United Technologies acquires Predikto

Posted on 03 Oct 2018 and read 830 times
United Technologies acquires PrediktoUnited Technologies Corp (UTC) has acquired Predikto Inc, an Atlanta-based company known for its cloud-based predictive health maintenance solution.

This can take hundreds of industrial-asset data-sets and automate up to 80% of the analytics process to quickly deliver actionable insights for taking pre-emptive steps and thereby reducing down-time.

Vince Campisi, UTC’s chief digital officer (www.utc.com) , said: “Data is the lifeblood of any digital strategy, and actionable data is the way forward.

We are excited about this announcement and the future ahead together.

By harnessing the best of our combined predictive analytics skill-sets, we can better connect all critical assets, to understand the reliability and health of our products.”

Predikto recently completed several pilot projects with UTC subsidiary Pratt & Whitney, specifically focused on commercial engines and using pre-existing data.

The models generated by Predikto identified factors related to unplanned engine events; they will increase the predictability of future issues and inform key product improvements.

What would previously have taken engineers months (to aggregate the data and create algorithms) only took days for two data scientists to complete, using the Predikto software platform.

Predikto CEO Mario Montag said: “Predictive analytics and data science have the power to change the way today’s businesses run, especially in complex asset-intensive industries.

"Predikto’s approach and technology have been demonstrated globally in the aviation, rail and shipping industries, where unplanned down-time and unscheduled maintenance can be costly. There is great opportunity for additional applicability to many of UTC’s products and services.”

Mr Montag will assume the role of chief data and analytics officer for UTC, driving the strategy and direction of its global data and analytics initiatives in support of the company’s businesses.

Predikto will have a presence in Atlanta (Georgia) and Brooklyn (New York).

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