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Aug 21, 2018

Peggy and Chris Smith, vice president, service innovation, Otis Elevator Co., talk about how big-data analytics are changing how it provides services. He says it is a transition and it is learning as it goes, but the first thing it did was collect a lot of data. When he looks at what customers want, they want elevators up and running, so it looked at data and how to solve customers’ problems. The company also identified how to create a predictive model and turn it into a proactive scheduled maintenance visit, and still do the maintenance, but during a time that the customer wants to do it. Otis has built an algorithm around predictive door maintenance, and Smith explains the IoT helps because it can provide data to the customer about how the elevator is declining in health and how it can move the needle back to a healthy state.