Big Data, Analytics & its impact on asset management

754 views

Published on

Talk presented at the 4th Annual State Owned Assets Conference held in Sandton, 21-22nd November 2013

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
754
On SlideShare
0
From Embeds
0
Number of Embeds
12
Actions
Shares
0
Downloads
24
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Big Data, Analytics & its impact on asset management

  1. 1. Big Data, analytics and its impact on asset management Dr John Wentzel Chief Executive Officer Drake & Scull 4th Annual State Owned Assets Supervision and Administration Conference 20-21 November 2013
  2. 2. Words associated with data today Complex Lots Virtualization Cloud Cheap Public Size In 1999 the world produced 2.5 Exabyte of unique information – the equivalent of 5 Libraries of Congress
  3. 3. Sources of data in the world today
  4. 4. Data volumes are exploding Much of the new data will be machine generated, including sensors The amount of data produced in 1999 would not fit on this graph
  5. 5. We are now in the era of Big Data
  6. 6. The concept of Big Data By 2020 the volume of data generated will fill 3 Libraries of Congress every second Combing these aspects of Big Data will allow extraction of value using new management approaches
  7. 7. What can Big Data do? Using machine sensors, climate data and user energy demand, turbines can be placed and managed for optimal efficiency Using networked river sensors measuring variables in real time officials can improve resource management & react to problems. Using data & remote sensors, KTH has reduced traffic congestion by 20%, travel times by 50% and emissions by 10%.
  8. 8. 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 coordinates, 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?
  9. 9. Asset management challenges in the state Regulatory Increased demands for proof of regulatory compliance Costs Requirement to stretch spend further All of these challenges require the use, manipulation, transformation and interpretation of data Environmental Societal pressure to demonstrate sensitivity to the environment Governance Fighting fraud & corruption Service delivery Citizens seeking evidence of improved delivery Embracing Big Data has the potential to help address all of these challenges
  10. 10. The way forward with Big Data Treat data as an asset in the same way that a physical asset is treated Consider piloting, on a small scale, using data in in asset management 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
  11. 11. 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.
  12. 12. Thank You Please feel free to contact me on jwentzel@drakescull.co.za or via twitter @johnwentzelceo

×