Saturday, 19 October 2019
Is ‘dirty’ data costing your business time and money?
Austmine Limited
/ Categories: Articles & Editorials

Is ‘dirty’ data costing your business time and money?

It’s time to clean up your act

Stop me if you’ve heard this one before …

You have a haphazard collection of reports sitting in front you that have to be systematically pieced together in order to create something useful. Often, they provide no more than a fragmented view of what’s actually going on.

It’s not only frustrating, it can cause irreparable damage to your business.

A mining company’s ability to efficiently collect and analyse data is widely acknowledged as the key to its success.

But incredibly, in 2019 the widespread use of a variety of spreadsheets for data storage is still alive and kicking in the mining industry.

Streams of “unpasteurised” data are received every second of every operating day from scores of different sources.

Not all data is created equal. It must be translated and cleansed.

Decisions based on dirty data can strike a heavy blow to the inner workings of your company – often costing valuable time and sometimes millions of dollars in lost revenue.

Dirty data can also have an adverse impact on thousands of people.

Therefore, it’s vital that the data you are using to generate essential reports is clean, trusted and validated.

In the 20 years Intov8 has been operating, we’ve never visited a mine site for the first time that delivers “clean” and “usable” data with 100% accuracy.

At the end of the day, the data you put in, is the data that comes out. Bad data = bad outcomes – and bad data can impact your entire organisation.

Building a single source of truth

You must have a data strategy to ensure all the pieces come together in one coherent, easy- to-understand report.

A single source of truth is a report compiled from a variety of results, all of which work together to form one clear picture. This report is key to analysing your data and making sound business decisions from it.

That means your data must be connected through one source – a trusted translation layer that connects the entire mining operation – from the weather station to plant control, management and maintenance systems.

How to identify bad data

The first step is to ensure all the data in your system speaks the same language.

The system must be equipped with remediation tools that can immediately identify incompatible data, providing directions on how to fix it.

The data is then trusted and validated allowing companies to make business decisions based on accurate information.

Operators have an instant snapshot of site operations as all data is processed simultaneously, in real time.

Great data can result in significant time savings, boosting productivity and profitability.

But simply collecting or even aggregating data isn’t enough. The amount of data doesn’t matter – it’s what you do with the data that counts.

Businesses must have the right tools and systems to be able to extract, store, analyse, manage and protect their data.

That’s where Intov8 can help.

Our Corvus Axiom software has been developed by miners for miners.

This revolutionary data management software solution automates and analyses mining production systems.

It connects directly with your existing fleet and plant monitoring systems, bringing multiple sources of information together for powerful results.

You’ll get visibility over the data being reported and the ability to export to other business systems and software using purpose-built, Intov8-certified data access tools.

By linking data to your business process, you’ll be able to make decisions for improvement quickly and accurately.

Connecting data seamlessly

Software platforms like Intov8’s xConnect offer the ultimate data “translation” service. With xConnect, all data is seamlessly connected.

Data from a variety of different sources flows into the xConnect software and is converted into ONE simple language.

With xConnect supervisors and staff can work more efficiently – with less stress.

xConnect delivers immediate and measurable operational and financial benefits.

By now you should recognise that it’s not enough to just have a lot of data. You need to know how to measure it, sort it, and strategically utilise it.

Need some extra help?

Having a data strategy is vital to understanding your company, your customers, and your potential.

Remember, not all data is good data. Your company’s future depends on your ability to effectively gather and interpret information, so now is the best time to get started.

Changing bad data to good data should not be difficult, but it’s up to you – and it requires a data strategy.

If you need some help to create that strategy, Intov8 can help.

For more information contact:

Matthew Whyatt
Partner Development Manager
Intov8

P: +61 (0) 7 3493 5756 | M: 0405 177 542
E: Matthew.Whyatt@intov8.com.au

 

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