SAN LEANDRO, Calif., Sept. 25, 2018 /PRNewswire-PRWeb/ -- OSIsoft LLC, a leader in operational intelligence, is proud to announce that Caterpillar Inc. (NYSE:CAT) has integrated OSIsoft's Connected Services into its Cat Asset Intelligence platform, a suite of subscription-based AI services for analyzing fuel consumption, equipment health and other critical operations in real time.
Cat Asset Intelligence services can be used to optimize the performance of diesel generators and other equipment from multiple brands, not just Cat equipment. Caterpillar also integrates OSIsoft's Connected Services into Cat Asset Intelligence services for many land-based equipment lines as well. The announcement was made at PI World, taking place in Barcelona, Spain this week.
Shipping companies are entering an era where fine-tuning operations will be absolutely critical for their success and sustainability. Fuel alone can be 50 percent or more of the total lifetime cost of a vessel: reducing it by even a few percentage points can mean millions in savings a year. New safety and environmental regulations, such as the International Marine Organization's requirement that sulfur content of fuels be lowered to 0.5 percent mass/mass from 3.5 percent by 2020, will further require shipping and port operations to improve their situational awareness.
"Our goal is to give people across the shipping industry highest uptime at lowest total ownership costs by providing better insight into their operations so they can make better decisions," said Ken Krooner, General Manager of Caterpillar Marine Asset Intelligence.
Some of the early success stories of combining Cat Asset Intelligence and OSIsoft technology for marine customers include:
Connected Services: PI on the Inside
Connected Services from OSIsoft are a selected set of cloud-based services that effectively enable hardware manufacturers, software developers and service providers to integrate PI System technology into their offerings. Used by over 65 percent of the industrial companies in the Fortune 500, OSIsoft's PI System transforms the vast data streams from sensors and other devices into rich, real-time insights that can be used directly by individuals to save money or improve efficiency or delivered to other applications to improve the speed and accuracy of digital services. The PI System can be found inside wind farms, national labs, rail networks, data centers, over 1,000 leading utilities and over 90 percent of the world's largest oil and gas companies.
Worldwide, over 2 billion sensor-based data streams are managed by the PI System.
"The one thing predictions about the Internet of Things have in common is that they all underestimate the scope and scale of changes we will experience. Every industrial company and every equipment manufacturer will fundamentally transform the way they do business in over the next ten years," said Dr. J. Patrick Kennedy, CEO and founder, OSIsoft. "We're extremely proud to be working with Caterpillar to develop the foundation for a new chapter in the history of shipping."
OSIsoft is dedicated to helping people transform their world through data. For more, please visit http://www.osisoft.com
About Caterpillar Marine Asset Intelligence
Caterpillar Marine Asset Intelligence provides digital services and solutions to customers using data analytics and expert advisory services to predict and avoid equipment failures, reduce fuel and energy consumption, and optimize maintenance. While this offering is relatively new as a part of Caterpillar, the organization has been delivering value to our customers for 15 years and is based on over 50 million hours of machine monitoring experience. This innovative technology and service offering complements the Caterpillar Marine products and technologies that are focused on providing the highest level of uptime and the lowest lifecycle cost. To learn more visit http://www.cat.com/assetintel.
SOURCE OSIsoft, LLC