To help customers around the world better understand the health of their equipment and optimize machine availability, Caterpillar Inc. has entered into a technology and predictive analytics agreement with Uptake.
Chicago-based Uptake is a provider of a dynamic analytics and insight platform for a wide array of industries. Since 2014 it has been developing locomotive-related predictive diagnostics and fleet optimization solutions for Electro-Motive Diesel (EMD), a subsidiary of Caterpillar.
With this announcement comes word that Caterpillar has made a minority investment in 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,” said 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. As a result, we’ll be able to transform the quintillion bytes of incoming data we see every day into useful information we feed back to our customers for on-the-spot decisions and planning purposes to further reduce owning and operating costs.”
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,” said 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. Our partnership with Caterpillar has resulted in a cross-industry platform that is informed by the best data and the best operational insights.”
Caterpillar selected Uptake as its partner based on the capabilities the company witnessed following the agreement with EMD. Uptake’s location in Chicago, which is near Caterpillar’s headquarters in Central Illinois and the company’s largest concentration of U.S. engineers and factories, was also a key factor.
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.
Tags: Caterpillar, Telematics