Will develop advanced analytics solutions
Sandvik Mining and Rock Technology today announced an agreement with IBM to jointly develop market leading offerings in Data Driven Productivity and Predictive Maintenance services for the mining and rock excavation industry. Under the agreement, Sandvik and IBM will develop advanced analytics solutions to improve safety, maintenance, productivity and operational services of mining and rock excavation equipment.
The growth in onboard instrumentation and data gathering capabilities in heavy equipment are presenting natural resource industries with opportunities to employ advanced analytics and models to identify and resolve productivity issues and improve process optimization and performance. Deployment of digital technologies are expected to create as much as $100bn value to resource producing companies by 20351.
As two global leaders – Sandvik and IBM will be working together to make a clear difference in productivity improvements in mining and rock excavation companies globally. A Memorandum of Understanding has been signed with the intent to create market leading offerings in data driven productivity and predictive maintenance solutions. The two companies are already working jointly with selected customers to pilot the concept and commercialize specific solutions. The first wave of work will be done on Loaders and Trucks, connecting up to 15 units and integrating live data from multiple on- and off board systems to run the analytic algorithms.
The IBM-Sandvik collaboration will involve the use of advanced analytics, remote monitoring and cognitive technologies to allow natural resource companies to combine equipment and application data from disparate resources and automatically analyze patterns in the data to improve performance and productivity.