Access to up-to-date information helps miners lower costs
In today’s mining industry, when companies have a laser focus on lowering their total costs of machine ownership, having the right data available can be the difference between a productive day and a costly period of downtime. Mining companies are tracking every bit of information possible, from where a machine is and what it’s doing to how its individual components are performing.
Accurate, up-to-date information helps equipment managers and operators maximize uptime, efficiency and overall machine health. And new technologies are being developed all the time that allow users to better collect and analyze data, further reducing costs and increasing efficiency.
Recognizing the importance of information to the many industries it serves, Caterpillar strives to be at the forefront of these innovations. For mining, the Cat® MineStar suite of technologies gathers and analyzes data to track machine health, assign equipment and even automate production. The company also provides Cat dealers with detailed data-collection and analysis tools to provide comprehensive real-time reports on machine health.
Caterpillar recently reinforced its commitment to providing customers with the best possible technologies for data and analysis by forming a new division, Analytics & Innovation (AI). Built around a culture of innovation, this division will aim to form a broad, connected analytics network across all the company’s product lines.
A key part of AI’s strategy is partnering with third-party providers to stay abreast of the latest developments in data-gathering and analytics. The first of these partners is Chicago-based Uptake, the creator of a dynamic analytics and insight platform that serves a wide array of industries.
In February 2015, Caterpillar further cemented its commitment to Big Data by opening its first Data Innovation Lab in partnership with the University of Illinois in Champaign, IL. Staffed with world-class talent from fields like statistics, engineering, computer science and operations research, this lab provides faster, more responsive analysis and innovation for Caterpillar and its customers.
According to Caterpillar Chairman and CEO Doug Oberhelman, this new approach will help the company lead the way in providing new and successful solutions to both new and existing customers.
“Through this agreement, we’ll build a platform to bring the next generation of our technology services and products to market sooner, and will act as a springboard for years of development after that,” said Oberhelman. “The end result will be more efficient operations and increased fleet availability for our customers. And the more our customers’ machines and engines stay running, the more money they make."