Uptime Analytics: how to reduce costs thanks to data analysis?

One of the big bets of companies for the next few years is the qualified analysis of data for decision making.

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One of the big bets of companies for the next few years is the qualified analysis of data for decision making. Although this trend is not entirely new, nowadays the phenomenon of data is gaining strength thanks to technologies such as Big Data and the Internet of Things. In Latin America there is still a lot of ignorance about the type of data obtained, which are the most relevant, but above all, what to do with this information.

Thinking about this great explosion of data and its possible uses in companies, two Colombian youngsters Óscar and Luis Fernando Hoyos created Uptime Analytics, a SaaS solution that maximizes the value of analytics, IIot, Big Data and predictive models to reduce operating costs and maintenance.

Oscar worked as a Reliability Engineer at a copper mine in Chile and Luis Fernando was a consultant in reliability for the oil sector working on projects for companies such as BP, PetroBras, Ecopetrol, among others. During these experiences both were able to witness needs in the different industries about the quality of information of the maintenance systems and about the decision models available to support “better” decisions.

It is there as 3 years ago they created a methodology that would improve the quality of maintenance information in companies. Initially, they started as a consulting company and today Uptime Analytics is a technological company that offers a solution in the cloud focused on optimizing Maintenance and Reliability management by leveraging technologies such as Analytics, IIOT and Big data.

“The opportunity was clear to us. We wanted to solve the great challenge of “good quality maintenance information” in the asset-intensive industries. We live in the information age and we knew the great opportunity that existed and still exists.”

Future lies in the data and its interpretation

Throughout the history of maintenance, different technologies have emerged that revolutionized independently generating dispersed and unconnected data sources that make decision making difficult. The teams generate a large amount of information that exceeds the analysis capacity of the human being. Therefore, it is necessary to have at hand a solution such as Uptime Analytics that facilitates the registration, processing and analysis of this amount of information and thus manage more efficient equipment that can meet the production objectives of the industries.

The business model of this company is 100% leveraged in technologies such as Big Data, IIoT, Analytics, Industry Cloud that today are changing the way things are done:

  • Big data: can be defined as the management of a variety, volume and speed of data transferred. Assets generate a large unstructured amount of data which contains a lot of information that, when analyzed well, could be used to improve the performance of assets.
  • IIoT: The IoT (Internet of Things) is the interconnection of digital devices, mechanical machines, objects, animals and even people who communicate with each other through a network. The IIoT (industrial internet of things) is the use of IoT technology in the industry. Accessing asset information quickly allows us to make more timely decisions about when to stop a computer to avoid the consequences of a failure.
  • Analytics: The analytics platform allows us to process big data, create predictive algorithms and visualize information in a friendly and flexible way for clients.
  • Industry Cloud: is a solution is hosted in the cloud, allowing lower costs of infrastructure and software maintenance of customers and allowing access to information faster and from any point in order to make better decisions at the right time.

The expansion of the data is the expansion of the market

Uptime Analytic, which is currently in the acceleration program of Wayra Colombia, focuses on the verticals: energy, hydrocarbons and mining. The way to reach new customers is through allies or directly.

However, their ambition is not left alone in the local market and they already have a strategic plan for expansion abroad. “Today we have as a client a gas company in Canada and a hydroelectric plant in Chile. The way in which we have attracted these clients is through the great acceptance that our course “Achieving reliability to deliver data” has had. To date we have trained more than 200 people, 50 companies in 5 countries (Mexico, Argentina, Peru, Chile, Jamaica, Canada), “they comment.

According to these entrepreneurs, in 10 years Uptime Analytics will be a benchmark in the data market allowing asset-intensive companies to improve the efficiency of their maintenance and the performance of their assets through the analysis of data. They only hope to consolidate their national and international presence, developing technology to fulfill the mission and having developed and materialized the concepts of Shared and Commercial analytics.