Big data is revolutionizing information management – but can it really help asset owner operators and EPCMs dealing with engineering information? Learn about the challenges and potential for improving profitability.
Big data is revolutionizing information management – but what difference does it make if you can’t trust the data? And how does it apply to managing engineering information? BlueCielo considers the real-world applications and measurable business benefits of Big Engineering Data for owner operators and EPCMs.
The Challenges of a Big World
Global markets are volatile, competitive and increasingly complex. Competing in this rapidly changing global landscape requires scale and efficiency – but as the scale increases, so does the complexity, resulting in the inefficient management of asset-related information. In today’s market that is a critical concern for all global players.
The only effective strategy for survival is leverage, and nothing is easier to leverage than the combination of information and technology.
Why Big Really is Better
A big data approach is ideal for improving profitability because it thrives on scale. The volume of information needed to manage global engineering assets and the variety of systems used cease to be barriers to efficiency – with big data these become advantages.
For example, the many LOB applications on a single production facility handle crucial data for revenue-generating assets such as pumps, vessels, process lines, etc. That data is already pretty big, but plant modifications increase this data exponentially. Now add to this the data transfer needed for engineering departments to work with contractors and suppliers. You start to see the scope of Big Engineering Data and why maintaining asset data integrity is such a challenge for Operations and Maintenance.
The solution is to harness the power of that volume of information. Big data combines information from multiple sources and is suited to handling complex data that is in-change and interrelated. So the more asset-related technical information you manage and the more references you need to maintain, the more you can benefit.
Not All Problems are New
Big data does not remove the basic challenges of Asset Information Management, such as maintaining master data as-built (data quality and consistency), but it can contribute to solving them and it offers added advantages.
Big engineering data solutions must address basic needs such as providing quick global access to an extended enterprise (supply chain management), high security for collaboration and exchange, standardized engineering information management and a full audit trail.
Big data takes this further by consolidating data from a wide variety of sources in a single system. This includes using data that may have previously been considered “dead” to some extent from which value can be extracted.
The Benefits of Big Engineering Data
A Big Engineering Data solution combines all asset-related information in a standardized system. This reduces information management costs and provides a single point of truth.
Engineering data from multiple sites and sources can be further enriched through creation of tag-doc relations which link all related information to an asset for quick access. This enables integration with Enterprise Asset Management systems like SAP PM and IBM Maximo.
Big data analytics provides you with different views on global information. This helps to unlock new business opportunities across multiple sites and identify areas for optimization.
In real terms, this means improved decision-making based on a greater volume of accurate data and awareness of previously hidden trends. For example, in an unplanned event, risk can be mitigated when a vast amount of data can be easily analyzed for a timely decision.
A Bigger World, a Brighter Future
Imagine being able to easily drill down in a single part used in multiple sites and then compare its performance in different conditions, or compare the project hours needed by different teams to maintain it and the documents they would need.
Imagine being able to zoom in to an asset and zoom out to see its global performance, then apply best practices from one site to another – all within the same system.
It’s possible with BlueCielo.
Not convinced? Find out what the big deal is about Big Data for Engineering