Harnessing Data and Analytics to Improve Operations and Reduce Costs
Forward-thinking mine operators are experiencing a wealth of benefits through digital transformation. Today, operators must contend with vast amounts of data from many different sources and systems, including mining equipment, vehicles, communication equipment, production management software, fleet management software, maintenance management systems, security management systems, and many others.
The inability to access accurate data from all of these sources in real time, and to visualize the data easily and in a consistent format, creates significant risk and operational costs. In fact, experts estimate that between 2 and 3% of total operational costs are lost each year due to a lack of accurate, real-time visibility of heterogeneous assets and data.
In addition, successful digital transformation initiatives enable and improve worker safety, provide real-time situational awareness and alerting, and allow predictive analytics to detect unsafe environments or prevent accidents from happening.
Recently, the World Economic Forum Report on Digital Transformation Initiatives in the Mining and Metals Industry reported that digital transformation is poised to affect the industry1 in 4 key areas.
- Automation, robotics and operational hardware. Deploying digitally enabled hardware tools to perform or improve activities that have traditionally been carried out manually or with human-controlled machinery.
- Digitally enabled workforce. Using connected mobility and virtual and augmented reality to empower field, remote and centralized workers in real time.
- Integrated enterprise, platforms and ecosystems. Linking operations, IT layers and devices or systems that are currently separate.
- Next-generation analytics and decision support. Leveraging algorithms and artificial intelligence to process data from sources within and beyond the traditional value chain to provide real-time decision support and future projections.
InterSystems IRIS for Mining is next-generation digital transformation software for mining operators that works seamlessly with your existing machinery and software to:
- Connect, integrate, and transform data and real-time signals from existing equipment and applications to provide an accurate, consistent, and real-time view across silos with customizable and interactive dashboards.
- Deliver real-time, customizable Key Performance Indicators (KPIs) including Overall Equipment Effectiveness (OEE), and real-time alerts as data levels and KPIs approach pre-defined thresholds.
- Perform a wide range of analytics, including business intelligence, predictive analytics, machine learning, and more, with high performance data management and analytics capabilities and access to any and all production data.
According to the World Economic Forum, digital transformation initiatives will generate:
- More than $320 billion of industry value over the next decade for the mining and metals industry, equivalent to 7% of industry revenue and 9% of industry profit.
- A reduction of 610 million tons of CO2 emissions with an estimated value to society and the environment of $30 billion.
- An improvement in safety, with a 10% decrease in lives lost and a 20% decrease in injuries.
Digital transformation is poised to revolutionize the mining industry. Are you ready?
Established in 1978, InterSystems is the leading provider of data technology for extremely critical data in healthcare, manufacturing and mining, finance, and supply chain and other industries. Its cloud-first data platforms solve scalability, interoperability, and speed problems for large organizations around the globe. InterSystems is committed to excellence through its award-winning, 24×7 support for customers and partners in more than 80 countries. Privately held and headquartered in Cambridge, Massachusetts, InterSystems has 25 offices worldwide.