Aspen Technology, an asset optimization software company, launched on Wednesday Aspen Enterprise Insights, its visualization and workflow management solution that aggregates and analyzes data from across the enterprise to deliver insights and actionable information and drive better collaboration and decision-making within organizations.
Aspen Enterprise Insights visualization and workflow management solution enables capital-intensive enterprises to analyze data throughout the asset lifecycle and across the entire value chain, delivering actionable insights to multiple users to increase operational excellence.
Aspen Enterprise Insights creates and weaves a “digital thread” within the enterprise to connect smarter processes and push the boundaries of productivity. The technology, now part of the AspenTech portfolio following the acquisition of Sabisu in June 2019, is a proven hybrid-cloud-based solution that brings enterprise-level performance management across the organization. It can enable better quality strategic decision-making by identifying the high-value data needed to provide insights and drive informed actions, enhance existing business processes and assist organizations in creating new ones.
Aspen Enterprise Insights brings newfound structure and control to data aggregation and process management. Automation enables teams to work more effectively, spending time on the things that matter most to their core mission of analysis, decision making, oversight, compliance, and quality.
Aspen Enterprise Insights integrates knowledge management into capital project delivery. It rolls up narrative captured in day-to-day project delivery as an efficient way of gathering and sharing knowledge; provides knowledge alongside data means that users do not spend hours constructing monthly reports or presentations that cover every possible query. Often lessons learned are not applied to future projects. Aspen Enterprise Insights ensures they are, gathering experiences into an expertise catalog and updating project reference models used in forecasting and early stage estimation.
Organizations struggle to identify, analyze and derive value from their data lakes, and that challenge is set to grow. According to IDC, the global datasphere is expected to reach 175ZB by 2025, with nearly 30 percent requiring real-time processing.
“The accessibility of accurate data analysis is critical when seeking greater levels of efficiency and optimization. Aspen Enterprise Insights will give our customers a flexible visualization and collaborative workflow management solution to support real-time strategic decision-making across the enterprise,” said Antonio Pietri, president and CEO of Aspen Technology. “As the Industrial Internet of Things expands, visualization of heterogeneous data sources becomes critical to the success of a digital transformation strategy. Aspen Enterprise Insights can help our customers achieve greater levels of efficiency throughout the asset lifecycle, driving towards the automation, collaboration and insights that are required by the smart enterprise.”
“Aspen Enterprise Insights offers what appears to be a unique combination of experience data and operational data with a workflow engine,” said Peter Reynolds, senior analyst, ARC Advisory Group. “When digitalization is top of mind for industry, this solution could help drive a new level of collaboration with the potential to create higher value work processes for customers.”