Improve installed base visibility to generate operational and business Intelligence

The analytical instrumentation market is growing rapidly in response to the increased demand in laboratory instrumentation equipment. Its projected growth of 53% by 2027 presents an opportunity to many companies in this competitive market. Companies in this industry see this as an opportunity to support their end customers by investing more into R&D to improve product quality and adapt to new government regulations.

A leading global manufacturer of analytical instrumentation is seeking ways to increase their revenue and stay ahead of the competition. While their lab instruments can be applied to a wide range of industries such as petrochemical, refinery, oil and gas, and include a range of measurements and methods, they were exploring new ways to increase revenue and enhance competitive advantage.

After they reached out to Prescient, it became clear what they lacked was installed base visibility.  In the current state, they have no visibility into how their instruments are used by their customers, which limits them from improving their products and services. Their customers also lacked visibility into their lab operations. For example, some of their customers didn’t realize that up to half of their instruments were under-utilized due to a lack of communication between operations and management. Maintaining the current state would be detrimental for both sides because the instrumentation manufacturer wouldn’t be able to learn what was holding their customers back, and their end customers would not be able to use their instruments optimally.

Prescient brought the much needed installed base visibility to the instrumentation manufacturer by utilizing the data their instruments already generate at the edge. Prescient’s platform, Prescient Designer, makes it fast and easy to extract, cleanse and analyze the data to generate operational and business insights, and shown on an interactive dashboard. Within two weeks, the instrumentation manufacturer was able to deploy this data solution at their customer’s site, and within a month, their customer provided positive review on how this solution was providing unprecedented visibility into their operations, resulting in an average instrument utilization improvement of 39%.

The installed base visibility that Prescient’s solution provided was key to generating the data-driven operational and business insights required to discover future product development and business opportunities. Product features, performance, reliability, services, and customer relationships can all be improved based on this data-driven approach.  When this visibility is provided to the end customers, the instrumentation manufacturer creates a new data-driven business with significant recurring revenue opportunity.

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What You Need to Know

  • Improve instrument utilization by 39%

  • Visibility into installed base within 2 weeks

  • Data-driven operational and business insights for future product development and business opportunities