Accompanying report identifies DataRPM as "the pioneer of predictive maintenance for Industrial Internet of Things (IIoT) applications"
SANTA CLARA, California, July 26, 2017 /PRNewswire/ -- Progress (NASDAQ: PRGS) today announced that Frost & Sullivan has recognized DataRPM, a Progress company, with the 2017 North American Frost & Sullivan Award for Technology Leadership in automotive manufacturing. The DataRPM approach enables automotive manufacturers to replace machines and parts before they fail with actionable insights and timely predictions that DataRPM can deliver from their voluminous sensor data. The results are new levels of efficiency and dramatic cost savings.
DataRPM's patented Meta-Learning framework runs multiple automated machine learning experiments on datasets, extracts data from every experiment, trains an ensemble of models, applies models to predict the best algorithms and finally builds machine-generated and human verified machine learning models for predictive maintenance. DataRPM's enterprise-grade Meta-Learning capabilities for self-learning and continuous optimization, accuracy and speed in predicting failures are features unique in the market, and critical to success as manufacturers embrace the Industrial Internet of Things (IIoT). Following adoption of the DataRPM platform, customers have reported achieving average annual cost savings of more than 30 percent, with three times higher accuracy than manual inspections and traditional approaches to data science and machine learning.
"Frost & Sullivan is pleased to recognize the leading-edge technology and singular focus on customer value that DataRPM and now Progress offer to their customers," said Isaac Abraham, Team Lead for Automotive Business Strategy at Frost & Sullivan. "The Progress DataRPM technology is unique in the market, and exactly what today's industrial businesses need. The business value delivered by the solution, in terms of efficiencies and cost savings, is truly game-changing for organizations in this space."
DataRPM's automated machine learning capabilities deliver actionable insights, predictions and maintenance recommendations for equipment, so that it can be repaired before it fails. The on-premise or cloud-based software monitors total uptime and other vital parameters to accurately forecast the next likelihood of failure for every piece of equipment throughout its lifecycle. The solution minimizes unplanned downtime and delivers higher yield at lower cost.
"The patented natural language query interface within the DataRPM platform offers exceptional ease of use as it analyzes the data model and presents an answer," added Abraham. "The solution can be customized for inputs and even deliver results over augmented reality headsets to aid technicians in repairing the equipment."
"As data continues to explode, driven by machine-generated and human-generated data, and devices and digital touchpoints proliferate rapidly, organizations must leverage cognitive-first applications for business benefit to compete and win," said Sundeep Sanghavi, DataRPM Co-Founder and GM, DataRPM business, Progress. "We are honored to be recognized for our leading cognitive predictive maintenance platform, which enables customers to operationalize insights and reap a massive competitive advantage for higher machine uptime and efficiency."
Each year, Frost & Sullivan presents the Technology Leadership Award to the company that has demonstrated uniqueness in developing and leveraging new technologies, which deliver significant customer value.
Upcoming Webinar on 'Cognitive Predictive Maintenance'
DataRPM will host a webinar titled, "Future-Proofing Asset Failures Using Cognitive Predictive Maintenance" on August 2, 9.30-10.30 am PDT, featuring Vishwas Shankar, Research Manager for Mobility, Frost & Sullivan and Sundeep Sanghavi, DataRPM Co-Founder and GM, DataRPM business, Progress, to discuss how manufacturers and suppliers can experience the power of Cognitive Predictive Maintenance (CPdM) to avoid unplanned downtimes, unscheduled maintenance and drive greater efficiencies and cost savings. To attend the webinar, register here.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Progress (NASDAQ: PRGS) offers the leading platform for developing and deploying mission-critical business applications. Progress empowers enterprises and ISVs to build and deliver cognitive-first applications, that harness big data to derive business insights and competitive advantage. Progress offers leading technologies for easily building powerful user interfaces across any type of device, a reliable, scalable and secure backend platform to deploy modern applications, leading data connectivity to all sources, and award-winning predictive analytics that brings the power of machine learning to any organization. Over 1,700 independent software vendors, 80,000 enterprise customers, and 2 million developers rely on Progress to power their applications. Learn about Progress at www.progress.com or +1-800-477-6473.
SOURCE Frost & Sullivan