DENVER – (BUSINESS WIRE) – Palantir Technologies (NYSE: PLTR) today released additional details on the capabilities of the Palantir Foundry that will be featured in its Industrials demonstration at “Double Click” on Wednesday, April 14, 2021, at 11:00 ET.
Palantir’s customers in the industrial area include automotive, distribution, heavy manufacturing, chemicals, utilities and others. These customers rely on Foundry to optimize operations and maintenance, predict network health and respond to unexpected events.
In the first part of Palantir’s Double Click series, engineers will demonstrate the latest features that make this work possible:
- Simulations of chained models. Foundry harmonizes data models across organizational domains, establishing semantic links between IoT time series data and supporting metadata. This ontology can then be used to provide inputs for models that reflect an organization’s real-world operations, which in turn generate outputs for the ontology. To understand the full impact of any decision, these models can be chained together in a digital twin that can be used to adapt to real-time events or run rigorous simulations for future events. By combining model building and operations on one platform, all insights and optimizations propagate in an organization’s day-to-day decisions.
- Unparalleled range of analytical calculations. In order to overcome the usual trade-off between complex but slow queries and simple but quick queries on ontological and time series data, Foundry’s query optimizer rewrites analytical queries in order to push operators into the data, both in “hot” as in “cold warehouse. This means that queries are executed with better performance and less resource consumption. In addition, the optimizer is available for all queries, whether they are sent through APIs, templates or through of graphical analytics applications on Foundry. This allows customers to interrogate up to many trillion sensor readings in real time.
- Dynamic orchestration without compensations. Foundry provides all IoT time series data that has been entered on the platform. Data is readily available through end-user APIs and a variety of tools, without incurring the cost of storing everything in high-performance storage. Traditional time series systems force a trade-off between keeping data in optimized, but expensive, “hot” storage and transferring archived data to cheaper “cold” storage, where they can no longer be consulted. Foundry’s “hot” / “hot” system removes the compensation, automatically hydrating archived data in hot storage on demand. Using Foundry, customers saw compression rates of up to 50x on machine generated data, depending on the initial format. This allows industrial customers whose capital assets are equipped with thousands of sensors each – such as airplanes, oil wells and factories – to transmit and ingest millions of new data points per second.
In addition to these features, Palantir will highlight two new archetypes available at the top of the Foundry that make these features available to industrial customers in a matter of clicks, including:
- Foundry quality archetype allows customers to quickly identify emerging problems, accelerate root cause analysis, manage predictive maintenance, lower warranty costs while increasing recall accuracy and digitally simulating changes, such as changing raw materials or increasing throughput before commit to expensive production or changes in the supply chain.
- Foundry supply chain archetype allows customers to predict network health, generate early warning alerts for potential problems, compare and algorithmically optimize supply chain scenarios, respond to ongoing shocks and monitor key KPIs such as cost, on-time performance and emissions of CO2.
About Palantir Double Click
Palantir software is used by customers in 40 industries worldwide. Double Click is the series of software demonstration events from Palantir that show how the company’s platforms are used in these sectors and customers. Early registration is required and is available at https://palantir.events/doubleclick. Capacity is limited and registration will be closed 24 hours before the event. For more information about the event, visit https://www.palantir.com/double-click or send an email to [email protected].
About Palantir Technologies Inc.
Palantir Technologies Inc. builds and deploys operating systems for the modern enterprise. Additional information is available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements in accordance with the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations of the event and the expected performance and benefits of, or anticipated updates to, its software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time that these statements are made and current expectations, as well as management’s beliefs and assumptions at that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include, but are not limited to, our ability to meet our customers’ unique or anticipated needs; failure of our platforms to satisfy our customers or function as desired; the frequency or severity of any software and implementation errors; and the reliability of our platforms. Additional information about these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.