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Success Stories
EIC Survive 2024 EIC Survive&&Thrive Thrive 2024
JulyJuly 2024 2024
Story type #digital (main category) #collaboration, #innovation, #service & solutions
AVEVA Empowering organisations with data, collaboration and connectivity Roy Calder
Alastair Cox
Industry Principal – New Energies
Market and Competitor Intelligence Manager
How is AVEVA thriving? AVEVA’s innovative CONNECT platform is revolutionising industrial process management by seamlessly integrating supply-side and demand-side dynamics, ensuring data security, compliance and system integration. Leaning on data as the cornerstone of success, AVEVA’s innovative proprietary solution is helping clients to optimise production, operation, maintenance and decarbonisation for complex facilities, driving competitive advantages and unique efficiency gains. The challenge - Global engineering and industrial software specialist AVEVA is a formidable enterprise, its 6,500 employees in 35 countries supporting customers across 55 territories internationally, collectively generating annual revenues of £1.3bn. Such an expansive footprint is a testament to the firm’s renowned reputation. Indeed, AVEVA’s mission is simple – to spark industrial ingenuity by connecting customers with trusted information and insights to enable the responsible use of the world’s resources. The acquisition of OSIsoft and its world-class PI System in 2021 marked a pivotal moment within this context, enhancing AVEVA’s capability to provide crucial insights into key industrial processes to better measure and understand the entire industrial lifecycle. Following the merger with OSIsoft, it was clear that the company remained in growth mode. However, in an effort to keep a finger on the pulse of changing market needs, AVEVA opted to review its strategy. Acknowledging the exponential growth of data, which nearly tripled from 26 to 79 Zettabytes in the four years preceding the acquisition, AVEVA recognised the increasing importance of data utilisation. With projections indicating data will reach 181 Zettabytes by 2025, the firm sought to enhance its portfolio to empower organisations to effectively harness and exploit these rich data sets across the value chain to enhance their competitive position. The solution - To drive relevant strategic changes, the firm conducted comprehensive research on its client base and the broader market. The findings revealed suboptimal data utilisation, with 73% of collected data lying
dormant and 76% of business leaders struggling to comprehend it. Using these insights, AVEVA recognised the imperative to tailor its tools to address these precise needs, empowering clients to extract vital insights from the expanding data landscape. This enhancement aimed to boost organisational productivity, efficiency, operational agility, and sustainability. AVEVA also realised that critical subject matter experts often reside outside of their organisations, and a connected industrial ecosystem must be created for breakthrough improvement. This happens when companies can safely share information in real-time with trusted partners. Rather than developing new products, the focus was on expanding upon its existing toolset and creating an Open Industrial Ecosystem, where data could be stored with context, managed, shared, visualised, analysed, enhanced and actioned efficiently. Thus, the idea of CONNECT emerged. CONNECT represents AVEVA’s vendor-neutral industrial data platform, enabling teams to access near real-time data without disrupting production systems. Offering scalable cloudbased applications, CONNECT leverages AI expertise for enhanced sustainability and efficiency, delivering: Trusted intelligence: establishing a single source of truth for proven applications.
• Actionable insight: closing the loop for tangible real-world impact. • Unified experience: harmonising diverse perspectives into one shared reality. • Empowered ecosystem: catalysing the network effect throughout the value chain.
These cloud-based solutions empower process and manufacturing industries to embrace digital transformation confidently and efficiently, internally and across their supply chain. This ensures customers accelerate their time to value with a flexible, scalable, and trusted hybrid SaaS solution. The platform’s value has already been demonstrated through practical applications. In one case, a client has utilised CONNECT to share operational data with its analytics part-
Benefits ▸ CONNECT’s capabilities are proven to several clients. ▸ Clients’ digitalisation journeys supported by AVEVA.
Key findings For industry ▸ Understand the pivotal role of contextualised data: it’s the fuel for innovation, decision-making and sustainable growth. ▸ Foster collaboration and connectivity within the industrial ecosystem. For government ▸ Actually develop and adopt a clear vision and leadership, particularly when it comes to our ageing infrastructure.
AVEVA at a glance: Key products and services: industrial software, from energy to infrastructure, manufacturing, transportation, mining and chemicals. Main industries served: ▸ Oil and gas – 30% ▸ Conventional power – 15% ▸ Others (non-energy): chemicals, infrastructure, process industries, manufacturing, marine, transportation – 55% Headquarters: Cambridge, UK Year established: 1967 Number of employees: 6,500 Revenue: £1.3bn Revenue from exports: 83%
ner in real time, resulting in significant operational enhancements. This move reduced offspec processing, decreased crude waste by 49%, and bolstered annual production, yielding a US$10m improvement in its bottom line. Similarly, another client streamlined real-time data sharing among multiple power organisations using CONNECT, saving thousands of dollars on power purchases while enhancing operations.