Not long ago we were known as the “two men with a slide deck.” —-
From a handful of slides in 2013 to six major strategic investors in 2016, I have a great story to tell you all, from this corner in the coming weeks.
Our story unfolds the saga of 1%! —-
But not that 1% the politicians are babbling about, it is the other 1%, when achieved in an industry, it adds a $1 trillion to global economy.
What is this 1% then? —-
It is the pursuit of improvement in productivity of core assets by the largest companies in the world.
Achieving that level of productivity recently has proven to be a very hard problem. And of course, going after hard problems is what we the engineers thrive on.
What makes achieving it difficult? —-
Prior to answering this question, I’d like to give you a snap shot of the current state of the analytics for asset productivity, called asset performance and optimization, asset optimization for short.
Say, you take “sales orders” to manufacture devices critical to an industry, you “manufacture” and ship them, you then sell “service contracts” to maintain these devices for 10-20 years, you perform “maintenance & repair” on these devices, you send “parts & supplies & people” to the device sites, you try to collect “payments” on time, and you also compete to “sell parts” that to go on the devices you sold.
You divided the above ecosystem of yours, into 10 silos, and have been optimizing productivity in each silo independently. In time you have developed a few thousand reliable (data) models that are now the centerpiece of your analytics for optimization of assets in these silos.
But lately, after a decade or two of success, your above analytics setup is running out of steam and finding additional asset optimization gains has been a challenge.
Now back to what makes achieving the next 1% difficult. —-
It is obvious that the next 1% asset productivity gain cannot be driven by the incumbent “siloed” approach to asset performance optimization.
It will only come from the “holistic” approach. In other words by “breaking out” of analytic silos. Think of your ecosystem above, the entire system is now analyzed and modeled as a whole.
The holistic approach is different than the siloed approach. The number of data sources to be analyzed and the number of analytical models needed are orders of magnitude more than in any analytical silo.
Products, tools, and data models that are used at analytical silos, do not work for the holistic approach, and no amount of retrofitting helps.
How does today’s press release relate to the next 1%? —-
Today we announced our Series B funding. The armada of strategic investors of Maana is a cue to a new approach in analytics that enables holistic asset optimization to achieve the next 1% gain in operational efficiency.
Maana has been firmly and quietly moving to the center of this new approach of analytics, ever since we were the “two men and a slide deck.”
What is our contribution to making the next 1% achievable. —-
We remove the biggest roadblock to holistic analytics for asset optimization. That is the organization of data from myriad of sources related and relevant to assets into a new knowledge structure that enables rapid and mass scale development of models.
Adoption of our innovation by an increasing number of the world’s largest corporations and the renewed investment of our existing strategic investors along with new strategic investors are testimony to Maana as the enabler of the next 1%.
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