Caterpillar, known for its big trucks and big machines, now wants a piece of big data.
CEO Doug Oberhelman tells Fortune’s Susie Gharib that the company is focusing on the Internet of Things. It has partnered with tech startup Uptake, a Chicago-based data analytics firm—located near Caterpillar’s headquarters in Peoria, Illinois—that creates software to help companies collect and understand huge amounts of data. In the case of Caterpillar, Uptake puts sensors inside the company’s equipment that can identify patterns in machine maintenance. The information can warn customers when repairs are due before a shutdown occurs. Oberhelman says this is a “game-changer for us.”