The Internet of Things (IoT) remains nebulous and under-utilised for many asset management companies. Here, Dr Carla Boehl, Principal Consultant at SNC-Lavalin, demonstrates how IoT can transform a business’s asset management operations.
Ahead of her presentation, Transforming from Mechanical to Cyber-Experience, at the Asset Management for Critical Infrastructure conference, 12-13 September in Sydney, Dr Boehl explores how the Internet of Things has changed modern asset management strategies.
“IoT allows asset managers to move away from a sole reliance on inspection-based modelling techniques to the use of real-time data to support decision making.”
The unprecedented accuracy of data produced by IoT devices offers huge benefits to companies in the infrastructure industry, who can use the information to improve the reliability, availability, and cost of maintenance for assets.
Implementation will not come without challenges, however. Dr Boehl explains that asset managers may struggle to revise their management and maintenance practices to best employ the data created by IoT devices.
“Data is useless if it is not utilised. Utilising data means a reengineering of the internal business processes to support the effective use of data to drive asset performance outcomes.”
One way that asset managers can use IoT data to great effect is through the creation of a “digital twin”, whereby data capture from technologies such as drones, 3D sonar, and thermal imagery combine to form a highly accurate 3D environment of an asset. The result is a “transformation of data into insight”.
“The generated ‘digital twin’ can be used to test critical paths for the construction, installation, modification, or decommissioning of projects. It helps us understand the existing asset condition and improve the design approach, and it provides a digital snapshot for future works.”
How can the Internet of Things enhance asset management for your company?
Hear more from Dr Carla Boehl about the potential impact of IoT on your company in her presentation at Asset Management for Critical Infrastructure, running from 12-13 September at the Swissôtel in Sydney.
For more information or to register visit assetmanagementevent.com.au.