Predikto: Making Waves in IoT!

The Internet of Things is generally defined as “Smart” + “Connected” + “Edge Devices” (Planes, Trains, Automobiles, Industrial & Farming Equipment, Medical Equipment, and Consumer Electronics)

Predikto focuses on putting the “smart” into managing smart connected devices, equipment and complex capital assets in order to forecast asset behavior/performance.

Industrial asset OEMs, operators and maintenance organizations are challenged by equipment performance degradation and failure as they impact uptime and efficiency. While reliability and condition-based solutions have been around for many years, predictive analytics (machine learning) is providing significant new capabilities to improve performance and profitability.

Approximately 2,000 hardware, software and business leaders attended the second annual O’Reilly Solid 2.0 IoT conference in San Francisco. Attendees were given the opportunity to vote on the startup they believed was making the most innovative impact in the field of industrial or consumer IoT. Of the 30 or so startups at the conference, Predikto was voted best startup by attendees for its telematics / IoT based predictive analytics, predictive maintenance and asset health management solutions.

https://www.youtube.com/watch?v=C0-cYgsT8yI&list=PL055Epbe6d5ZVlSYx7-1k72bm075HkVhq&index=21

This was great exposure for us at Predikto, and now we are up for 2 awards at the upcoming Solutions 2.0 Conference in early August.  We are going head to head against some big players in the industry in the categories of Asset Condition Management and Asset Management.  Mario Montag, Predikto CEO, will be presenting on the topic of Predictive Analytics in Asset Management.  This is another indication of the high demand for IoT products and solutions, the acceleration of Predikto within the Industrial Internet market and the large innovative technology community in Atlanta.

Mario Montag was quoted after the Solid Conference: “It is great to see validation from the market and conferences with regards to our Solution based predictive analytics technology and approach.  We are not a tool to enable customers to do more. We deliver results and bring to light full transparency on the ROI and impact we are having to solve real problems with asset reliability.”

We have also been getting some great traction with customers and partners.  We recently announced a partnership with New York Air Brake, subsidiary of the Knorr-Bremse Group in Germany, to incorporate Predikto’s auto-dynamic predictive analytics platform, MAX, into the company’s LEADER advanced train control technology solutions via its internet of things (IoT) initiative. See the full story here.

Needless to say we are all very are all very excited about the awards and recognition Predikto is receiving and it is legitimizing the need for a real solution in predictive analytics for the IIoT.

A Software Industry Veteran’s Take on Predictive Analytics

I’m about 4 months into the job here at Predikto as VP, Sales.  The predictive analytics market is an exciting new market with predictably (pun intended) its share of hype.  Nevertheless, this is key niche of the Industrial Internet of Things sector. I’d like to share some observations on what I’ve learned thus far.

We focus on asset-intensive industries, helping organizations leverage the terabytes of data they have accumulated to anticipate the likelihood of an adverse event, whether that is a battery on a transit bus about to fail, or indications that a fuel injector on a locomotive diesel engine, while still operating, is doing so at a less than desired level of performance.   We predict these events in a time horizon that allows the customer to take action to rectify the issue before it creates a problem, in a way that minimizes disruptions to operations.  Our technology is cutting edge Open Source, leveraging Spark, Python and Elastic Search hosted by AWS.

The use cases we’re being asked to solve are fascinating and diverse.   Some companies are contacting us as part of an initiative to transform their business model from selling capital assets to selling a service, an approach popularized by Rolls Royce with their jet engines, the “power by the hour” approach and similar to the software industry’s transition from selling perpetual licenses with maintenance contracts, to selling Software as a Service (SaaS).  In order to sell capital assets like construction equipment and industrial printing equipment this way, our customers will offer service level agreements, with Predikto in place to allow them to proactively deal with issues likely to degrade their service commitment.  So while our tactical focus has been on helping clients maximize product “uptime”, the strategic driver is helping them transition to a new way of generating revenue while getting closer to the customers.  It’s been gratifying to realize the impactful role our offering is playing in facilitating these transitions.

