Schneider launches new IoT solution to help customers master operations

Developed in collaboration with Seeq, an industry-leading data-driven decision-making software and service provider, EcoStruxure Profit Advisor uses real-time big data analytics to measure the financial performance of industrial operations in real time. Measurements range from plant asset levels to process units, regions, and plants. And enterprise level. Whether it's a pre-built or cloud-based environment, it can seamlessly work in any process history database, mining history and real-time data. It will then process this data through Schneider Electric's proprietary industry breakdown algorithm to determine real-time operating profitability and potential savings.

According to Craig Resnick, vice president of the ARC Consulting Group, “Although the automation market currently has all the new technologies and new features, many industrial operations are still in a sub-optimal position because they can also generate potential business value. It is necessary to optimize business value in industrial operations. A scalable and open solution to help users take full advantage of industrial assets.This requires shortening the time from the smallest mechanical and electrical assets to the supply chain and the use of corporate assets.This approach can fundamentally shift the industry from monitoring business value. It will actually control it, which will include control of business functions such as scheduling and planning, and they are still purely transactional until now.The ability to actually control business value in industrial operations is a real breakthrough that will make a profit for the company. Have a direct and positive impact."

Real-time control of business variables

Xu Zhe, general manager of Schneider Electric's software business in China, said: "While many companies are really good at controlling their operational efficiency in real time, they are still managing their business day after day. Now this is no longer effective. Today's Changes in business variables are so fast that even when they receive updates from any enterprise resource planning system they use, information is no longer relevant to the business decisions they need to make or should make. If you want to change this situation , they need to control their other real-time business variables, including their safety and reliability, especially the operating profitability. And EcoStruxure Profit Advisor can meet their needs."

Because current cost accounting systems only measure the financial performance of plant operations at the plant level, it is difficult for companies to truly understand the impact of their financial and operational changes on business performance, whether positive or negative. To meet this need, EcoStruxure Profit Advisor enables plant personnel to see and understand in real time the ROI and business value of their activities, activities and assets that contribute to the business. It enables employees to make better business decisions through a variety of data analysis (supporting multiple formats), thereby safely improving and improving operational profitability.

Providing value-oriented industrial IoT through ubiquitous innovation

Xu Zhe, general manager of Schneider Electric's software business in China said: "Our customers are trying to solve many problems, including the speed of pure business development and how to manage the use of emerging technologies to gain the advantages they deserve. Everyone wants to talk about these new technologies, but Don't pay attention to what value it can provide.From our perspective, the digital trend of the industry is a real opportunity for our customers.We use the value orientation to enhance the industrial Internet of things, using Schneider Electric's ubiquitous innovation capabilities to help customers control them in real time. Productivity and profitability. This is the only reason why we started discussing the IoT."

Profit Advisor cascades the real-time accounting model to Seeq Workbench, making it a scalable, repeatable and easy-to-implement solution for multiple market segments, enabling customers to measure and control their profitability. Because it can be integrated with Schneider Electric simulation and modeling software in a digital dual environment, users can predict profitability under different conditions or when operations change. The software provides:

• Historical data review: Profit Advisor can assess the historical performance of a plant to estimate its operating profitability, help plant personnel analyze and understand operational execution under different conditions, and enable employees to find ways to truly improve performance. And because it can be bound to a single device, it can even provide the smallest unit of asset information in operation.

Real-time performance indicators: Profit Advisor can indicate current performance and inform the business staff of making more profits when making operational decisions. Real investment returns and improved returns will be visible, and it will allow plant personnel to concentrate and make their efforts more effective so as to maximize the economic return. It also enables plant personnel to determine which parts limit operating profitability and accurately assess the actual business value that their decisions may create.

· Profit Planning: Profit Advisor enables process engineers to predict changes in the profitability of their proposals. This will greatly reduce project risks and help eliminate waste.

Optimizing Assets: The Key to Industrial Profit Engine

Xu Zhe said: "Profit Advisor is a product of the natural evolution of our vision that we proposed a few years ago. When we started to apply the real-time accounting patent model and help our customers measure the financial performance of their business, we have carefully shown that These models can increase production value by at least 3% and reduce energy and material costs by at least 5%. This type of improvement will increase the profitability of process plants by up to $12 million per year."

“Profit Advisor once again shows how Schneider Electric offers customers value-oriented industrial IoT solutions that help customers improve business outcomes in real time – from their equipment assets through to the corporate value chain, our approach will help Process control and automation systems are converted to industrial profit engines."

(Original title: Schneider Electric's New Industrial IoT Solution Helps Industrial Enterprises Control Real-Time Profitability)