Falkonry, enabler of predictive operations for Global 2000 companies, announced a new version of its flagship operational machine learning system. In field trials, Falkonry LRS 2.0 has provided better performance, visualization and scale, enabling customers to realize rapid improvements in the uptime, quality, safety and yield of their industrial operations.
"Users expect a responsive, scalable, consumer-grade experience, like online maps, when reviewing operational data," said Dr. Nikunj Mehta,founder and CEO of Falkonry. "With Falkonry LRS 2.0, we provide one place for users to store, review and analyze all their operational data, where it can be used immediately. This will allow customers to quickly gain insights and solve real operational problems that can save millions of dollars annually."
According to a McKinsey & Company report, manufacturing digitization will boost industrial profit margins by 3-5 points — but only if the technologies can work at scale. Over the last six months, Falkonry customers have successfully analyzed more than 4 trillion data points. In just the last three months, they have turned 100 billion points of raw data into 300 million actionable condition assessments. Customers are also addressing more use cases then ever before. A major oil & gas company has built more than 150 predictive models in just the last two months, which is more than double the number they built six months ago. A large steel manufacturer has built over 400 models in that time-frame.
As companies digitize their operations, manufacturing and process engineers need to review increasingly vast amounts of operational data that is spread across many sources. The new Falkonry LRS product speeds up operational data review and machine learning results for customers and delivers significant benefits in three key areas.
Performance: With a 100X improvement in inference speed, the product
- Allows more data to be processed with fewer devices in edge deployments scenarios
- Allows vast amounts of historical data to be enriched
Visualization: By reviewing and managing all operational data in one place, users can
See trends instantly over larger amounts of data
See model results and confidence levels alongside the explanation of how individual signals impact those results
Enterprise Scaling: Simplifies large predictive operation applications across the enterprise by
- Securely managing user access in large installations with support for Enterprise Single Sign-on
- Improving support for common data integration scenarios
“From its early days, Falkonry LRS has been the best user interface to design predictive operations,” said Jolene Baker, senior manufacturing intelligence specialist at LSI, Logical Systems. "The new design will make it an even more valuable tool in the hands of practitioners who are digitally transforming their operations."