21 April, 2021

Data Analytics in the World of Sustainability

Climate change has become a major part of global risks, affecting every country, and disrupting economies and natural habitats. Even though some damage is irreversible, it is still possible, with the use of a wide variety of technological measures, to control the increase in temperature globally.

Addressing environmental concerns and operating in a sustainable manner is becoming increasingly important to businesses as they adapt and contribute to the growing governmental and societal drive for sustainable development.

Big data has the power to transform how businesses with environmental impacts and access to large volumes of information, can take meaningful action towards sustainability.

Recent advances in data gathering, global connectivity and computational power mean that humans have more information than ever before at our disposal. It is estimated by IBM that by 2020 there was about 300 times more information in the world than there was in 2005 – a total of 43tn gigabytes. There are innumerable possibilities which arise from the proper utilization of this data.

We are only just starting to understand how businesses can process and analyse all this additional information to help them make efficient business decisions and become more sustainable.

ADVANTAGES OF DATA ANALYTICS

Big data can generate useful insights that can help foster environmental sustainability. One of the key advantages of data analytics lies in its ability to help industries understand and act on the environmental impacts of their operations. This process can lead to knowledge that can improve decision making, refine goals and focus efforts. Previously, this information was dispersed across multiple platforms and in different formats. Businesses are now trying to make out the end-to-end impact of their entire operation.

Data analytics has also proven useful in optimizing resource usage thus providing a more efficient and sustainable means of operations. Even minor improvements in efficiency due to resource optimization can result in big savings and a lessened environmental impact. Data analytics can be used to anticipate supply and demand, which in turn can be used by business to resource their needs in advance at a more competitive price. Business can also utilize big data to analyse past performance against current progress and provide valuable insights for future sustainability initiatives.

Methane, like CO2, is released from natural and man-made sources. Methane, while emitted in lower quantities than CO2, has a far higher potential to cause global warming. It is estimated that 10% – 20% of global greenhouse gas emissions is contributed by methane gas.

Identifying and addressing emissions is recognized as a key element in reducing overall greenhouse gas emissions. Big data provides a unique opportunity for the operators to identify and manage the problem areas which experience the highest emission of greenhouse gases.

AIE’s CONTRIBUTION

AIE’s environmental management software, Veracity EMS, provides users with an online platform to store, trend, retrieve and visualize a large variety of environmental monitoring parameters.

The data fed into the software is compared against pre-set KPIs and the user is automatically notified if there are any excursions to allow for real time data monitoring.

Veracity EMS forms an integral part of the operator’s sustainability management system, with its structure and design fully compliant with best practice engineering standards.

To learn more about Veracity EMS, click here.

To request a free demo, contact us.

AIE is one of the leading companies in the MENA region, which are providing a range of innovative sustainability services, driven by data analytics, to the oil and gas, power generation and nuclear industries. AIE provides clients with specialists who are experienced in incorporating and integrating sustainability practices, which includes identification and reduction of green-house gas emission, into business management processes in an efficient and effective manner.

REFERENCES

Hsu, J. (2014, Jan 31). Why big data will have a big impact on sustainability. Retrieved from The Guardian: https://www.theguardian.com/sustainable-business/big-data-impact-sustainable-business

Writer, C. S. (2016, Jun 16). IBM forecasts Deep Thunder with machine learning & big data. Retrieved from TechMonitor: https://techmonitor.ai/techonology/data/ibm-forecasts-deep-thunder-with-machine-learning-big-data-4924838

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