SUNNYVALE, Calif.--(BUSINESS WIRE)--Falkonry, Inc., the leading provider of predictive operations technology, today announced that it will be demonstrating Falkonry LRS and its new Edge Analyzer capability in the Siemens booth [Hall 9 - Booth D35] at the Hannover Messe on April 3 in Hannover, Germany. Already proven to deliver 5-10 times annual return on investment (ROI) Falkonry LRS has seen growing customer adoption in the European market, particularly in the industrial equipment, automotive, and electronic component manufacturing industries. Customer use cases showcasing the power of the Falkonry system can be found at this link.
The recent World Economic Forum report “Fourth Industrial Revolution: Beacons of Technology and Innovation in Manufacturing” highlights manufacturing sites that have successfully implemented Industry 4.0 technologies, including predictive operations technology. Benefits include 80% reduction in quality deviations from advanced analytics and 60% reduction in production line breakdowns from real-time monitoring & prediction. Nine of the 16 identified ‘lighthouse’ sites are based in Europe, including Siemens. Falkonry is a portfolio company of Next47, the Siemens-backed global venture firm.
The report identified five drivers that enabled the sites to scale from proof of concept to production deployments. Falkonry LRS delivers this scale by contributing to these drivers in the following way:
1. Big-data decision making: Falkonry LRS discovers patterns in operational data and provides alerts without human intervention.
2. Democratized technology: Falkonry LRS enables operations teams to create and deploy predictive models without requiring data scientists.
3. Agile working mode: Falkonry customers benefit from Proof of Value (PoV) approach that quickly assesses use case allowing transfer to production in a few months.
4. Minimal incremental cost to add use cases: End users learn Falkonry LRS once and can apply it to multiple use cases by themselves.
5. New business models: Industrial equipment and IIoT platform companies are embedding the Falkonry LRS predictive analytics engine into their solutions to provide higher value offerings to their customers.
“Many companies in Europe have found themselves stuck in proof of concepts without a clear path for scaling to production,” said Dr. Nikunj Mehta, Founder and CEO of Falkonry. “This is where Falkonry LRS excels because no other machine learning product enables operations teams to create and deploy predictive models without the need for data scientists, all the way from the cloud, to on-premises and out to the edge.”
About Falkonry Edge Analyzer
Falkonry’s new Edge Analyzer is available as part of Falkonry’s leading “pre-packaged” machine learning system, Falkonry LRS. Edge Analyzers can be created in Falkonry LRS and transported for installation in remote or mobile environments. Minimal resource requirements allows for operation in constrained environments. They are configurable for high availability and can tolerate sensor and network outages. Use of containers enables runtime to be insulated from other processing activities. Each Edge Analyzer can be used to monitor multiple edge endpoints, and several Edge Analyzers can be deployed on a single computer to support multiple assessments. Each Edge Analyzer includes a perpetual use license.
About Falkonry
Falkonry is the leading provider of predictive operations technology for companies looking to achieve significant improvements in the uptime, yield, quality and safety of their operations. Falkonry enables operations teams to discover, explain and predict behaviors that matter, without requiring data scientists. Falkonry’s “pre-packaged” machine learning system, Falkonry LRS, complements a user’s domain expertise with predictive operations technology to more deeply understand their operations, and can scale across assets, processes and operations. For more information about Falkonry and its products, please visit www.falkonry.com.
