Predictive Analytics and Governance

by | Feb 5, 2019 | Event

Jim Cahill

Chief Blogger, Editor

One year ago, Emerson and AspenTech announced an alliance, “to help customers tackle complex problems, optimize operations, and achieve Top Quartile performance.” At the 2019 ARC Industry Forum in Orlando I attended an AspenTech session, Digital Acceleration – Achieving New Levels of Operational Excellence.

AspenTech’s Robert Golightly opened highlighting the role of technology in improving asset performance and overall operational performance through predictive analytics. Clear strategies and roadmaps are key for undertaking digital transformation journeys. While some start with pilot implementations, others undertake a more comprehensive approach.

On the panel ARC Advisory Group’s Peter Reynolds noted that the nature of the focus on data has changed from its use in control and safety to its use in improving business performance in areas such as reliability, efficiency and personnel safety.

Also on the panel, ARC’s Paula Hollywood noted that the data value from assets is becoming as valuable, if not more, that the value of the asset itself in the production process.

Peter Reynolds, Paula Hollywood, Robert Golightly

The value of digitalization is not in the technology itself but in the cross-functional collaboration it enables. For example, in order fulfillment processes, increasing collaboration amongst sales, accounting, and manufacturing & production can improve meeting customer expectations and the efforts required to accomplish this.

Robert shared some best practices in undertaking digital transformation and the governance of the information and work processes. It’s important to choose early products for their ability to communicate and influence the culture. Avoid science projects and instead have serious business purposes behind the projects. Throw a lot of seeds, but make sure they are solving key problems or reaching key goals.

Build the economic case for the enterprise plan including sequencing, staffing and partnering. And finally, talk internally now about how a digital transformation will impact the C-Suite at your organization.

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The opinions expressed here are the personal opinions of the authors. Content published here is not read or approved by Emerson before it is posted and does not necessarily represent the views and opinions of Emerson.