ColdLight is making data science simple through its data science platform, Neuron. ColdLight's CEO, Ryan Caplan, discusses how they employ automated machine learning to find patterns and actionable insights hidden within massive data sets.
ColdLight’s Neuron to serve as PTC’s platform for automated predictive analytics
NEEDHAM, MASS., May 5, 2015 – LiveWorx 2015. It’s On! – PTC (Nasdaq: PTC) today announced it has signed a definitive agreement to acquire ColdLight, a visionary in big data machine learning and predictive analytics, for approximately $105 million. The acquisition of ColdLight’s Neuron automated predictive analytics platform will enrich PTC’s technology portfolio and extend PTC’s position as a leader in the Internet of Things (IoT) market.
"In this special guest feature, Rob Patterson of ColdLight examines the benefits of leveraging machine learning to enhance the story that businesses are able to tell with their data."
"As I’ve discussed and written in the past, the business value of the IoT is not in connecting and managing devices, although these are critical to form the necessary foundation for value realization. The real value lies in the ability to shorten the latency in decision-making."
"While PTC‘s latest acquisition target of a Big Data company fits squarely with its strategy to dominate the Internet of Things (IoT) market, it definitely draws the firm further away from its roots as a CAD and PLM (product lifecycle management) provider."
"With this acquisition, PTC strengthens its IoT platform in the area that could provide the highest value when things are connected: data analytics."
"Needham software company PTC Inc. said Tuesday that it has agreed to acquire ColdLight, a Pennsylvania-based maker of software that uses analytics to evaluate data from connected devices, for approximately $105 million."
"Manufacturing software company PTC believes predictive maintenance will be one of the first clear killer apps for the Internet of things, a credible theory given big investments in this area by GE and Caterpillar."