Industry: Heavy Equipment
Caterpillar has developed offerings to help customers around the world better understand the health of their fleet, optimize machine availability, and improve business performance. The challenge is to provide scalable solutions that can be customized for customers’ unique data sources and systems, leveraging best-in-class technology in the rapidly-evolving space of IoT. Caterpillar’s focus is to help customers transform their business by turning quantifiable data into actions that improve their management systems, reduce costs, and drive additional profits, while protecting their people and the environments in which they operate.
Caterpillar leveraged its internal teams and partnerships with technology companies to improve upon its offerings that gather historical and real-time data, combine it to be analyzed, then generate predictions for workflows, logistics, fleet management, and condition monitoring.
Caterpillar can now provide a more powerful approach to help customers with effective decision-making for both CAT and non-CAT products and for its end-to-end business operations. Caterpillar’s predictive diagnostics solutions, for example, have provided failure cost avoidance in the hundreds of millions of dollars across multiple customers. One customer was able to save over $3.9 million in one year.
As the company continues to leverage emerging capabilities and technologies, including drones, video analytics, machine learning, artificial intelligence, and site simulations, Caterpillar will empower customers with insights that will lead to better business solutions, reductions in owning and operating costs, effective decision-making, and more efficient operations. Additionally, adding the power of decades of experience in multiple industries, deep knowledge of the equipment and operations, and experience with customer data and platforms, Caterpillar has positioned itself as a leading industrial analytics solutions provider.