Insights from EFT Analytics Providing Huge Returns in the Steel Industry
WICHITA, Kan.--(BUSINESS WIRE)--Jul 10, 2018--EFT Analytics, a leading provider of predictive analytics, process optimization and energy management solutions, is producing impressive results at the world’s most technologically advanced steel mill, Big River Steel, in Arkansas. By combining EFT’s advanced analytics software platform and engineering expertise with Big River Steel’s process and steel making knowledge, EFT has delivered a real-time solution to predict product quality issues and provide operators with guidance for reducing defects before they occur.
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(Source: Business Wire)
“EFT’s analytics platform enables our operating and maintenance teams to leverage the power of data science, resulting in significantly improved performance,” said Dave Stickler, CEO of Big River Steel. “We view data analytics and machine learning as game-changing solutions that allow us to identify and avoid the root causes of defects.”
The pairing of process knowledge with powerful data analytics tools is paying dividends for Big River Steel. The return on investment (ROI) has been recognized in a matter of months.
“Our real-time model alerts operators at Big River of changing conditions that increase the likelihood of defects and gives them the ability to adjust process inputs and make corrections,” said Brent Youngers, president of EFT Analytics. “We’re extremely excited that our collaboration has helped minimize defects, equating to improved product quality and significant cost savings.”
Big River Steel has built the world’s first Flex Mill™, a technology-based steel mill and recycling facility focused on the production of a wide product spectrum, including advanced automotive steels and electrical steels. Since operations began in 2017, Big River has provided steel products to more than 200 customers in the automotive, energy, construction and agricultural industries.
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About EFT Analytics
EFT Analytics provides SaaS based advanced analytics solutions for large industrial companies. EFT is a subsidiary of Koch Industries, one of the largest private companies in the US. Koch has delivered results using its unique management philosophy across dozens of industries and hundreds of sites for decades. EFT strives daily to bring those time-tested fundamentals to how we operate and what we deliver. By combining our advanced analytics software with Koch’s operational excellence, we are providing a world-first, highly unique concept that’s proven to deliver results. EFT is located in Ireland, New York, and Kansas – providing predictive analytics, process optimization and energy management solutions for more than 100 blue chip clients all around the globe. More information is available at www.eftanalytics.com.
About Big River Steel
Since operations began in 2017, Big River has provided steel products to over 200 customers in the automotive, energy, construction and agricultural industries. Big River Steel takes a visionary, entrepreneurial approach to the ever-changing American manufacturing industry by reimagining what it means to be a steel company in the global marketplace. From its Flex Mill™ equipment, to AI technology, to partnerships with academic research institutes, Big River is daring to be more than what you’d expect from a steel company. Big River knows innovation is alive and well in steel, and they’re excited to be leading that charge. More information is available at www.bigriversteel.com.
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CONTACT: EFT Analytics
Koch Communications Marketing
KEYWORD: UNITED STATES NORTH AMERICA ARKANSAS KANSAS
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT ELECTRONIC DESIGN AUTOMATION SOFTWARE OTHER TECHNOLOGY MANUFACTURING ENGINEERING STEEL
SOURCE: EFT Analytics
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PUB: 07/10/2018 10:24 AM/DISC: 07/10/2018 10:24 AM