Uptake launches new product, Uptake Scout - The Data Science Studio

Enabling all levels of users to leverage data science, Uptake introduces its third SaaS product

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Aug 19, 2020, 09:08 ET

CHICAGO, Aug. 19, 2020 /PRNewswire/ --Today, Uptake announced its launch of a new product called Uptake Scout - The Data Science Studio that puts all the tools to create state-of-the-art industrial analytics into the hands of customers. Uptake's trusted platform currently powers thousands of pre-built data science models, but now Uptake Scout allows users to quickly and intuitively configure and deploy custom models and automated anomaly detection alerts. Uptake Scout has the horsepower to address the needs of seasoned analytics professionals, while also having a simple and intuitive user interface. Coding or advanced statistics skills are no longer required to unleash the value hidden in industrial data.

For decades, big data was the destination. Now global industry leaders are realizing that big data was just the beginning. After decades of installing sensors on machines and collecting mountains of data, the biggest challenge facing industry leaders today is using that data to enable industrial intelligence to achieve asset performance and operational excellence. However, in most cases, the creation and storage of data lacked the structure and deliberate organization to make it readily available for analytics. As a consequence, data scientists typically spend about ⅔ of their time preparing data for analytics, and according to Forbes 78% say the least enjoyable part of data science is "cleaning and organizing data."

"Uptake is ensuring it is aligned with the direction of the market with the addition of Uptake Scout to existing apps Uptake Compass and Uptake Radar," shared Michael Guilfoyle, Vice President, ARC Advisory Group. "Together with machine learning and artificial intelligence, modern cloud-based application development and runtime platforms are changing the industrial software marketplace."

With Uptake Scout, the burden of collecting, cleaning, and organizing data is automated using sophisticated machine learning and artificial intelligence tools like natural language processing. When data is well-prepared for analytics, it allows analysts to focus on the activities that generate the most value for their organization.

Users can explore historical data across all types of data, equipment, and locations. Based on business-specific use cases, historical data can be used to identify, create, and test user-defined alerts - detecting anomalies from simple thresholds to complex multivariate conditions. Once an alert is defined, it is tested on historical data to ensure the frequency of alerts and reliability of the insights are viable.

As a result, users are able to leverage their data to enhance and customize their condition monitoring process, retain invaluable expert knowledge, and leverage a single source of truth across all business units, locations, and asset types.

"Uptake's overall strategy reflects the shift in demand from users toward ready-to-deploy AI that leverages pre-trained industrial machine learning," noted Guilfoyle. "Providers that initially delivered AI platforms for industrial intelligence are now delivering outcome-based applications powered by industry expertise. For many industrial users, it's a straighter line to initial value."

The introduction of Uptake Scout makes for the third product in Uptake's portfolio, which includes Uptake Radar and Uptake Compass. Uptake Radar is the longest standing product, which offers pre-trained data science models, so that analysts aren't spending the extra time building their own models and alerts, and can instead leverage proven and tested industry standards. Uptake Compass takes unorganized work order data and automatically cleans and properly categorizes that data for effective use.

"Leveraging our 30 and counting patents, the Uptake team continues innovating our product portfolio and delivering new apps like Uptake Scout with great collaboration from our user community," shared Brad Keywell, Founder & CEO, Uptake.

To learn more about Uptake Scout and how it can benefit your business, visit uptake.com/products/scout

ABOUT UPTAKE
Uptake is the intelligence system for industrial assets. Providing an AI-driven asset performance management solution, Uptake gives all departments—maintenance, reliability, and operations teams—a single, shared view of every asset in an operation. With the power of machine learning (ML) and artificial intelligence (AI), Uptake helps customers predict and prevent asset failures and unplanned downtime. Driven by powerful data science models, our products deliver insights that mitigate risk, optimize maintenance strategy and asset performance, reduce costs, and enhance safety. Recognized for leadership in industrial IoT (IIoT) by the World Economic Forum, CNBC and Forbes, Uptake is headquartered in Chicago with presence in Canada, South America, Europe, India, and Australia. To stay up-to-date on what we're doing, visit us at www.uptake.com and follow us on Twitter and LinkedIn.