PTC to Acquire Big Data Machine Learning and Predictive Analytics Leader ColdLight
finance.yahoo.com
ColdLight’s Neuron to serve as PTC’s platform for automated predictive analytics
The acquisition of ColdLight’s Neuron automated predictive analytics platform will enrich PTC’s technology portfolio and extend PTC’s position as a leader in the Internet of Things (IoT) market.
ColdLight will serve as PTC’s core data analytics platform to deliver new value to markets both companies serve today – manufacturing, healthcare, media and retail – as well drive growth across new markets. When combined with PTC’s ThingWorx® IoT platform, ColdLight’s Neuron will automate the analysis of data from things to address a range of important challenges. These challenges include detecting failure patterns from data, modeling correlations, predicting failures, prescribing remedies and prioritizing recommendations against cost constraints. ColdLight’s Neuron platform addresses these challenges by using artificial intelligence and machine learning technology to automatically and continuously learn from data, discover patterns, build validated predictive models and send information to virtually any type of application or technology.
The ability to predict outcomes has incredible value, especially in the context of ensuring product performance and preventing product failure and downtime. PTC believes it will be particularly useful to improving after-sales service, which PTC believes is a major industrial application that drives business value in the IoT. Companies today have an overwhelming need to gain insights from massive amounts of data. To meet that demand, companies are competing for a scarce new resource – data scientists. ColdLight’s Neuron platform automates deep data discovery and predictive modeling, speeding time to market and reducing the dependency on expert data scientists.
“Our business strategy has been centered on helping companies transform how they create, connect, operate and service products,” said Jim Heppelmann, President and CEO, PTC. “Sensor data by itself creates value, but that value is magnified dramatically when companies use predictive analytics to process that data into many forms of actionable knowledge that can transform the way they do business. With this acquisition, PTC will possess an innovative advanced analytics platform that will allow us to accelerate how we help our customers capitalize on the explosive growth potential of this rich new resource.”
The Internet of Things unleashes a massive new source of real-time information – smart, connected products. These “things” have a lot of important insights to share, but they’re speaking in a code that typically only data scientists understand. Companies need a new generation of big data analytics tools to make sense of, and create value from, all this new data. |
