PTC announced on Thursday the availability of ThingWorx Analytics Builder, the latest component of its ThingWorx Internet of Things (IoT) platform. ThingWorx Analytics Builder is an interactive user interface for creating and managing advanced analytic models for use in ThingWorx-powered solutions. With the addition of ThingWorx Analytics Builder, PTC further enhances its IoT analytics capabilities through the ThingWorx platform.
ThingWorx Analytics Builder is a part of and complements the already robust capabilities of ThingWorx Analytics. The product helps convert complex data readings from connected products and services into simple-to-understand information via a user-friendly interface.
ThingWorx Analytics Builder simplifies the advanced analytics process, helping solution developers interpret information faster and save valuable time for other parts of the data analysis process.
ThingWorx was purpose-built from the ground up for the Internet of Things, consisting of the most complete set of integrated IoT-specific development tools and capabilities available, offering the industry’s deepest functional capabilities. ThingWorx makes it easy to develop and deliver enterprise IoT solutions that deliver transformative business value.
The extensive ecosystem of ThingWorx partners exists to create and extend smart, connected capabilities to all things for all industries. The economic impact that the Internet of Things will have on product makers, factories, and other complex systems such as smart cities is projected by McKinsey to reach $11.1 trillion a year by 2025.
To capture this value, IoT solutions will be formed of many parts and players, from sensor and hardware providers, to independent software vendors (ISVs) and system integrators. ThingWorx provides the technology foundation to organizations to capture real value that will transform the way they compete, and the way they work.
“Implementing a comprehensive analytics operation should be at the top of the priority list for any company pursuing an IoT strategy,” said Ryan Caplan, general manager, ThingWorx Analytics. “ThingWorx takes the complexity out of the analytics process, and now with ThingWorx Analytics Builder, it’s easier and faster to realize the true value of IoT – understanding the data.”
Interest in IoT analytics capabilities is expected to increase as the number of connected devices continues to grow. According to Gartner, the market for connected devices will grow to surpass 20 billion things by 2020. These connected products will emit billions of operational and situational data points that, when harnessed and interpreted correctly, enable a company to optimize products, enhance product performance, improve customer satisfaction, and save valuable time and money. Throughout the month of September, PTC showcased its expertise in IoT analytics alongside several of its ThingWorx partners in webcasts shown globally.