Peoria, Illinois – To help customers better understand the health of their equipment and optimize machine availability, Caterpillar Inc. has entered into a technology and predictive analytics agreement with Uptake. Caterpillar has made a minority investment in Chicago-based Uptake and will jointly develop an end-to-end platform for predictive diagnostics to help Caterpillar customers monitor and optimize their fleets more effectively. The new technology will be available for both Cat products and non-Cat branded products.
"Customers use our current technology for fleet monitoring and to track fuel efficiency, idle times, location, and more," says Doug Oberhelman, chairman and CEO of Caterpillar. "Our existing solutions are effective, but it's time we take it to the next level. This relationship will combine Caterpillar's world-class product engineering and design expertise with Uptake's software, application and data analytics expertise."
Oberhelman continues, "We want to empower our customers with the insight necessary to shift from a reactive ‘repair after failure’ mode to a proactive ‘repair before failure’ stance. The end result will be more efficient operations and increased fleet availability for our customers. And the more our customers' machines and engines stay running, the more money they make."
Since 2014, Uptake has been developing locomotive-related predictive diagnostics and fleet optimization solutions for Electro-Motive Diesel (EMD), a subsidiary of Caterpillar. The early successes of the locomotive project led Caterpillar to expand its relationship with Uptake into other industries Caterpillar serves.
As Uptake's exclusive partner in various industries, Caterpillar can leverage its data and operational insights with Uptake's technology and data science platform to provide unparalleled solutions for customers in each of those industries.
"We are at a unique time in history—analytics are enabling insights that are changing the way entire industries work. Uptake is at the front of this evolution," says Brad Keywell, co-founder and CEO of Uptake. "Our platform takes massive data provided by sensors, combines it with data science to understand signals and patterns and deploys insights in real time that save money, optimize performance, and prevent unplanned downtime."
In the coming months, Caterpillar will collaborate with Uptake and the Cat dealer network to roll out the latest predictive analytics and insights through web-based and mobile tools for customers.
Source: Caterpillar Inc.