Automating Data Driven Decisions for Asset Management – A How to Framework for Integrating OT/IT Operational and Information Technology, Procedures and Staff

Author(s):  
Anastasia Kuusk ◽  
Jing Gao
2020 ◽  
Vol 5 (3) ◽  
pp. 29
Author(s):  
David Kite ◽  
Giulia Siino ◽  
Matthew Audley

The British railway system is the oldest in the world. Most railway embankments are aged around 150 years old and the percentage of disruption reports that feature them is frequently higher than other types of railway infrastructure. Remarkable works have been done to understand embankment deterioration and develop asset modelling. Nevertheless, they do not represent a sufficient way of managing assets in detail. As a result, reactive approaches combined with proactive ones would improve the whole asset management scenario. To guarantee good system performance, geotechnical asset management (GAM) aims to reduce uncertainty through informed, data driven decisions and optimisation of resources. GAM approaches are cost sensitive. Thus, data driven approaches that utilize existing resources are highly prized. Track geometry data has been routinely collected by Network Rail, over many years, to identify track defects and subsequently plan track maintenance interventions. Additionally, in 2018 Network Rail commissioned AECOM to undertake a study, described in this paper, to investigate the use of track geometry data in the detection of embankment instabilities. In this study, track geometry data for over 1800 embankments were processed and parameters offering the best correlation with embankment movements were identified and used by an algorithm to generate an embankment instability metric. The study successfully demonstrated that the instability of railway embankments is clearly visible in track geometry data and the metric gives an indication of the worsening of track geometry, that is likely due to embankment instability.


Author(s):  
Alberto Giovannini

The financial system is one of the primary users of information technology, which in recent decades has experienced phenomenal progress. This chapter discusses how information and communication technology has changed the financial system, and what policy challenges arise from the interactions of information technology progress and financial innovation. I focus on the asset management and banking industries. In the case of asset management, progress in information technology has partially transformed the industry, and potentially made it more efficient. In the case of banking, the industry has been changed profoundly, has grown significantly, but at the same time it has become more fragile. The chapter discusses the implications of these phenomena for policymaking.


Author(s):  
H.V. Jagadish ◽  
Julia Stoyanovich ◽  
Bill Howe

The COVID-19 pandemic is compelling us to make crucial data-driven decisions quickly, bringing together diverse and unreliable sources of information without the usual quality control mechanisms we may employ. These decisions are consequential at multiple levels: they can inform local, state and national government policy, be used to schedule access to physical resources such as elevators and workspaces within an organization, and inform contact tracing and quarantine actions for individuals. In all these cases, significant inequities are likely to arise, and to be propagated and reinforced by data-driven decision systems. In this article, we propose a framework, called FIDES, for surfacing and reasoning about data equity in these systems.


2021 ◽  
pp. 026638212110619
Author(s):  
Sharon Richardson

During the past two decades, there have been a number of breakthroughs in the fields of data science and artificial intelligence, made possible by advanced machine learning algorithms trained through access to massive volumes of data. However, their adoption and use in real-world applications remains a challenge. This paper posits that a key limitation in making AI applicable has been a failure to modernise the theoretical frameworks needed to evaluate and adopt outcomes. Such a need was anticipated with the arrival of the digital computer in the 1950s but has remained unrealised. This paper reviews how the field of data science emerged and led to rapid breakthroughs in algorithms underpinning research into artificial intelligence. It then discusses the contextual framework now needed to advance the use of AI in real-world decisions that impact human lives and livelihoods.


BWK ENERGIE. ◽  
2021 ◽  
Vol 73 (3-4) ◽  
pp. 9-11
Author(s):  
Michael Lefèvre ◽  
Stefanie Mollemeier

Bei Netzbetreibern liegt ein Schlüssel zum Unternehmenserfolg im Asset Management und in Netzserviceprozessen. Stefanie Mollemeier, Geschäftsführerin beim IT-Unternehmen Mettenmeier und Michael Lefèvre, Leiter der Geschäftseinheit CeGIT (Center for Grid Information Technology) im Geschäftsbereich CityNetworks & Grids beim Multitechnik-Dienstleister Spie Deutschland & Zentraleuropa berichten, wie ihre gemeinschaftlich entwickelte „AM Suite“ die Geschäftsprozesse rund um die Instandhaltung und das Störungsmanagement nachhaltig unterstützt.


2014 ◽  
Vol 3 (1) ◽  
pp. 29-32
Author(s):  
Stacy Warner ◽  
Emily S. Sparvero

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