
EcoStruxure Profit Advisor measures and controls real-time profit performance of every plant asset and asset set
Applies Big Data analytics and patented real-time accounting models to identify potential profitability improvements
Converts control and automation systems into industrial Profit Engines
Schneider Electric, the global specialist in energy management and automation, has introduced new IIoT capabilities that will enable its industrial customers to measure and control the profitability of their operations in real time.
Developed through a partnership with Seeq, a leading provider of software and services that enable data-driven decision making, EcoStruxure Profit Advisor uses Big Data analytics to measure the financial performance of an industrial operation in real time, from the equipment asset level of a plant up to the process unit, plant area, plant site and enterprise levels. On-premise or cloud-enabled, it works seamlessly with any process historian to mine both historical and real-time data. It then processes that data through Schneider Electric's proprietary segment-specific accounting algorithms to determine real-time operational profitability and potential savings.
Despite all the new technology and capabilities available to the automation market today, many industrial operations are still performing sub-optimally when it comes to the potential business value they can generate, according to Craig Resnick, vice president, ARC Advisory Group. Optimising business value in industrial operations requires scalable, open solutions that help users leverage every industrial asset. This requires shrinking the time to asset benefit from the smallest mechanical and electrical assets to the supply chain and enterprise. Such an approach could ultimately enable industry to move from monitoring business value to actually controlling it. This would include controlling business functions, such as, for example, scheduling and planning, that until now were purely transactional. This ability to actually control business value in industrial operations is a real breakthrough and will result in direct positive effects to companies' bottom lines.
Controlling Business Variables in Real Time
While many companies are getting really good at controlling the efficiency of their operations in real time, they're still managing their business month to month. That just doesn't work anymore, said Martin Walder, vice president of Industry at Schneider Electric. Business variables are changing so quickly - sometimes by the minute - that by the time companies receive updates from whatever enterprise resource planning systems they use, the information is no longer relevant to the business decisions they need to make or should have made. If they want to change the game, they need to control their other real-time business variables, including their safety, their reliability and especially their operational profitability. Profit Advisor allows them to do that.
Because current cost accounting systems only measure the financial performance of the industrial operation at the overall plant level, it is difficult for companies to truly understand the financial impact - positive and negative -operational changes have on business performance. To address that need, Profit Advisor allows plant personnel to see and understand the ROI and business value their actions, activities and assets are contributing to the business in real time. It empowers the workforce to make better business decisions with a variety of data analytics, which can be displayed in various formats, to help drive operational profitability improvements, safely.
Innovating at Every Level to Deliver Value-focused IIoT
Our customers are struggling with many issues, including the sheer speed of business and how to manage and use emerging technology to their advantage, said Martin. Everyone wants to talk about all this new technology without focusing on what value it can deliver. From our perspective, the digitisation of industry is a real opportunity for our customers. We're taking a value-focused approach to IIoT because we know our ability to innovate at every level can help our customers control their productivity and profitability in real time. That's the only reason we should be talking about IIoT to begin with.
Profit Advisor layers real-time accounting models onto the Seeq Workbench to become a scalable, repeatable and easy-to-implement solution for multiple segments, enabling customers to both measure and control their profitability. And because it can be integrated with Schneider Electric's simulation and modelling software in a digital twin environment, users are further enabled to forecast profitability under different conditions or if changes to the operation are made.
Overall, the software provides:
1. Historical Data Review: Profit Advisor can evaluate the historical performance of the plant to assess its operational profitability, helping plant personnel analyse and understand how the operation performed during different conditions. It enables the workforce to identify true performance-improving initiatives. And since it can be tied to individual pieces of equipment, it can provide that information down to even the smallest asset in the operation.
2. Real Time Performance Indication: Profit Advisor can indicate current performance and inform plant personnel when their operating decisions are making the business more profitable. Actual ROI and return on improvements will be visible, enabling plant personnel to concentrate and refine their efforts to the actions that provide the greatest financial returns. It also enables plant personnel to determine which parts of operation are constraining operational profitability and accurately estimate the business value their decisions might actually cr
Most recent headlines
14/03/2025
BURLINGTON, Mass. Avid has expanded its executive leadership team (ELT) with the appointment of three experienced executives: Tom Sharma as chief technology off...
14/03/2025
CUPERTINO, Calif. TVU Networks, a pioneer in live video production and a leader in cloud-based media solutions, is marking its 20th anniversary at the 2025 NAB ...
13/03/2025
(L-R) Stephanie Suganami, Tatanka Means, John Malkovich, Ayo Edebiri, and Juliette Lewis attend the premiere of Opus at Eccles Theatre in Park City. (Photo by...
13/03/2025
Spotify took center stage at the London Book Fair this week, reaffirming our commitment to the audiobook market and showcasing our impact on the publishing indu...
13/03/2025
At Spotify, we work every day to lift up new voices, giving creators the opportunity to live off their art. Through Spotify Audiobooks, our in-house publishing ...
13/03/2025
Every time airborne law enforcement (ALE) teams fly, they expect their equipment to perform. Whether airborne units are conducting support for ground teams, bor...
