In digital operations data is the new currency. The shipping industry is beginning to embrace the opportunities provided by technical, engineering data that allows condition based maintenance, eco-ship efficiency and engine health monitoring, but the data opportunity is far wider.
Smart collection and analysis of massive commercial datasets are driving transparency across the industry creating disruptive start-ups that promise to erode margin and disintermediate established maritime service providers. At the same time incumbent shipping and maritime companies may be sitting on exhaust data ripe for monetisation via new, multi-sided business models.
The growing importance of data is seeing IT transform its fundamental mission, transitioning away from traditional support functions and becoming a strategic driver at the heart of the business. As evidence-based decision making replaces gut-feel and technology deployment drives competitive advantage, how ready is shipping to capitalise on this new paradigm?
Held in association with Inmarsat.