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CATERPILLAR FORMS ANALYTICS & INNOVATION DIVISION
Apr. 14, 2015
Diesel Progress magazine reports:
Saying it would capitalize on the growing importance of data analytics and to drive innovation to support customers, Caterpillar Inc. has announced the formation of a new division, Analytics & Innovation (AI), which will be led by Caterpillar vice president Greg Folley.
The division will bring together the people and resources to form a broad and connected analytics system and manage strategic third party relationships with providers like Chicago-based Uptake, a start-up with which the company recently announced a technology and predictive analytics agreement.
Caterpillar will co-locate employees with the Uptake team in Chicago to accelerate the work needed to create a platform that takes the massive amounts of data, combines it with data science to understand patterns and quickly deploys information to customers.
The company is also placing resources in the Silicon Valley and has seeded money in a venture capital fund with the goal of investing in emerging technologies that could further enhance Caterpillar's product and service development.
"We can transform the mountains of incoming data - from a single machine or engine, an entire job site, the supply chain, a shipping location and much more - into valuable information for our customers and suppliers more efficiently and effectively than anyone else," said said Rob Charter, Caterpillar group president with responsibility for the Customer & Dealer Support (C&DS) division.
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