Data is growing faster than ever before and it’s doubling in size every year. By 2020, our accumulated digital universe of data will reach 44 zettabytes, or 44 trillion gigabytes. This data can also be referred to as big data.
Big data describes a large volume of data, structured and unstructured, that may be difficult to process using traditional methods like data management tools. It can be hard to trust your data when there is such a vast amount of it. How do you find value in big data? While analyzing that data is a large part of it, asking the right questions, deriving patterns and insights, as well as making informed decisions is an important part of the process.
Big Data in Asset-Intensive Businesses
For asset-intensive businesses, big data refers to the asset and maintenance data in CMMS, EAM and other maintenance and operational systems. The massive amount of data makes it possible for companies to gain new insight into asset performance. However, asset-intensive businesses may struggle to keep their foundational asset data complete and accurate. As a result, their poor quality asset data may result in some serious data challenges. This may lead to inefficient productivity, where processes that rely on a well-maintained asset hierarchy become less effective. Another challenge is having disconnected systems, where EAM or CMMS, manufacturing, and production systems need to be maintained but are out of sync.
The Solution
How can you make sense of big data? The first most crucial step is ensuring that your foundational asset data is complete, accurate and well organized. This will ensure that any analytics completed on the data is reliable and well organized. Many asset-intensive companies may find it difficult to analyze the quality of asset and maintenance data in a production EAM or CMMS or other maintenance or operational system. We help our customers analyze and repair the quality of their asset and maintenance data, making identifying gaps in asset and maintenance data easier. We help you save 50% or more of the time and costs typically incurred during an asset data improvement project. Want to learn more? We offer personalized demos. Reach out today!
Sources:
https://www.emc.com/leadership/digital-universe/2014iview/executive-summary.htm
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