Data in Asset Management

Chair

Julian Watts

Data in Asset ManagementChair Associate Director
KPMG

datadConnected assets are not new. Already, we have connected assets: in our schools, hospitals, businesses, media and politics. Laptops, smart phones, tablets and other IoT devices mean that more than ever, we can connect with people all around the world. But what if we could use our digital know-how and transform our communities to become connected environments and eco-systems1?

 

Delegates at the Asset Management Council’s recent Virtual Data Forum heard about this digital reality in a presentation by Ms Rita Arrigo, Chief Digital Adviser at Microsoft Australia. Ms Arrigo spoke about the transformation of our current connected assets to connected environments and even further, to the future of connected eco-systems.

In today’s world connectivity is crucial to sharing and leveraging information and in asset management, building value for the business. And it’s true that many organisations are already leveraging data in areas such as decision-making, business objectives and asset management. But according to Mr Arrigo, the future is about working the data available to another level, fusing the physical with the digital.

Presently in asset management sector, the merging of the physical with digital is most commonly seen in predictive maintenance systems, whereby a business’s assets are fused with operations to equate to a new system. Many readers will be familiar with remote monitoring of assets, fault detection and auditing systems, all using the digital space to build value in the physical side of the business.

Ms Arrigo brought delegates into the future, however, with case studies that show businesses that have taken the leap from digital systems to AI design models, to digital twins, and onto how these concepts impact real-world assets. The future is all about connected assets transforming our community and work enviroments.

Were you present during Ms Arrigo’s presentation at the Virtual Data Forum? Let us know your thougths, and if you were motivated to employ new and future-focussed methods in your own asset management plans in your organisation.

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1 Information in this post sourced from ‘Transforming our Spaces and Assets with AI and the Digital Twin, by Rita Arrigo, Chief Digital Adviser, Microsoft Australia

 

 

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Contact the Chair:

Julian.Watts@amcouncil.com.au


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