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To help customers around the world better understand the health of their equipment and optimize machine availability, Caterpillar Inc announced it has entered into a technology and predictive analytics agreement with Uptake, provider of a dynamic analytics and insight platform for a wide array of industries, based in Chicago, Illinois. Caterpillar has made a minority investment in Uptake and will jointly develop an end-to-end platform for predictive diagnostics to help Caterpillar customers monitor and optimize their fleets more effectively. The new technology will be available for both Cat products and non-Cat branded products.
Since 2014, Uptake has been developing locomotive-related predictive diagnostics and fleet optimization solutions for Electro-Motive Diesel (EMD), a subsidiary of Caterpillar. The early successes of the locomotive project led Caterpillar to expand its relationship with Uptake into other industries Caterpillar serves. As Uptake's exclusive partner in various industries, Caterpillar can leverage its data and operational insights with Uptake's technology and data science platform to provide unparalleled solutions for customers in each of those industries.
Caterpillar selected Uptake as its partner based on the capabilities the company witnessed following the agreement with EMD. Uptake's location in Chicago, which is near Caterpillar's headquarters in Central Illinois and the company's largest concentration of U.S. engineers and factories, was also a key factor.
Keywords: Machine Availability, Predictive Analytics, Dynamic Analytics, Predictive Diagnostics, Fleet Optimization, ARC Advisory Group.