Welcome Guest to Coatings World    Login || Register
Last Updated Sunday, November 23 2014
Print RSS Feed

Project Will Leverage Big Data for Business Decision Making



Published February 12, 2014
Optimal Solutions, Inc. (OSI), of Lyndhurst, has received a $225,000 National Science Foundation grant with the assistance and guidance of the New Jersey Small Business Center's Technology Commercialization program which focuses on assisting science-tech companies in taking their innovations from the laboratory to the marketplace. 

OSI delivers customized software applications that model, optimize and simulate complex industrial processes and is headed by Vijay Hanagandi, Ph.D. Founded by former GE PhD Chemical Engineers, OSI's applications bring mathematical and computational support to companies' decision making processes in order to minimize energy usage, optimize manufacturing variables, increase profitability and decrease time to market. 

With the advent of social media, Telemetry, Point of Sale systems, and other data sources, companies are suddenly inundated with more data and they need to manage this important information in the most optimum way to make their operations more efficient, productive and effective. 

Many business owners realize that this is their opportunity to be outward and customer focused.

OSI's approach to leveraging Big Data for supply chain analytics supported by this National Science Foundation (NSF) project, involves developing novel demand forecasting algorithms. These algorithms will use massive quantities of data and enable companies to radically alter the way they plan to meet customer demand. OSI's innovation will also help companies to feed valuable data to their R&D groups in order to bring new products to the market. 

As a recipient of an NJSBDC Small Business Success Award in December 2013, Dr. Hanagandi commented that, "The help received from the NJSBDC network's Tech Commercialization Consultant Randy Harmon has been invaluable. It has essentially helped OSI chart a course to become a products company while maintaining its steady consulting practice." Dr. Hanagandi appreciates the NJSBDC network's business guidance and help in securing the National Science Foundation STTR Phase I grant. 

In addition to the current project, NJSBDC has assisted Dr. Hanagandi in winning two previous Department of Energy Grants.

The NSF project includes a collaboration with Rutgers Discovery Infomatics Institute (RD12) which is critical for its success," he added. "RD12 will complement our deep field and customer knowledge in supply chain analytics by providing the necessary research results in the area of text mining and application required for scalability of the eventual software product." The long term goal of the project is to help increase the global competitiveness of the U.S. manufacturing sector resulting in job retention and creation.


blog comments powered by Disqus
Receive free Coatings World emails
Sign up now to receive the weekly newsletter, and more!

Enter your email address:
Company Spotlight
AZ Electronic Materials Co., Ltd.
No. 458-6, Sinsing Road Hu Kou Township Hsinchu Country 303, Taiwan
Hsinchu Country, Taiwan, 303
Taiwan
View Profile
Lubrizol Advanced Materials, Inc.
9911 Brecksville Road
Cleveland, OH, 44141
US
View Profile
Houchi Chemical Co., Ltd
No.56, Fu Chow Street
Taipei, Taipei, 100
Taiwan
View Profile
Sunin Machine Co., Ltd.
No.96, Chiao Ho Rd ,Chungho Dist
New Taipei City, Taiwan , 235
Taiwan Roc
View Profile
Keeneyes
18F, No.85, Sec. 1, Chung-Shiao E. Rd.
Taipei, Taiwan, 100
R.O.C.
View Profile
Shamrock Technologies, Inc.
Foot of Pacific Street
Newark, NJ, 07114
USA
View Profile
BASF Corporation
100 Campus Drive
Florham Park, NJ, 07932
US
View Profile
Micro Powders, Inc.
580 White Plains Rd.
Tarrytown, NY, 10591
US
View Profile
Siltech Corporation
225 Wicksteed Avenue
Toronto, ON, M4H 1G5
Canada
View Profile
Follow Coatings World On