10.03.2016

Part 3: Predictive Analytics in the Industrial World – Driving Business Value

Author: Beena Ammanath
Part 3: Predictive Analytics in the Industrial World – Driving Business Value

Over the past weeks we have shared insights from Beena Ammanath, Executive Director, Data Science Products and Delivery, GE Digital about data in the industrial world and power of predictive analytics. For this final Q&A, we drill further into best practices and significance of analytics on the way we live and work.

What type of collaboration between data scientists & domain experts do you recommend for data-driven organizations?

Data science isn’t new at GE. For a long time, data scientists have been taking a statistical approach to analyzing the data, not the new machine learning approach. Now with Predix, we can combine traditional statistics and machine learning to get better algorithms and better results. We are able to marry our data science with our domain-based knowledge. Data science by itself will not get you the best results, because you need to understand the physics behind the equipment to make the analytics impactful for industrial use cases. Predix fuses machine learning with domain knowledge resulting in better outcomes.

Also, analytics is just a correlation or formula. To get the domain knowledge you need a human brain to contextualize it for the field manager or even for programming a machine. Domain expertise is crucial to drive effective analytics at the end of the day.

Where will we see the most impact from analytics?

I believe data science will have its biggest impact in the industrial arena. It is going to transform our global economy – just like the industrial revolution, which significantly impacted how we work and automated manufacturing and mass production.  This next industrial revolution will have data science right at its core. As machines get smarter, everything is going to be connected, measured, analyzed and managed. It is going to save lives, reduce power consumption and will change the way we live.  Sound lofty?  It really is not.  Imagine for a moment, a patient having a MRI using connected healthcare equipment. If an anomaly in his scan was identified, the equipment would immediately be able to signal to other systems anywhere in the world and discover relevant data that could help doctors prescribe and direct treatments that may work best for this patient’s case.  It could even pull from reliable and tested data about other cases of a similar nature.  Time to insights will be dramatically improved, the patient will get the care necessary with a better experience and a life may be saved. For outcomes such as this one, I truly believe the industrial world is where data scientists will have the biggest and most meaningful impact.

The discoveries we will make with IIoT will go far beyond data points and quantities and will impact human experiences in ways we can’t measure but will result in amazing consequences in the way we live.


Thanks to Beena for taking the time to share her perspective on how to gain the best insights in this data-driven age.

 

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