New product launches give new edge to edge analytics
20 Nov 2019
New products having innovative features and enhanced capabilities will bring new vigor and professionals can utilize the insights to take necessary decisions.
Launching new products with better capabilities and features than those present in the market is prime strategies for market players. With innovation as the forefront criteria, they have been carrying out research and development activities and bringing new products. Emerson released its new edge analytics device known as AMS Asset Monitor. The device is capable of digitizing essential asset data for offering actionable insights. The striking feature that differentiates it from the rest is it carries out calculations onboard instead of sending the data to the cloud for processing. After gathering data continuously, it utilizes embedded logic for identification and diagnosis of reliability issues. Moreover, individual issues regarding misalignment, imbalance, lubrication, and fouling are determined and resolved. At many plants, essential assets such as pumps, heat exchangers, and fans are assessed in every 30 to 60 days. Citing the purpose of developing AMS Asset Monitor, the company stated that if there is a long gap, the problem goes undetected and may lead to unexpected failure that causes loss of production, efficiency, and quality. This new product would combine embedded logic-based analytics with health monitoring for facilitating organization to monitor and carry out maintenance of essential assets.
Riding on the trend of new product launches, FogHorn, a leading developer of edge computing software for industrial and commercial IoT solutions, outlined that it launched features for Lightning™ Edge AI platform. Moreover, it launched enhancements and tools for assisting operational technology (OT) professionals. Better visualization dashboard and drag-and-drop analytic programming capabilities assist OT professionals to gain insights more quickly with an access to real-time data. This platform offers intelligence to the edge from the point of data origination and offers analysis to enhance operational outcomes. FogHorn Lightning is able to determine the detect drifts in accuracies of models and enable cloud-based retraining with Microsoft Azure IoT and Google Cloud Platform (GCP). Moreover, it would publish new models again to the edge in iterative fashion until the desired accuracy is attained. Sastry Malladi, CTO at FogHorn, outlined that this product has been designed to act as a bridge between subject matter professionals and deriving insights from real-time data. He added that VEL Studio enables OT teams to gain insights and data science capabilities without need of coding.
These new products are expected to enhance capabilities for professionals using them and improve efficiency of the systems. Moreover, the insights offered by these products become essential to enable uninterrupted operation and sustainability. The operational outcomes will be better once the faults and drifts are detected with implementation. The demand for edge analytics is on the rise from various organizations globally. According to the report published by Allied Market Research, the global edge analytics market is expected to garner $10.02 billion by 2023. The rise of internet of things (IoT) will see more innovations in this field and more features will be added to new products as per changing needs.
Chief editor of review team at FinancesOnline
Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.