13/03/2025
Sunday February 9 saw the annual return of the US' biggest television event, the Super Bowl LIX. Jamie McCombs, Fox Sports Audio Consultant / Sr. Audio capt...
13/03/2025
On Sunday March 2, stars across the film industry gathered at the Dolby Theatre in Los Angeles for the 97th Academy Awards. Production Sound Mixer Paul Sandweis...
13/03/2025
WUPPERTAL, Germany Riedel Communications will feature its new StageLink family of smart edge devices, Smart Audio and Mixing Engine (SAME) and Virtual Smart Pan...
13/03/2025
TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring ...
13/03/2025
DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage P...
13/03/2025
FOR-A America Theme - Connecting the Present, Building the Future - Comes to Lif...
13/03/2025
CTIA, the wireless industry association, has named former FCC Chairman Aji Pai as its President and Chief Executive Officer, effective April 1. He replaces Mere...
13/03/2025
he National Association of Broadcasters is urging the FCC to end its investigation of that controversial CBS interview with Kamala Harris stating there is no ...
13/03/2025
MIAMI CBS News & Stations continues to expand its use of augmented and virtual reality technologies with the planned launch of an augmented reality/virtual real...
13/03/2025
Srividhya Srinivasan, co-founder and chief customer success & innovation Officer at Amagi, tells TVBEurope how staying ahead of the latest trends is essential f...
13/03/2025
WASHINGTON FCC Chairman Brendan Carr announced that the agency has launched a massive, new deregulatory initiative that could potentially subject virtually all ...
13/03/2025
SUNNYVALE, Calif. SDVI has announced that it has integrated its Rally media supply chain management platform with the Spectra Vail multi-cloud data management s...
13/03/2025
ATLANTA Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acqu...
13/03/2025
TV Tech: What do you anticipate will be the most significant technology trends at the 2025 NAB Show?...
13/03/2025
Watch Student Naomi Soleils Folk Pop Performance on The Voice The songwriting major sang Stars by Grace Potter and the Nocturnals during the blind auditions.
...
13/03/2025
Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content Feature marks Rokus first women's league-branded zone within service By Bra...
13/03/2025
Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew...
13/03/2025
SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size ...
13/03/2025
IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036;...
13/03/2025
NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical...
13/03/2025
SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive...
13/03/2025
Sky Business, Sky's B2B division, providing connectivity and content to busi...
13/03/2025
Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark ...
13/03/2025
We asked the questions, analysed the answers and now we're excited to share the results of the fifth edition of the ICG Marketing Survey.
Our 2025 survey p...
13/03/2025
SAN JOSE, Calif. - March 13, 2025 Harmonic (NASDAQ: HLIT) today announced a breakthrough in video streaming innovation with the launch of new origin capabilitie...
13/03/2025
Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025
Haivision's video wall systems, ISR technology, and DoDIN APL-certified video distri...
13/03/2025
Company Leads the Way with New Software-Based Production Platform, 12G Switcher,...
13/03/2025
A new Apple Immersive concert experience, Metallica, is coming to Apple Vision Pro this Friday, March 14. Filmed in Mexico City during the sold-out second-year ...
13/03/2025
Here is your host, Patrick Kielty!
Shake your Shamrocks, Patrick Kielty will be...
13/03/2025
This St. Patrick's weekend, RT invites you to celebrate all things Irish, showcasing the very best of Irish sport, entertainment and live coverage from the...
13/03/2025
What's next in AI is at GTC 2025. Not only the technology, but the people and ideas that are pushing AI forward - creating new opportunities, novel solution...
13/03/2025
Facebook
Twitter
LinkedIn
By combining T-Mobile's robust network, Thal...
13/03/2025
Bundle up - GeForce NOW is bringing a flurry of Blizzard titles to its ever-expanding library.
Prepare to weather epic gameplay in the cloud, tackling the genr...
13/03/2025
AI is leveling up the world's most beloved games, as the latest advancements...
13/03/2025
PC game modding is massive, with over 5 billion mods downloaded annually. Mods p...
12/03/2025
O Spotify acaba de lan ar o relat rio Loud & Clear deste ano, uma vis o transpar...
12/03/2025
Spotify acaba de presentar el informe Loud & Clear de este a o, una mirada trans...
12/03/2025
Ramadan, a period of profound spiritual significance for Muslims worldwide, is a time for fasting, prayer, reflection, and community. Enrich your experience thi...
12/03/2025
Spotify has just unveiled this year's Loud & Clear report, a transparent loo...
12/03/2025
More than 70% of FAST programming has been produced since 2010, according to new Gracenote report
NEW YORK March 12, 2025 Gracenote, the content data busin...
12/03/2025
GEONA, Nev. Independent digital and linear advertising rep firm Viamedia will adopt cloud-based ShowSeeker Pilot as its primary ad campaign and order management...
12/03/2025
BRUSSELS Mediagenix has announced that Wael Yasin has joined the company as sales director Central Europe....
12/03/2025
LONDON A new study highlights opportunities for shoppable TV and the massive impact online consumer spending is having on the economy, with Omdia predicting tha...
12/03/2025
CUPERTINO, Calif. Interra Systems has announced that Comcast Technology Solutions has integrated recent updates to BATON Version 9 into its operations....