Predictive Analytics Projects Lead with Value Estimate and End with High ROI
AUSTIN, Texas, Jan. 2, 2014 | Clockwork, a global leader in predictive analytics solutions for Enterprise Asset Management (EAM), delivered an estimated record breaking $3 Billion in value for its customers in 2013. Savings and cost avoidance targets are identified at the onset of each implementation through a Value Study process that incorporates the use of a proven formula based on years of experience and asset knowledge. Over the last four years, Clockwork’s clients have realized over $8 Billion value by identifying savings and cost optimization options.
“Reviewing reliability, availability and maintainability in operations while continually optimizing fleet performance proves to be a winning formula for our clients in 2013, a trend we believe will continue in 2014,” said Joe Berti, CEO of Clockwork Solutions. “By utilizing Insight LCM™ our clients achieve even more significant value as they leverage our big data predictive analytics platform.”
In June of this year, Clockwork announced $2 billion dollars of value driven to clients in the first half of the year. This strong finish shows additional value driven out of projects that had started earlier in 2013. Year-end projections show new Insight LCM™ customers will achieve a considerable amount of value in 2014.
Clockwork enables clients to understand the potential value for their operation from the beginning by outlining the strategy that best supports their asset performance and availability requirements. Clients are reporting high levels of ROI on key projects as cost avoidance and untapped profitability are uncovered. The Insight LCM™ software solution, powered by Clockwork LCM Cloud™ technology and enterprise asset management best practices, allows customers to accelerate their time to value.
Clockwork is a global leader of predictive analytics solutions for Enterprise Asset Management (EAM) that improves availability and reduces maintenance and repair parts costs of capital intensive assets. With over 50 customers, the company provides cutting edge solutions that analyze asset data, provide performance visibility to each phase of an asset’s life cycle, resulting in increased availability, improved utilization, and billions worth of cost savings and profitability.