{"id":1364,"date":"2020-08-27T09:47:06","date_gmt":"2020-08-27T08:47:06","guid":{"rendered":"http:\/\/www.intelligentcio.com\/apac\/?p=1364"},"modified":"2026-07-23T10:53:17","modified_gmt":"2026-07-23T09:53:17","slug":"ls-electric-and-nokia-to-improve-asset-performance-with-new-analytics-management-tool","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/apac\/2020\/08\/27\/ls-electric-and-nokia-to-improve-asset-performance-with-new-analytics-management-tool\/","title":{"rendered":"LS ELECTRIC and Nokia to improve asset performance with analytics management tool"},"content":{"rendered":"\n<p><strong><em>A collaboration between LS ELECTRIC and Nokia will jointly develop a digital utility asset performance management solution.<\/em><\/strong><\/p>\n\n\n\n<p>LS ELECTRIC, one of South Korea\u2019s biggest providers of electric power equipment and automation solutions, and Nokia have signed a MoU to collaborate on creating intelligent and analytics-based platforms to evaluate the performance of utility assets.<\/p>\n\n\n\n<p>This platform will allow LS ELECTRIC\u2019s customers to proactively manage mission-critical asset performance by identifying root causes and adapting to changing conditions in order to better maintain or replace assets quickly and efficiently.&nbsp;<\/p>\n\n\n\n<p>Under the agreement, LS ELECTRIC and Nokia will conduct a Proof of Concept (PoC) trial of Nokia\u2019s SpaceTime asset lifecycle optimization application, prior to rolling out the solution to LS ELECTRIC\u2019s customers. By leveraging the solution\u2019s risk analysis capabilities, customers can improve operational efficiency by maximizing asset lifespan and improving visibility of their probability of failure. &nbsp;<\/p>\n\n\n\n<p>Nokia\u2019s SpaceTime asset lifecycle optimization platform \u2013 based on Big Data analytics and Machine Learning technology \u2013 will enable LS ELECTRIC to enhance its offerings in the utility asset market by adding assessment capabilities to its asset portfolio.<\/p>\n\n\n\n<p>Kim Young Keun, Chief Technology Officer at LS ELECTRIC, said: \u201cThis collaboration with Nokia paves the way for the development of new business cases in the field of asset performance management, as well as presenting an opportunity to engage with innovative businesses in South Korea in the era of Industry 4.0.<\/p>\n\n\n\n<p>\u201cWe are confident that Nokia\u2019s global expertise will help us to develop a solution that provides our customers with a 360-degree view of their assets and business imperatives. It will also help us drive innovation as one of the leading global utility asset manufacturing companies offering asset analysis and management capabilities.\u201d<\/p>\n\n\n\n<p>Kevin Ahn, Head of Korea at Nokia, said:<strong> \u201c<\/strong>Nokia is trusted by all major South Korean operators to deliver 5G connectivity, and we are taking that experience and local knowledge into the enterprise space.<\/p>\n\n\n\n<p>\u201cThe South Korean utilities market is highly competitive and is driven by seeking operational efficiencies throughout the supply chain. This collaboration will allow LS ELECTRIC to expand its utility asset business and portfolio by delivering a flexible solution that can meet a variety of business case objectives.<\/p>\n\n\n\n<p>\u201cWe further expect to extend this synergy to 5G-based convergence opportunities such as Smart City and Smart Factory projects.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A collaboration between LS ELECTRIC and Nokia will jointly develop a digital utility asset performance management solution. LS ELECTRIC, one of South Korea\u2019s biggest providers of electric power equipment and automation solutions, and Nokia have signed a MoU to collaborate on creating intelligent and analytics-based platforms to evaluate the performance of utility assets. This platform [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":1365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[56,17,23,35],"tags":[207,890,892,591,887,102,891,889,888],"class_list":["post-1364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia","category-industry-verticals-energy","category-green","category-more-news","tag-analytics","tag-kevin-ahn","tag-kim-young-keun","tag-korea","tag-ls-electric","tag-nokia","tag-performance-management-solution","tag-spacetime","tag-utility"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/1364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/comments?post=1364"}],"version-history":[{"count":6,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/1364\/revisions"}],"predecessor-version":[{"id":1371,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/posts\/1364\/revisions\/1371"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/media\/1365"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/media?parent=1364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/categories?post=1364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/apac\/wp-json\/wp\/v2\/tags?post=1364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}