LONDON, May 24, 2017 /PRNewswire/ -- Based on its recent analysis of the predictive analytics market for process industries, Frost & Sullivan recognizes TrendMiner with the 2017 European Frost & Sullivan Award for Entrepreneurial Company of the Year. TrendMiner's high-performance analytics software enables predictive decision-making as it boasts improved situational awareness and fingerprint monitoring techniques. It gives customers faster actionable information as it is capable of generating influence factors and situational hypotheses founded on pattern recognition and backed by time-series data.
"Most of TrendMiner's tools focus on enhancing data availability to the subject matter expert, rather than the data scientist," said Frost & Sullivan Senior Research Analyst, Sharmila Annaswamy. "Furthermore, TrendMiner eliminates the need to model the processes because its self-service analytics platform enables the subject matter experts to directly analyze, monitor, and predict process and asset performance."
TrendMiner's software is plug-and-play and has an installation time of less than an hour, either in the cloud or on-premise, which meets process industries' demand for fast deployment. It directly involves a client's process engineers and operators in the implementation process, which has gone a long way in breaking entry barriers.
The company fosters long-term customer relations through its joint innovation strategy model that involves the customer in every step of the project. Additionally, it ensures that customers obtain optimum value by employing the following three levels of sustained customer engagement initiatives:
- Providing dedicated, on-site onboarding programs to introduce the product and its features to factory personnel
- Collaborating with the customer to help capture, realize, and monetize business value with solid returns and increased overall profitability
- Tracking product use through technical and analytical algorithms to identify and address gaps and proactively offer value-enhancing guidance
TrendMiner focuses only on challenging process industry applications with its unique, high-speed trend search engine and diagnostic and predictive analytics. This approach entrenches the company in the predictive analytics landscape. While market leaders focus on large conglomerates, TrendMiner operates in the uncontested medium and large enterprise segments, presenting search, capture, monitor, and predict capabilities, as well as a platform for collaboration, active learning, and knowledge sharing.
"TrendMiner aids a best-in-class 40% improvement in plant resource efficiency through its process and asset data analytics capabilities," noted Annaswamy. "It is one of the few market participants to offer fast diagnostics that are not Excel-based and, importantly, its patent-pending pattern recognition software for predictive situations delivers optimal price-performance value."
TrendMiner constantly strives to exceed customer expectations using tools such as the Make-a-Wish option in its software that allows customers to request new features. An algorithm tracks and ranks the most-requested features for development and inclusion in new versions of the TrendMiner software. It invests in global offices around Europe and the United States to deliver instantaneous and professional customer support, setting itself apart from competition that uses artificial cloud algorithms and chat bots in the front-end.
Overall, for its visionary leadership and focus on innovation-led growth, Frost & Sullivan is pleased to present TrendMiner with the 2017 Frost & Sullivan Award for Entrepreneurial Company of the Year.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in devising a strong growth strategy and robustly implementing it. The recipient has shown strength in terms of innovation in products and technologies, leadership in customer value, as well as speed in response to market needs. In short, the award looks at the emerging market players in the industry and recognizes their best practices that are positioned for future growth excellence.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
TrendMiner is a software company that delivers self-service data analytics. Our software is specifically developed to optimize process performance in industries such as Chemicals, Petrochemicals, Oil & Gas, Pharmaceuticals, Metals & Mining and Process Manufacturing.
TrendMiner software is based on a high-performance analytics engine for data captured in time series. Through an intuitive web-based client, process engineers and operators can easily search for trends. Using pattern recognition and machine learning technologies, they can question the data directly without help from a data scientist.
Search, diagnostic and predictive capabilities enable users to speed up root cause analysis, define optimal processes and set fingerprints to monitor production. These can be used to send out automated early warnings to control room staff in case of deviation. TrendMiner software also helps team members to capture feedback and leverage knowledge across sites.
The plug and play software adds value immediately after deployment, eliminating the need for infrastructure investment and long implementation projects. TrendMiner software can improve efficiency and quality, reduce waste and energy consumption, and optimize production performance across divisions.
TrendMiner, founded in 2008, is a software company with global headquarters in Hasselt, Belgium, and offices in the Netherlands, Germany, Spain and the U.S. TrendMiner offers standard integrations with historians such as OSIsoft PI, Yokogawa Exaquantum, AspenTech IP.21 and Honeywell PHD.
To learn more about TrendMiner, please visit www.trendminer.com
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SOURCE Frost & Sullivan