To solve big problems you need to innovative and collaborate, and that’s exactly what Caterpillar Inc. is doing.
The equipment manufacturer has announced it has entered into a technology agreement with Uptake, a Chicago-based data analytics platform for a wide array of industries.
As part of the agreement, Caterpillar will make a minority investment in Uptake to jointly develop an end-to-end platform for “predictive diagnostics” to help customers monitor and optimize their fleets more effectively.
“Customers use our current technology for fleet monitoring and to track fuel efficiency, idle times, location and more,” said Doug Oberhelman, Chairman and CEO of Caterpillar.
The idea behind the partnership is to utilize the massive amounts of data collected from equipment such as bulldozers and hydraulic shovels and turn it into meaningful information that can assist Cat customers, as well as identify potential maintenance issues to minimize downtime.
“Our existing solutions are effective, but it’s time we take it to the next level. This relationship will combine Caterpillar’s world-class product engineering and design expertise with Uptake’s software, application and data analytics expertise. As a result, we’ll be able to transform the quintillion bytes of incoming data we see every day into useful information we feed back to our customers for on-the-spot decisions and planning purposes to further reduce owning and operating costs.”
Since 2014, Uptake has been developing locomotive-0related predictive diagnostics and fleet optimization solutions for Electro-Motive Diesel (EMD), a subsidiary of Caterpillar. The company, which is founded by long-time entrepreneur Brad Keywell,
“We are at a unique time in history—analytics are enabling insights that are changing the way entire industries work. Uptake is at the front of this evolution,” said Keywell.
“Our platform takes massive data provided by sensors, combines it with data science to understand signals and patterns and deploys insights in real time that save money, optimize performance and prevent unplanned downtime. Our partnership with Caterpillar has resulted in a cross-industry platform that is informed by the best data and the best operational insights.”
Uptake’s location in Chicago, which is near Caterpillar’s headquarters in Central Illinois and the company’s largest concentration of U.S. engineers and factories, was also a key factor in the agreement.
“We’re excited about an optimal platform that will not only increase the value of the information our customers and dealers already receive, but also help them maintain a competitive advantage,” Oberhelman added.
“What we’re really talking about is graduating to even smarter, more connected products. We’re working on getting ahead of the curve, because with our knowledge and expertise, there is no one better than Caterpillar to provide the platform and tools necessary to help our customers achieve new levels of equipment availability, productivity and profitability.”