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Leveraging Big Data for Strategic Business Decisions

Jul 14, 2013 | Insights

Big DataCollecting and analyzing information to influence business decisions – commonly referred to as “big data” – is revolutionizing the way businesses are run across the globe.  For asset-intensive industries like mining, wind, and oil and gas, big data can dramatically improve and streamline operations, helping boost production, manage logistics and create a safer working environment.

Remote sensors and other data input, combined with data management tools and real-time information processing, are transforming these industries and making employee injuries and stockpiles a thing of the past. By outfitting every piece of equipment and training every employee to track information, vast amounts of data can be collected from operations throughout the world.

Equipment maintenance is one area where immediate improvements can be seen with relatively easy implementation of big data analysis. As machine wear and fluid levels are monitored on a more regular basis, millions of dollars can be saved on maintenance costs.

Because mines, power plants and wind farms are generally located in remote areas, the use of technology can improve their management significantly. Companies can monitor their limited resources more effectively, avoiding resource crunch as they analyze local trends and forecast product demand. When you have limited trucks, personnel, digging equipment or other resources, big data can make the difference between a routine increase in resource commitment and an unforeseen disaster. For example, by tracking various statistics, managers might know when a particular mine might need to step up production, or when a particular turbine might wear out.

Remote and autonomous trucks, glasses that can predict the approach of sleep, and mobile computing all help reduce the risk of injury for workers in the field, while increasing opportunity for data collection. Organizations have begun broadcasting safety messages and sending in automated equipment in areas identified as high risk.

Outside of resource management and increasing worker safety, big data can actually increase profits. Mining operations will soon be customized for maximum ROI by leveraging data insights, helping the industry avoid stockpiles, an occasionally wasteful practice. Complex decisions like the viability of individual mines or projects, demand forecasting, or even the management of trading desks can all be improved through the use of big data.

Custom mining, energy and wind industry software is available to help manage resources, customer relationships, supply chain solutions and much more. Companies can even combine the best of available asset-heavy industry cloud software in order to take full advantage of big data. Companies like DINGO are working every day to help organizations make more strategic business decisions through big data.

businessman

“Trakka allows our team to run a highly effective condition-based maintenances program that helps our mine operate at the lowest cost per hour.”

– Maintenance Manager at a leading North American coal mine

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