the hierarchy of analytics is required, from descriptive capabilities to diagnostics, predictive, and prescriptive actions to be able to forecast what may happen. It is important to look at the adoption of analytics as a journey, from historical information to near real time to predictive information. End users must harness the power of not only data, but also of what is occurring between IoT and digital transformation initiatives.

Speakers: Jane Arnold, Head of Process Control Technology, Covestro and Shawn Collins, Chief Revenue Officer, Flanders

Panelists: Guneet Bedi, Senior Vice President, General Manager AMER Relayr; Jonas Hellgren, CEO, Aperio Systems; and Mike Brooks, Global Director, APM Solutions, AspenTech  

Harnessing the Power of Data

After a brief introduction about her 30 years’ experience in the chemical industry, Jane said that Covestro’s focus is now on data excellence. Covestro, previously part of the Bayer Group, is a leading chemical manufacturer of high-tech materials. Recently, the company announced that it is going circular, which means that it is looking at renewable sources of energy, innovative recycling, alternative raw materials, and joint solutions. According to her, the way ahead is via innovation, R&D, partnerships, and sustainable solutions – and technology is the enabler for all these. Research reveals that between 2019 and 2030 the number of IoT devices will triple, so that means companies must move swiftly and take advantage of the technologies for operational excellence. This requires digital collaboration that connects humans, data, and machines to provide sustainable solutions.

Digitalization is about embracing all the technology and the data and making efficient use of it. Historically, Covestro has used only 1-2 percent of its time series data, but by the time the current rollout is done it will be closer to 25 to 30 percent. Across industries the problems are the same when it comes to data. Covestro is trying to address various aspects, provide a single source of truth, and avoid a “data hurricane.” According to Jane, “the right data needs to be available at the right time for operations to make timely and accurate decisions.” Aperio Systems’ Jonas reiterated her points and said that data is key to success for operations and maintenance. The company provides an agnostic data quality platform for time series data that connects to any asset or data source. The data quality platform is not rules based, is not dependent on manually set thresholds, is scalable and accurate, and can be integrated with other tools.

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Keywords: ARC Industry Forum, Machine Learning and Analytics, Data and Information, Digital Transformation, ARC Advisory Group.