Yokogawa Electric Corporation has announced its establishment of Industrial Knowledge, a new business unit aimed at accelerating expansion of its business in asset intensive industries through the provision of cloud-based advanced solutions.
Industrial Knowledge will focus on solutions that create value for industrial customers by collecting, integrating and analyzing data and converting it into an actionable form. It will rely on Industrial Evolution’s secure cloud platform and technologies for the collection, integration and analysis of real-time process data from firewall protected systems to quickly develop its business.
According to Yokogawa, the new Industrial Knowledge business unit is part of its previously announced Transformation 2017 plan. Yokogawa is striving to expand its solutions service business by engaging customers in a co-innovation process and achieving a company-wide optimization of business operations.
Industrial Knowledge is the "doing business as" (DBA) name of Yokogawa Venture Group, Inc., a wholly owned Yokogawa subsidiary established in December 2015 in an effort to engage in the provision of SaaS, a cloud-based advanced solution business.
According to Yokogawa, Industrial Knowledge will play a central role in devising strategy and developing this business while seeking to extend the range of its solutions and technologies through the adoption of existing Yokogawa technologies and the use of M&A. Industrial Knowledge has experts in advanced solutions and M&A, and will be granted leeway to undertake initiatives to develop this business.
To learn more about the Industrial Knowledge unit, visit www.industrial-knowledge.com.