The Rise of Maritime Analytics
The shipping industry is embracing new technologies and concepts like maritime analytics to improve efficiency, reduce costs and enhance safety. Maritime analytics involves collecting and analysing vast amounts of data from ships, ports, terminals and other sources to gain valuable insights. As the volume of data grows exponentially, maritime analytics is poised to transform the way businesses in the shipping ecosystem operate.
Data is the New Oil
Data has often been referred to as the new oil and the shipping industry generates a tremendous amount of it every day. Data is generated from ships' sensors and machinery, port call data, weather reports, cargo handling records and more. Advanced analytics applied to this data holds the key to optimize operations, streamline processes and facilitate better decision making. However, harnessing the power of data requires accessing it from diverse sources, amalgamating it and converting it into actionable insights. This is where maritime analytics solutions come into play.
Applications of Maritime Analytics
Maritime Analytics finds applications across different functions like fleet optimization, predictive maintenance, route optimization, supply chain management and more. Let's explore some key areas:
Fleet Optimization
Shipping companies can leverage analytics to optimize fleet deployment and vessel scheduling. Route recommendations based on historical and real-time data can help minimize fuel consumption and emissions. Predictive analytics aids in demand forecasting and optimal fleet sizing. Fleet managers gain full visibility of vessel performance to enhance productivity.
Predictive Maintenance
Machinery on ships generates troves of sensor data that provides clues about equipment health. Through predictive maintenance techniques, maritime analytics identifies equipment issues before they cause failures or unplanned downtime. This allows addressing repairs proactively through optimized maintenance schedules. It significantly reduces repair costs and avoids delays.
Route Optimization
Weather routing services utilize meteorological and oceanographic data to simulate routes and recommend the most fuel-efficient paths. Advanced algorithms factor in multiple parameters to optimize voyage plans on a continuous basis. This can lower bunker consumption substantially and cut costs and emissions considerably.
Supply Chain Optimization
Port call records, cargo tracking details and other transactional information aid in developing digital twins of marine logistics networks. Analytics enhances end-to-end visibility and coordination across complex global supply chains. It helps identify bottlenecks, allocate resources optimally and expedite flow of goods. This elevates service reliability and customer experience.
Role of Big Data and AI
The huge volumes of dispersed data generated in shipping makes it well-suited for techniques like machine learning and deep learning. Big data platforms ingest data streams from diverse sources like IoT sensors, mobile devices, servers and applications in varied formats. AI algorithms then autonomously detect patterns, build predictive models and offer recommendations. This cognitive capability of maritime analytics systems is a key driver of their popularity. The intelligence augmented by AI enables gaining insights far beyond human capabilities alone.
Data Security and Compliance
While maritime analytics unlocks tremendous business value, data privacy and security are also significant considerations. Shipping companies must comply with regulations like GDPR for handling customer and crew PII properly. Enterprise-grade analytics platforms employ robust access controls, encryption, auditing and policy-based governance to maintain data confidentiality, integrity and availability. Adopting a ‘privacy by design’ approach assures regulatory compliance without compromising on analytical insights.
Enhancing Safety and Sustainability
Maritime analytics is helping shipping chart a sustainable future by leveraging insights for emission reductions, alternative fuel adoption and efficient operations. Predictive route optimization tools aid IMO's goal to curb GHG emissions per cargo ton-mile by 40% by 2030. Insights from digital fleet performance management drive continuous improvements across emission hotspots like main engines and auxiliary systems. Combined with big data, AI is also advancing computer vision solutions for autonomous ships and smart ports of future.
Get More Insights on Maritime Analytics
According to the new market research report by IndustryARC titled “Big Data Market in Food & Beverages Industry,By Type (Products, Software & Services); By Application (Precision Agriculture, Customer & Supplier Analytics, Quality Control, Smart supply chain, Demand forcasting, Waste & Spoilage control & Food safety) -Forecast (2018-2023)” the market will be driven by growing number of food and beverage retailers.
To access the full report, click the link below:https://industryarc.com/Report/17922/big-data-market-in-food-beverages-industry.htmlNorth America will dominate the Big Data Market in Food & Beverages Industry:North America will dominate the Big Data Market in Food & Beverage industry due to presence of food and beverage industries which use big data analytics in the region.
Big data insights are used to analyse these changes and predict the quality of the food.Selected Driving Factors Mentioned in the Full Report:Increasing demand from consumers to know better about their food will drive the growth of the Big Data Market in food & beverage industry.
Big Data Market in Smarter Citieshttps://industryarc.com/Report/17921/big-data-market-in-smarter-cities.htmlB.
Big Data Market with Focus on Supply Chain Managementhttps://industryarc.com/Report/71/Big-Data-Market-in-Supply-Chain-Management.htmlThe Big Data Market in Food & Beverages Industry is Segmented as Indicated Below:Usage of data analytics tools for understanding customer preferences to serve the right products will drive the demand for the Big Data Market in Food & Beverages Industry.
Deloitte Touche Tohmatsu Limited 5.
Humans have produced 18 zettabytes of data till now(1 zettabyte=1 billion terabytes).
The figure is going to rise further with the onset of IoT devices.
According to a report by IDC, the number of IoT devices is going to reach 41.6 billion by 2025.
Businesses today are leveraging the benefit of Big data to their advantage by either analyzing the data sets themselves or by opting for an efficient service provider from the list of Big Data Analytics companies for hire.In this article, we shall get to know some basics about Big Data and also see how, through ‘SALES’, you can get the most out of Big Data.
