Augury's platform supports digitized collaboration and knowledge sharing, resulting in more informed decisions
SANTA CLARA, Calif., July 21, 2021 /PRNewswire/ -- Based on its recent analysis of the global AI-based Machine Health-as-a-Service market, Frost & Sullivan recognizes Augury, Inc. with the 2021 Global Product Leadership Award for its AI-based Machine Health-as-a-Service software. With its highly accurate prescriptive diagnostics, scalability, and guaranteed outcomes, Augury drives insight-driven manufacturing. Its autonomous and transformative solution influences behavioral and change management across the entire organization.
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Augury's Machine Health-as-a-Service is categorized by 4 components: Monitor, Diagnose, Guide, and Act. Its connected solutions create a virtual cycle of continuous improvement by employing cutting-edge technologies. Augury offers hardware, such as sensors to monitor machines and collect data, and software, such as machine learning (ML) and artificial intelligence (AI) to conduct diagnostics, predict machine malfunctions, and provide alerts. Its web applications, software, and visualization tools provide full visibility into machine health across a facility. Meanwhile, its prescriptive diagnostics, insights, and analytics leverage a machine's entire history to deliver detection accuracy over 99%. Its Diagnose component helps manufacturing customers understand what is happening in their machine and prescriptively determine when a problem will occur and its root cause, how severe it is, and how to fix or avoid the issue.
"Augury can visualize and analyze a tremendous amount of data, allowing it to serve as a single source of truth and as a data platform for assets and operations," said Sankara Narayanan, Senior Industry Analyst. "The company is focused on expanding its portfolio and capabilities in multiple directions. For example, it now correlates machine health insights with operational parameters, productivity goals, and sustainability, creating more capabilities for its customers."
Augury drives additional use cases to support Industry 4.0: intelligent reliability, intelligent production, intelligent quality, spare part inventory optimization, sustainability, and energy management. The exceptional capabilities of its platform help customers achieve a 3x return on investment within months. At the same time, it serves as the foundation for enterprises' larger digital transformation regardless of where they are on the manufacturing, operations, and maintenance maturity curve. The vast amounts of data that will be generated when its solutions cover both critical and less critical secondary equipment will help Augury drive a precise customer asset strategy.
"Augury positions customers to easily scale, grow, and update their operations as their businesses evolve in tandem with emerging market trends. Its business development and partnership strategy hinges on close working relationships, especially with technology platform providers, rotating equipment OEMs, facility service and management companies, and strategy and insurance companies," noted Sankara Narayanan. "Overall, its ability to drive usage, engagement, and adoption across the organization is expected to help it expand its market reach and achieve sustained growth."
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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Kristen Moore
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About Augury, Inc.
Augury is building a world where people can always rely on the machines that matter. Augury supports its customers by enabling digital transformation through superior insights into the health and performance of the machines they use to make products, deliver services and improve lives.
