Connected 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?
There is no doubt that COVID-19 has brought challenges to every aspect of our lives. In the professional arena, many of us are now working from remotely and for those employed in the asset management sector, this fact can usher in a set of unique circumstances when managing asset portfolios. Completing inspection reports, presenting analysis and findings, and developing maintenance strategies all from the home office.
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The coronavirus has caused an explosion in the use of social media platforms, and particularly software programs that have a videoconferencing option.
As more and more of us are remaining indoors, following advice to #stayhome, the way we connect with our work colleagues for critical business functions, as well as our friends and extended family members has been via these platforms.
Today’s financial market requires businesses to improve productivity and asset performance with less resources and capital. This will come as no surprise to anyone in the business world, and it’s fair to say that this understanding is universal. The problem of implementing it as an asset management strategy is another story altogether.
Many organisations don’t associate the inability to achieve asset management goals with a clear, whole-of-business understanding of asset condition and performance. Asset management connects assets, strategies, people and information to enable a clear view of operations, maintenance, perceived risk, and future condition of physical assets.
In our fourth instalment on data this month, we have a look at how data quality can build trust.
You may remember the previous article on data related to Google and the case brought against them by ACCC, who alleges the digital powerhouse has been less than honest with the public about what they do with our personal data. If you didn’t read it, check it out. It is a prime example of how data inaccuracies or ambivalent disclosures can break the trust of your customers.