In-memory computing, combined with the power of today’s multi-core processors,is creating breakthroughs in the way organizations view and manage their assets, making it possible to interactively query, filter and aggregate—on demand—the data needed for forecasting, simulations, failure modeling, planning, conducting what-if scenarios and other processes.
Clockwork, a global leader of predictive analytics solutions for enterprise asset management (EAM), announced it has signed an OEM agreement with SAP, through which its Clockwork LCM Cloud™ technology – Insight LCM™ and Engage LCM™ – will be enhanced with the in memory computing capabilities of the SAP HANA® platform. Becoming an SAP OEM partner is a key milestone in Clockwork’s strategy to elevate its solution to be an operational must-have for asset managers.Most of the data required for effective asset management is stored in silos and is distributed through a huge number of applications , which makes it difficult, and time-consuming to create a single unified view of the data that would help make decisions. Also, since analytical reports typically run on aggregated data from a data warehouse rather than directly on operational data, ad-hoc reporting based on current information is problematic. This incomplete view means that decisions are often based on insufficient information.
By running Clockwork’s Insight LCM and Engage LCM solutions on SAP HANA, asset data can be processed even faster and leveraged enterprise-wide to proactively improve availability while helping to control costs and reduce inventory — with a clear vision of future operations, costs and risk.
Using big data for enterprise asset management, Clockwork has rapidly leveraged SAP HANA to enhance its real-time decision support. The Clockwork platform generates volumes of ‘future bigger data’ by sourcing, collecting, cleaning, correcting, completing and categorizing critical asset performance data used in predictive analytics to optimize parts ordering and maintenance scheduling, while reporting on asset performance, uptime, utilization and ROI.
Read the complete partnership announcement here