Aveva Teases New Product Launches Ahead of Aveva World 2023

AVEVA WORLD 2023 — Aveva is teasing its new industrial intelligence-as-a-service (IIaaS) portfolio ahead of its flagship conference, Aveva World 2023.

The vendor will also announce new portfolio additions at the flagship event in San Francisco this week. They include Aveva PI Data Infrastructure, Aveva Advanced Analytics, new capabilities to Aveva Connect, and an expanded partnership with Microsoft.

Aveva's Caspar Herzberg at Aveva World 2023

“Aveva Connect is the digital experience delivering access to everything our customers and partners need to design, build, operate and optimize better with industrial intelligence-as-a-service," said Aveva CEO Caspar Herzberg. "Now you can uncover new opportunities, create a living digital twin, from a single asset to the entire value chain across all major industries. The clear benefit is that it boosts collaboration across teams and organizations, so that you can discover new opportunities and make sustainability a competitive advantage.

“By taking this approach, industry leaders are already unlocking 10% higher profitability, 3X return on investment and up to 20% higher sustainability performance," he added.

Industrial Intelligence Transforming How Industries Operate

Aveva has highlighted two big product launches ahead of Aveva World 2023.

AVEVA PI Data Infrastructure is an integrated, hybrid cloud solution that enables industries to turn physical assets into agile digital insights. Users can collaborate on shared data that they can access live, whether they are in the head office, in the plant or operating in the field. Aveva said the single-subscription solution provides customers with flexible scalability, centralized information management, and secure, collaborative intelligence sharing. The software solution includes access to cloud services from Aveva Connect, including Aveva Data Hub and Aveva Connect visualization.

Elsewhere, Aveva Advanced Analytics is a no-code software-as-a-service (SaaS) solution that enables teams to share data securely by leveraging insights from a single digital source of information. Customer applications span a range of industries, from consumer products to food and beverage, packaging, building materials and hybrid manufacturing, as well as water and wastewater.

Aveva World 2023: Expanded Partnership with Microsoft

Aveva also is extending its longstanding partnership with Microsoft. Aveva Connect and the Microsoft Fabric data analytics solution will now be interoperable to streamline the process of collecting, transforming and organizing data from various sources.

The collaboration provides insight into information that spans the manufacturing value chain. This enables companies to reduce waste, conserve energy, and improve overall efficiency and sustainability. Aveva and Microsoft’s combined offerings will leverage artificial intelligence (AI) and machine learning (ML) to accelerate value for customers to make faster data-driven decisions.

They build on the capabilities of Aveva Data Hub, the cloud-native data management solution within Aveva Connect. This helps organizations aggregate, share and analyse data with context across their connected ecosystems.

Aveva is claiming a three-year improvement in operational efficiency of 1-2%. This has resulted in cost savings of $405,000, and an ROI of 466% with payback in less than six months, according to a recent commissioned Total Economic Impact (TEI) study.

Aveva's Rob McGreevy

Chief product officer Rob McGreevy said the solution represents tthe starting point in Aveva's vision for the connected industries of the future.

“We are excited to see the positive response from customers live in the expo and in sessions here in San Francisco," he said.

Aveva is expecting more than 2,000 attendees at Aveva World 2023, where they can explore industry tracks, keynotes and an expo. With the theme "Connect your World," they can see the firm’s latest industrial cloud solutions, industrial digital twin and test out sector-expert AI.