Data as the New Oil –How will you choose to refine...
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Data as the New Oil – How will you choose to refine it? Alex Herceg, P. Eng. Analyst Digital Transformation of Industry June 1, 2017
Transcript of Data as the New Oil –How will you choose to refine...
Data as the New Oil – How will you choose to refine it?
Alex Herceg, P. Eng.
Analyst
Digital Transformation of Industry
June 1, 2017
Source: US EIA
Data is the new oil, and it’s messy
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Source: Galp Energia
What is the opportunity?
Agenda
The elephant in the room: the problem with Digital tools
Case studies of success in Industrial IoTData visibility
Data opportunity
Summary
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Digitization is not uniform across industries
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25%
21%
16%
6%
6%
6%
5%
5%4%3%
2%1%
LES Attendees 2017 (by Industry)
Chemicals & Materials Other
Energy & Environment Consumer Packaged Goods
Healthcare & Life Sciences Oil and Gas
Electronics & IT Diversified Industrials
Professional Services Investment/Banking
Automotive Aerospace & Defense Source: McKinsey Global Institute
Data visibility Data opportunity
Digital Toolbox Spotlight: 2016 was the year of the IoT platform
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Defining the data journey – the IoT solution stack
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Data
visibility
• Devices
• Connectivity
• Applications
• Analytics
Data
opportunity
Refining
Extraction
Agenda
The elephant in the room: the problem with Digital tools
Case studies of success in Industrial IoTData visibility
Data opportunity
Summary
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Energy
• Electricity and other fuels• Cost = $3/ft2 per year
Facilities
• Real estate procurement• Cost = $30/ft2 per year
People
• Human capital• Cost = $300/ft2 per year
Finding the high value use cases: Commercial buildings
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Case Study: Sensing and ConnectivityLoad disaggregation
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“Energy efficiency is an expectation, not a disruption” – Lux
Research, 2015
Case Study: Applications and AnalyticsPredictive maintenance
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Reactive Maintenance
Preventative Maintenance
Predictive Maintenance (PdM)
Source: Space-Time Insight
Agenda
The elephant in the room: the problem with Digital tools
Case studies of success in Industrial IoTData visibility
Data opportunity
Summary
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Data is the new oil – it is up to you to choose how to refine it
Digital adoption is not uniform across industries.
IoT platforms are the new Supermajors of Digital, encompassing sensing, connectivity, applications, and analytics.
Data is like oil – it varies in cost and effort of extraction.
Extract the data in the most cost effective way possible, and use this to guide the price of the tools (sensors and connectivity) you need
Start with opportunity. Bring vertical-specific expertise to understand how you can leverage the data for maximal impact
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Refining
Extraction
Lux Research Inc. 100 Franklin Street, 8th Floor Boston, MA 02110 USA Phone: +1 617 502 5300 Fax: +1 617 502 5301 www.luxresearchinc.com
Thank you
Alex Herceg, P. [email protected]+31(0)20 387538
