big data, analytics & its impact on asset management
DESCRIPTION
Talk presented at the 4th Annual State Owned Assets Conference held in Sandton, 21-22nd November 2013TRANSCRIPT
Big Data, analytics and its impact on
asset managementDr John WentzelChief Executive OfficerDrake & Scull
4th Annual State Owned Assets Supervision and Administration Conference20-21 November 2013
ComplexLots
Public Size
Cheap
Words associated with data today
In 1999 the world produced 2.5 Exabyte
of unique information – the equivalent of 5
Libraries of Congress
Cloud
Virtualization
Sources of data in the world today
Data volumes are exploding
The amount of data produced in 1999 would not fit on this graph
Much of the new data will be machine
generated, including sensors
We are now in the era of Big Data
The concept of Big Data
Combing these aspects of Big Data will allow
extraction of value using new management
approaches
By 2020 the volume of data generated will fill 3
Libraries of Congress every second
What can Big Data do?
Using data & remote sensors, KTH has reduced traffic congestion by 20%, travel times by 50% and emissions by 10%.
Using networked river sensors measuring variables in real time officials can improve resource management & react to problems.
Using machine sensors, climate data and user energy demand, turbines can be placed and managed for optimal efficiency
Big Data in facilities management?
What if you could combine access control data, weather data, air-conditioning
performance and automatically adjust performance to save energy?
What if, using remote smart sensors, GIS co-ordinates, you did not need to look for your building stock – but it told you where it was?
What if you could use Big Data and analytics to identify patterns in purchasing behavior that correlate with fraud and corruption ?
What if you could combine citizen satisfaction feedback, staff morale measures
and maintenance records to link asset performance to delivery?
Asset management challenges in the state
Regulatory
Increased demands for proof of regulatory compliance
Costs
Requirement to stretch spend further
Environmental
Societal pressure to demonstrate sensitivity to the environment
Governance
Fighting fraud & corruption
Service delivery
Citizens seeking evidence of improved delivery
All of these challenges require
the use, manipulation,
transformation and interpretation of data
Embracing Big Data has the potential to help address all of these challenges
The way forward with Big Data
Treat data as an asset in the same way that
a physical asset is treated
Have a strategy for your data, the same
way you have a property strategy
Assess the quality of your data, the way you assess asset
quality
Consider piloting, on a small scale, using
data in in asset management
Summary
• Big data is increasingly prevalent and its impact
is only likely to grow.
• Big data can be particularly advantageous when
applied to the management of facilities.
• The use of Big Data moves the management of
assets from a reactive to a predictive approach.
• The use of Big Data can allow the state to meet
some of its most pernicious asset challenges.