Palantir Issues Additional Details About Industrials Capabilities to be Shown at “Double Click” on Wednesday, April 14, 2021

Rhea-AI Summary

Palantir Technologies (NYSE: PLTR) announced updates on its Foundry capabilities during the "Double Click" demo event set for April 14, 2021. Foundry is used by industrial clients across sectors to optimize operations, manage predictive maintenance, and forecast network health. Key features include chained model simulations, dynamic orchestration of IoT data, and a query optimizer that enhances performance. Additionally, Foundry's new Quality and Supply Chain Archetypes allow for rapid issue identification and supply chain optimization, respectively.

Positive

• Enhanced Foundry capabilities improve operational efficiencies for industrial clients.
• New Archetypes make Foundry's advanced features more accessible to users.
• Query optimization allows for interrogation of trillions of data points in real time.

Negative

• None.

Palantir Technologies (NYSE:PLTR) today issued additional details about the Palantir Foundry capabilities it will be highlighting in its Industrials demo at “Double Click” on Wednesday, April 14, 2021, at 11:00am ET.

Palantir’s customers in Industrials span automotive, distribution, heavy manufacturing, chemicals, utilities, and others. These customers rely on Foundry to optimize operations and maintenance, forecast network health, and respond to unexpected events.

At the first installment of Palantir’s Double Click series, engineers will demo the latest capabilities that make this work possible:

• Chained model simulations. Foundry harmonizes data models across all organizational domains, thereby establishing semantic links between IoT time series data and supporting metadata. This ontology can then be used to provide inputs to models which mirror an organization’s real-world operations, which in turn output into 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 events in real time, or run rigorous simulations for future events. By uniting model-building and operations in one platform, any insights and optimizations propagate through an organization’s daily decisions.
• Unmatched range of analytical computations. In order to overcome the usual trade-off between complex but slow queries and simple but fast queries on ontological and time series data, Foundry's query optimizer rewrites analytical queries in order to push down operators towards the data, both in “hot” and in “cold” storage. This means that queries execute with better performance and smaller resource footprint. Moreover, the optimizer is available to all queries, whether they were submitted through APIs, from models, or via graphical analysis applications in Foundry. This allows customers to interrogate up to many trillions of sensor readings in real time.
• Dynamic orchestration without tradeoffs. Foundry serves all IoT time series data that has been ingested into the platform. The data is readily available through end-user APIs and diverse tooling, without incurring the cost to store everything in high-performance storage. Traditional time series systems force a tradeoff between keeping data in optimized but expensive "hot" storage, and offloading archived data to cheaper "cold" storage where it can no longer be queried. Foundry’s "hot" / "warm" system removes the tradeoff by automatically hydrating archived data into hot storage on-demand. Using Foundry, customers have seen compression ratios as high as 50x on machine-generated data, depending on initial format. This allows industrial customers whose capital assets are equipped with thousands of sensors each — such as airplanes, oil wells, and manufacturing plants — to stream and ingest millions of new data points per second.

In addition to these capabilities, Palantir will highlight two new Archetypes available on top of Foundry that make these capabilities available to industrial customers in a matter of clicks, including:

• Foundry’s Quality Archetype enables customers to quickly identify emerging issues, accelerate root cause analysis, manage predictive maintenance, decrease warranty costs while increasing recall accuracy, and digitally simulate changes such as swapping raw materials or increasing throughput before committing to costly production or supply chain changes.
• Foundry’s Supply Chain Archetype enables customers to forecast network health, generate early warning alerts for potential issues, algorithmically compare and optimize supply chain scenarios, respond to ongoing shocks, and monitor key KPIs such as cost, on-time performance, and CO2 emissions.

About Palantir Double Click

Palantir software is used by customers across 40 industries worldwide. Double Click is Palantir's series of software demo events that showcase how the company's platforms are used across these industries and customers. Advance registration is required, and is available at https://palantir.events/doubleclick. Capacity is limited, and registration will close 24 hours prior to the event. For more information regarding the event, please visit https://www.palantir.com/double-click or email double-click@palantir.com.

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 within 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 regarding 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 those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of 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 the unique or anticipated needs of our customers; the failure of our platforms to satisfy our customers or perform as desired; the frequency or severity of any software and implementation errors; and our platforms’ reliability. Additional information regarding 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 do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

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FAQ

What are the new capabilities of Palantir Foundry announced on April 14, 2021?

Palantir introduced enhanced features including chained model simulations, unmatched analytical computations, and dynamic orchestration for better operational insights.

How does Palantir's Foundry optimize supply chain management?

Foundry's Supply Chain Archetype provides early warnings for issues, optimizes scenarios, and tracks key KPIs like cost and CO2 emissions.

What industries use Palantir Foundry technology?

Foundry technology is utilized across various industries, including automotive, heavy manufacturing, and utilities, among others.

What is the significance of the 'Double Click' demo event for Palantir?

The 'Double Click' event showcases how Palantir's platform capabilities can enhance operations across multiple sectors, highlighting customer success stories.