DNV GL is launching a new industry data platform – “Veracity” – to help the maritime industry improve its profitability and explore new business models through digitalisation.
The Veracity industry data platform is designed to help companies improve data quality and manage the ownership, security, sharing and use of data. By creating connections between data owners and users, the platform will create new opportunities for improving ship performance and safety, while at the same time reducing operational costs.
Using the Data Produced
DNV GL wants to be 'out in front of digitalisation and the vast amount of data being produced and gathered on vessels by advanced sensor technology and interconnected systems, says Knut Ørbeck-Nilssen, CEO DNV GL – Maritime. 'Veracity will enable connections between multiple stakeholders and data sets, thereby creating new and innovative solutions. […] Individual data sets can be enriched with other, industry wide data sets, providing benchmarks, new and richer insights and analytics.'
Predictive Analytics
One area where the maritime industry can benefit from the Veracity data platform could be the documentation of main onboard machinery and systems through predictive analytics, removing the need for calendar based inspections.
In one of DNV GL's first pilot projects a drilling operator embarked on a project to explore predictive analytics with a components vendor and an analytics services company. Working with DNV GL to see if this approach could gain class approval, an analysis of the data revealed severe quality issues that none of the partners were previously aware of. Once the data was quality assured, machine learning algorithms could be applied to the data with success.
A key learning from the project was that it demonstrated the need for continuous data management and quality assurance to reap the benefits of a data driven approach.
