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Paul Steinitz

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Paul Steinitz

Paul Steinitz

Director, Strategic Services, ARC Advisory Group

Paul has over 35 years of experience in the automation industry, including positions in sales, marketing, and product management. Prior to ARC, Paul has been directly involved in the application of process control systems in the oil & gas, petrochemical, chemical, power (nuclear and fossil), and other industries.

Application Strategies for Industrial Analytics

Digitalization

Abstract: Using interconnected devices and systems, organizations can collect a wealth of real-time data about their operations. Historic data, as well as massive amounts of unstructured data such as video, audio, work logs, manuals, paper work order documents can be integrated into Analytics. The expectation is that Analytics can deliver transformational business value, by using data to predict what might occur and then act upon that prediction. Executing this vision is proving to be far from simple. Companies want to layer prescriptive Analytics on top of predictive methods, but are struggling to understand how best to employ these advanced types of Analytics. A major reason is that the highly-sophisticated Analytics needed for this type of data-driven insight are new to most industrial organizations. Barriers include the fluidity of the current supplier market, and the new skillsets required to make the data actionable.

The presentation will provide an overview of advanced Analytics, discuss the differences between the types and categories of Analytics (Performance, Predictive, and Descriptive) and types, and provide case studies of real-world applications.

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