Proving out new methodology estimated to reduce facilities’ reliability spending by 10% to 30%
PASADENA, TEXAS (July 20, 2021) – Pinnacle, the world’s largest reliability analytics company, and Cognite, a global leader in industrial software innovation, have strategically partnered to accelerate and scale the deployment of the world’s first live reliability digital twin.
The collaboration builds on the strengths of both companies to deliver data-driven solutions at scale, combining Cognite’s flagship product, Cognite Data Fusion (CDF), with Pinnacle’s reliability engineering expertise and Quantitative Reliability Optimization (QRO). QRO is a new dynamic reliability approach that bridges existing first principle’s reliability models with new data science, machine learning and system-based optimization to drive improved facility performance balancing availability, process safety and spending performance.
“One common challenge our industrial customers face today is the inability to connect and sustain asset data infrastructure across data silos,” said Ryan Myers, QRO Product Manager of Pinnacle. “The collaboration between Pinnacle and Cognite will eliminate this gap and will enable facilities to confidently make data-driven decisions enabling optimal performance at the lowest possible cost in a much faster time frame. We can essentially stand-up a reliability digital twin in months versus years.”
“At Cognite, our mission is to redefine modern industrial data management worldwide,” said Dr. Francois Laborie, President of Cognite North America. “Data is the answer to some of industry’s biggest challenges, not least of which is sustainability. Focusing on reliability can improve operations, decrease emissions, and so much more. Pinnacle’s reliability analytics expertise combined with our ability to contextualize operational data at scale allows us to make data do more, creating a valuable artificial intelligence (AI)-based solution that addresses transparency, accountability and sustainability.”
“Leveraging Cognite’s advanced AI data contextualization platform allows us to accelerate our deployment in realizing the benefits of QRO for our customers,” said Mauricio Olivares, COO, Pinnacle. “This collaboration allows our customers to speed up their digital transformation in reliability and maintenance, resulting in reduced downtime, improved process safety, reduced spend and greater facility sustainability.”