NASDAQ Stock PTC Inc (NASDAQ:PTC) and OSIsoft today at the OSIsoft Users Conference in San Francisco announced their collaboration and merging ThingWorx® Industrial Internet of Things (IoT) Platform with the OSIsoft PI System to boost IoT solutions from connected data sources. Just envisioned, the integration would make it easy for customers using the OSIsoft PI System data infrastructure to easily incorporate features from ThingWorx, along with “application enablement, machine learning, industrial connectivity, and augmented reality – and access to applications on the ThingWorx Marketplace™ to more rapidly advance IoT initiatives.” This will assist customers in expanding and quicken returns on investment.
NASDAQ Stock- OSIsoft PI System is termed as an ‘application-ready data infrastructure that collects and contextualizes operational and product data for real-time insight”. According to reports, The inception of PI System data into an Industrial IoT platform like ThingWorx , will enable customers in getting more value from the data, like creating a predictive analytics models that significantly prevent spontaneous internet downtime with standard maintenance, creating Industrial IoT applications that offer operational intelligence, and boosts the efficiency of a particular workforce via newly augmented real-life experiences.
The idea of integrating, NASDAQ Stock OSIsoft and PTC is to identify and attain “joint customer opportunities in operational settings – discrete manufacturing, hybrid manufacturing, oil and gas, utilities, and process manufacturing.”
The divisional manager Howard Heppelmann, connected operations solutions PTC, stated that “Fundamental to success in the Industrial IoT space is not only the ability to aggregate and contextualize business and operational data in real-time.”
Also Martin Otterson, who is the senior vice president of customer success OSlsoft, is very positive about the new collaboration and how it will go with the ultimate plan of using the ThingWorx platform over the PI System Data to increase the value gained by every customer from the NASDAQ Stock PI System.
Martin further stated that “In the fast-changing world of the Industrial IoT, it’s critical that we continue to offer our customers the latest capabilities for them to maintain a competitive advantage and recognize business value.”
However, the very strong market advantage, coupled with the leadership position of PTC , makes it a right partner for NASDAQ Stock OSIsoft in the Industrial IoT arena.