New Capabilities Enable Small Teams to Solve Big Industrial Problems and Deliver Operational Intelligence Faster
BURNABY, BC, June 1, 2016 /CNW/ - Bit Stew Systems, developer of the premier platform that solves the data integration challenge in the Industrial Internet of Things (IIoT), today announced the launch of version 10 of their MIx Core™ platform, a self-serve solution for intelligent data management for the IIoT ecosystem.
Enabling Intelligent Data Automation
Bit Stew's MIx Core is purpose-built to handle complex data integration and data analysis to provide intelligence from connected devices at the edge, OT and IT systems, and external sources. Unlike conventional ETL and BI tools, MIx Core automates data integration by applying machine intelligence to the process, which reduces project costs by an average of 90% compared to traditional approaches.
The underlying technology of MIx Core provides an unmatched capability to integrate data in even the most dynamic and complex industrial environments. The platform applies its library of machine learning algorithms using the MIx Core Analytic Framework. The framework applies groups of algorithms in an ensemble, processing and analyzing data at the document level, and giving richer context to extracting semantics. Once the platform either creates or extends a semantic model, it can continue to enrich the model's entity relationships by marking and analyzing the data's byte sequences and patterns through assertion-based logic.
"Gone are the days of large integration teams and never ending data problems. Small teams can now solve big industrial problems with MIx Core," says Franco Castaldini, Bit Stew's Vice President, Marketing. "The introduction of version 10 and the new Data Management Workbench provides a self-service experience that enables IT and OT professionals to quickly model, map and ingest data from disparate sources."
Franco says, "The platform removes the time and cost associated with continuous data wrangling which empowers industrial enterprises to transform and optimize their business, realize cost reductions, optimize asset performance, and improve productivity."
Frost & Sullivan: Data Integration Capabilities Critical to IoT Success
Analysts predict that through 2018, half the cost of implementing IoT solutions will be spent integrating various IoT components with each other and back-end systems. As a result, one of the biggest challenges industries will face is how to effectively integrate the magnitude of data being generated.
"IoT project implementers often underestimate the complexity of data integration. With billions of devices being connected, there is real market need for a solution that can seamlessly collect and analyze data to provide real business value to organizations," says Dilip Sarangan, Industry Principal - IoT, at Frost & Sullivan. "Bit Stew has demonstrated the unique ability to solve the data integration challenge by reimagining traditional data architectures to support the rapid proliferation of data from an exponentially expanding set of data types."
Partnering with GE to Improve Business Outcomes
Bit Stew partnered with GE to solve the data integration challenge at scale for complex industrial data environments. GE and Bit Stew worked with a large customer to rapidly integrate a complex and vast ecosystem of unstructured and structured data, stored across multiple data lakes, with IT and OT systems to create a single pane of glass view of operations. By overcoming the data integration challenge, the outcome gained was a real-time contextual understanding of operations, something previously unattainable.
Edge Processing for Real Time Analytics with Intel
MIx Core enables edge processing through automated data ingestion, modeling, and mapping capabilities. The platform ingests data directly from equipment sensors without the need for extensive API libraries. A federated architecture supports analytics from control systems to cloud environments, allowing the application of analytics to data while in motion. This enables real-time access to actionable insights, in a local context, to vastly improve operational agility.
Bit Stew's MIx Core has been standardized, from the beginning, on Intel's processors both in the data center and at the edge. The MIx Core platform interacts with embedded technology layers such as an Intel IoT Gateway using Intel's MQTT broker to receive sensor data, perform analytics on that data, and transmit the results to a cloud-based instance of the platform. This is an example of how Bit Stew and Intel solve the data integration, processing and analytics challenge at the edge, helping industrial enterprises derive faster time to value from IIoT.
Bit Stew is a General Member of the Intel® Internet of Things Solutions Alliance.
Continuing to Spark the Interest of the Global Investment Community
"Bit Stew's MIx Core has firmly positioned the company as a global leader in the IIoT space," says Salil Munjal, General Partner at Yaletown Partners. "Accolades from Forbes and Gartner recognize Bit Stew's technology innovation, visionary leadership and rapid growth. The company has understandably attracted some top global investors to join us as shareholders, including GE and Cisco. "
Bit Stew recently announced the initial closing of Series C funding to help advance the company's global market growth and development plans. The undisclosed investment round includes an international syndicate of new and current investors including Yaletown Partners, GE Ventures, BDC Capital and Kensington Capital Partners.
About Bit Stew Systems
Bit Stew provides the premier platform for handling complex data integration, data analysis, and predictive automation for connected devices on the Industrial Internet of Things (IIoT). Purpose-built for the IIoT, Bit Stew's MIx Core™ platform solves the data integration challenge at scale for complex industrial data environments. Bit Stew has earned global recognition by being named to Gartner's Cool Vendors List and as Frost & Sullivan's Entrepreneurial Company of the Year – North American Service Solutions. In 2015, Bit Stew was ranked as one of the Top 100 Analytics Companies and Top 100 IoT Startups by Forbes. Incorporated in 2009, Bit Stew is a venture-backed private company that is headquartered in Canada with offices in the USA, Australia and Europe. Visit www.bitstew.com to learn more.
SOURCE Bit Stew Systems Inc.
For further information: Karen Dosanjh, Senior Director, Marketing & Communications, Bit Stew Systems, Phone: (604) 328-5171, [email protected]