Other organizations are complex, asset-intensive businesses, where an equipment failure can have a cascading effect on revenues and customer service.  For example in the work we are doing with railroads we’ve learned there are a multitude of areas where sub-optimal performance of equipment or outright failure, can have significant impact.  The North American railroad network in 2014 set new records for revenue-ton-miles, a key efficiency metric; this was accomplished over a rail network which is highly congested.   In this environment, a delay has huge ripple effects.  Any number of factors can lead to a delay, ranging from a rockslide blocking a section of track to a locomotive breaking down, to a wheel failure on a rail car, which can cause a derailment.   On top of this, in order to operate safely and comply with government regulations, railroads have invested heavily in signaling and equipment monitoring assets, as well as machinery to maintain the track and roadbeds, which must work reliably.  Our abilities to implement in weeks and generate actionable predictions regarding locomotive and rail car health, as well as monitoring other equipment and even the condition of the rails, are making a major difference in helping to facilitate efficient, safe rail operations.

 

Having a blast…more to come.

Kevin Baesler, VP of Sales

Moving Ahead for Progress in the 21st Century Act – MAP21

MAP21 - Putting Performance into Action
Image courtesy of https://www.fhwa.dot.gov

The Moving Ahead for Progress in the 21st Century Act, also known as MAP-21, is a law that includes provisions intended to improve security reducing crashes, injuries and fatalities involving large trucks and buses.

Many of the provisions in MAP-21 track the Agency’s strategic framework to improve commercial motor vehicle safety by supporting its three core principles:

  1. Raise the bar to enter the industry and operate on the roads;
  2. Hold motor carrier and drivers to the highest safety standards to continue operations; and
  3. Remove the highest risk drivers, vehicles, and carriers from the roads and prevent them from operating.

Countries are implementing legislature and safety mandates that are raising the bar for transportation companies to improve their safety records and asset management processes. Predikto is working with some of the largest transportation companies in North America to facilitate the deployment of Predictive Analytics solutions to predict asset failures and prevent safety hazards. Predictive Analytics solutions can take into account historical maintenance records, prior asset failures, and current operating conditions of the equipment to identify “High Risk” situations and remove the highest risk drivers, vehicles, assets, and carriers from roads and railroad tracks.

In future posts we will be talking about specific sections of interest for predictive analytics, such as Transit Asset Management (Sec. 5326), Public Transportation Safety Program (Sec. 5329), and State of Good Repairs (sec. 5337).

Railroad Risk Reduction Program – Making Railroads Safer

Predikto is embarking in a new initiative to help Class I railroad companies to achieve compliance with the Risk Reduction Program (RRP) mandated by the Rail Safety Improvement Act.

The primary objective of the Risk Reduction Program is ensuring the safety of the nation’s railroads by evaluating safety risks and managing those risks in order to reduce the numbers and rates of accidents, incidents, injuries and fatalities. The requirement is not a one time exercise but is ongoing to promote safety improvement.  It also requires a proactive, analytical  approach to identify potential risks and failures and it requires railroads to implement actions to mitigate the risks before they can occur.  A Risk Reduction Program by statute must include a Fatigue Management Plan.

The Federal Railroad Administration (FRA) will reconvene in April of 2014 with RSAC with final draft of CFR 271 Notice of Proposed Rule Making.

traintracksmall2

Interesting Facts About the Railroad Industry

There are 7 Class I railroads in the US: BNSF Railway, CSX Transportation, Grand Trunk Corporation, Kansas City Southern Railway, Norfolk Southern Combined Railroad Subsidiaries, Soo Line Corporation, and Union Pacific Railroad.

Unlike trucks, barges, and airlines in the U.S., freight railroads do not strain the public purse. Privately owned railroads have spent $525 billion since 1980 building, maintaining and growing their 140,000-mile rail network. That amount equals 40 cents of every revenue dollar. Even during the economic downturn, America’s freight railroads spent approximately $20 billion annually to build and maintain the most efficient rail system in the world. In 2013, that investment is expected to increase to an estimated $24.5 billion, helping to keep America competitive.

Average inflation-adjusted rail rates (as measured by revenue per ton-mile) are down 44 percent through 2012. That means the average rail shipper can move nearly twice as much freight for the same price it paid 30 years ago — saving consumers billions of dollars in shipping costs each year.

Railroads are much safer. From 1980-2012, the train accident rate was reduced by 80 percent and the employee injury and illness rate fell by 85 percent. 2012 was the safest year ever for railroads, breaking the safety records set in 2011.

Railroads are stronger financially. Return on investment, which had been falling for decades, rose to 4.4 percent in the 1980s, 7.0 percent in the 1990s, and 8.5 percent from 2000 to 2011. That’s important, because railroad earnings today lead to rail investments in new locomotives, tracks, bridges, and more so taxpayers don’t have to.

Source: https://www.aar.org/Pages/Home.aspx