Eddie Amos of Juniper Networks spoke to Meridium Conference 2012 attendees about the potential opportunities relating to big data. Big data is growing more and more as time goes on. As an example, every day 4 billion new things are added to Facebook. The world of data coursing through the internet added up to 5.3 zettabytes (5.3 trillion gigabytes) in 2011.
From mapping the human genome to inproved Google searches, the world is moving toward taking advantage of this big data. This is done through analysis. The medical field analyzes human genomes to discover the genetic root cause of diseases. Producers of jet engines monitor the readings of 16 sensors within the engine in order to drive improvements and innovations (companies have discovered that a 1% improvement in efficiency based on changes driven by the sensor readings will ultimately result of billions of dollars of benefit).
By using analysis, like those used in tools like APM software, companies benefit. In the world of asset performance management and elsewhere, analysis provides companies with the ability to:
1. Enable the world to be definable and predictable
2. Capture the power of man and machine by leveraging technology and work processes
3. Transform trash into treasure, cutting out waste and getting use out of previously unusable sources (hidden plant)
The keys to success with big data are technology, processes, and algorithm. For greater analysis capabilities in reliability, maintenance, and process safety, click here.