OPTIMIZE ’17: Elevate, collaborate and innovate

HOUSTON -- Aspentech's user meeting kicked off Tuesday with live Irish music introducing the company’s CEO Antonio Pietri. His principal focus was a third solution portfolio—Asset Performance Management (APM)—being added to their Engineering and their Manufacturing & Supply chain solutions. Since OPTIMIZE 2015, they have spent $70 MM on acquisitions and $130 MM on internal R&D.

Antonio Pietri, Aspentech CEO
Antonio Pietri, Aspentech CEO

The company’s forward strategy has three principles:

  • Innovation—a new idea that creates value
  • The customer—enabling customer success
  • Market leadership—responsibility to advise the industries they serve.

They define Asset Optimization as a "comprehensive holistic approach to driving the highest possible financial return over the entire asset lifecycled plant to site and system, and extended life cycle by adding maintenance.”

Aspentech distinguishes themselves from firms, Pietri said, by offering only big data analytics by differentiating between Prescriptive and Predictive analytics. From its roots as a process simulation company, model-based prediction is at the heart of all their solutions. Completing its APM portfolio is reliability management and maintenance strategy offerings, still in development and testing. Asset optimization will harness emerging technologies: mobile, social, cloud containers, connectivity IoT, search and pattern recognition, 3D visualization and augmented reality, analytics models and big data, high-performance computing.

Organizational excellence is an integral to asset optimization, with a focus on business values, systematic workflow improvement with best practices and maturity levels, and automated knowledge work and transfer.

The morning keynote session continued with a product vision session by Josh Fredberg, EVP of Products and Marketing, then wrapped up with three short sessions from industry leaders: LyondellBasell's Dan Coombs, Orpic's Gabor Kennessey and Amec FosterWheeler's Scott Shorey.

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