Press Release
Groundbreaking New Solutions Provide Highly Accurate Repair Recommendations and Maintenance Optimization Tools That Reduce Costs, Increase Revenue and Boost Efficiencies Across Multiple Industries
SAN DIEGO – Sept. 26, 2018 – Hitachi Vantara, a wholly owned subsidiary of Hitachi, Ltd. (TSE: 6501), today at NEXT 2018 introduced Lumada Maintenance Insights solutions that will expand the Lumada portfolio. These data-driven, artificial intelligence (AI)-based internet-of-things (IoT) solutions use highly accurate, prescriptive and predictive algorithms that help customers anticipate breakdowns and guide them on necessary maintenance repairs, improving operations and avoiding equipment downtime. The enhancements help enterprises deliver business outcomes by maximizing the power of data no matter where it resides – from the data center to the cloud and out to the edge – and move them forward in today's digital, data-driven business landscape.
"Our clients who are entering the world of IoT tell us they require new, more flexible architectures that can unlock the value of the vast amounts of data created by devices at the edge," said Christian Renaud, research vice president, Internet of Things, 451 Research. "Hitachi Vantara is taking a strategic approach to deliver solutions that meet these new requirements."
The new Lumada Maintenance Insights solutions from Hitachi are ideal for the transportation, manufacturing and energy industries, which all rely on complex equipment in environments where unplanned downtime can have significant cost and safety implications. Customers spend an estimated $37 billion on competitive offerings that stitch together disparate software products for planning, preparing, repairing and invoicing maintenance and repair activities. Lumada Maintenance Insights solutions, however, deliver a seamless, integrated approach for all levels of personnel involved in maintenance and repair organizations – from repair technicians and maintenance managers up to heads of operations and line of business leads.
Common customer pain points addressed by Lumada Maintenance Insights solutions include:
- Equipment downtime: unplanned outages that impact key operating metrics.
- First-time fix failures: higher costs for rework and lost production.
- Excess parts inventory: wrong parts in the wrong places at the wrong times.
- Low customer satisfaction: a decrease in maintenance contract renewal rates.
Lumada Maintenance Insights incorporates machine learning models that can be rapidly customized for specific assets and operational workflows. The solutions use data analytics to understand equipment health with live and historical repair data, then analyze this data to recommend which maintenance or repair actions should be taken and when to execute them. The solutions also track and prepare repair recommendations, maintenance schedule optimization, parts supply optimization and maintenance effectiveness.
As customers prepare for the architectural disruption that IoT drives across many industries, they need complete, end-to-end solutions that provide strategic business value. The systems they choose need to provide flexibility in edge-to-cloud deployment models as new demands for edge data management and governance emerge. Hitachi's Lumada provides modular platform technologies, applications and professional services expertise that help organizations to adopt IoT with confidence.
"The emergence of IoT in the industrial landscape has introduced new challenges for customers as they work to stay competitive," said Brad Surak, chief product and strategy officer for Hitachi Vantara. "Hitachi's combined expertise in both operational and information technologies is unmatched in the industry and lays a strong foundation for developing solutions to meet these new challenges. We are excited for Lumada Maintenance Insights as a next step forward in helping customers maximize how their data is used to drive business value."
Availability
Lumada Maintenance Insights solutions by Hitachi are available for co-creation with customers today, with global general availability targeted for April 2019. More information is available at https://www.hitachivantara.com/en-us/products/iot-operations-intelligence.html.
About Hitachi NEXT 2018
NEXT 2018 is the premier event for the digital revolution. It's for data-driven innovators who lead the transformation in their industry. They lead with clear insights drawn from their own data to make the right decisions for the best results. Data changes the way the world works, advancing business and even society itself. There can never be too much data and it can never come too quickly if organizations manage, govern, mobilize and analyze it effectively. At NEXT 2018, leaders see what's next for their data in IT, operational technology and the internet of things, from Hitachi and our many partners. They bring back insights and strategies they can use right away to transform their businesses and build them for tomorrow. At NEXT 2018 we change the way the world works. NEXT 2018 is held September 25-27 at the Hilton San Diego Bayfront in San Diego, California. For more information and to register, please visit HitachiNEXT.com.
About Hitachi Vantara
Hitachi Vantara, a wholly owned subsidiary of Hitachi, Ltd., helps data-driven leaders find and use the value in their data to innovate intelligently and reach outcomes that matter for business and society. We combine technology, intellectual property and industry knowledge to deliver data-managing solutions that help enterprises improve their customers' experiences, develop new revenue streams, and lower the costs of business. Only Hitachi Vantara elevates your innovation advantage by combining deep information technology (IT), operational technology (OT) and domain expertise. We work with organizations everywhere to drive data to meaningful outcomes. Visit us at www.HitachiVantara.com.
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About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
MEDIA CONTACTS
Nick Fuentes
Hitachi Vantara
nick.fuentes@hitachivantara.com
+1 415.690.9355
Ashley Paula
Weber Shandwick for Hitachi Vantara
apaula@webershandwick.com
+1 415.262.5975
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