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Real-time measure of profitability

By Rick Pendrous

- Last updated on GMT

Schneider Electrics new software can measure financial performance in real time
Schneider Electrics new software can measure financial performance in real time

Related tags: Management, Programmable logic controller, Control

Energy management and automation specialist Schneider Electric has introduced new Industrial Internet of Things (IIoT) capabilities that enable customers to measure and control the profitability of operations in real-time.

Developed through a partnership with Seeq, a provider of software and services for data-driven decision making, the IIoT-based 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.

It can be used to ‘mine’ both historical and real-time data. It then processes this through Schneider Electric’s accounting algorithms to determine real-time operational profitability and potential savings.

“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 any more,” ​said Martin Walder, vice president of industry at Schneider Electric.

Contact Schneider Electric​ for more information. 

Related topics: IT

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