Building asset intelligence. Success requires a solid foundation!
Businesses of all sizes are getting smarter about their assets, people and transactions. It's thanks to the IoT, cloud applications as well as A.I. platforms that find new insights within large data sets.
As the industry evolves and gets ‘smarter’, one of the biggest challenges it faces is how to unite data, and become more integrated.
While most areas of a business have already adopted a degree of digitisation, asset managers have been slower to embrace the digital revolution. Historically, enterprise management systems (like Maximo) have focused on becoming the single source of truth for lifecycle performance, cost and condition of organisational assets and facilities. To do this, they rely on the ability to feed them quality data.
With a swing towards mobility, IoT and machine learning we are seeing datasets grow both in their volume and complexity. Compounding this is the silos of data that exist within legacy systems, other business units or geographically dispersed locations. Building a single view of an asset, requires access to all relevant data sets.
The asset insights any organisation produces, are only as good as the data sets they are built on.
This is a problem that is only set to grow. There are many respected sources that predict exponential data growth toward 2020 and well beyond. They are all in broad agreement that the size of the digital universe will double every two years at least, this represents a 50-fold growth from 2010 to 2020.
Traditional approaches to data management are extremely costly, complex and often considered out of the scope of an asset management team.
So how do asset managers put a process in place to drive data insights, and deliver a single view of their asset?
If you are looking at a simple way to get back into the fray, Certus has developed the Certus Data Vault 2.0 platform. It is a fully managed offering that is a key component of the Certus Assets Insights Platform.
Data Vault 2.0 combines the Data Vault 2.0 methodology with the latest capabilities in; managed cloud infrastructure, ETL automation, metadata management, governance, data quality, as well as end to end managed services. It is matched with a delivery framework that includes agile delivery methodologies, project/design templates as well as resource training. This provides a holistic approach to modernising your information management, and covers people, processes and technology.
What this means for asset managers is a simple approach to centralising data, unifying data silos and providing a true single view of an asset. This will move your business up the asset maturity curve. It takes your practice from a cost centre to a strategic driver of competitive advantage.