Just 12% of maritime leaders say they are utilising big data - Sea Asia survey

Of the ceos, chairman and directors of maritime and offshore companies surveyed just 12% said that were currently compiling, analysing and storing big data.

This was despite 77% seeing potential benefits from big data from real time information on vessel performance, and 70% seeing this as providing cost savings for their company.

As to what was holding companies back from utilising big data, 63% cited a lack access, 50% a need for more skilled professionals, while 83% highlighted a need for more training of current employees.

Oh Bee Lock, head of group technology for terminal operator PSA International, commented: “The next step must be for us to prepare the industry to fully integrate big data analytics into the working environment. We need to look into developing the skills of our current workforce to ensure that there are professionals who are trained to collect and use the large amounts of data in the industry, and make it more interesting for dig data professionals to join the industry.

“Only with a competent set of professionals can the opportunities provided by big data be leveraged effectively,” he added.

Big data will be one of the topics highlighted during the Sea Asia 2017 panel session - The Fourth Industrial Revolution: Threat or Opportunity – at which Oh will be a speaker.

Also joining Oh on the panel will be Oskar Levander, vice president of innovation – marine at Rolls-Royce.

“Big Data has the potential to change and disrupt the maritime sector, changing the way services are offered and allowing new players with new and different skills sets to enter the market. The evolution of technology means that the competitive landscape for the maritime industry is also changing quickly,” Levander said.

“It is therefore crucial for the industry to come together and collaborate with one another and the government to accelerate innovation, improve processes and create value. This will help us navigate challenges to come.”

Looking ahead to the panel session Chris Hayman, chairman of Seatrade commented: “Some of the key discussions that will be taking place at Sea Asia 2017 include conversations around the utilisation of Big Data and smart shipping technologies. At the ‘The Fourth Industrial Revolution: Threat or Opportunity’ session, we will delve into how technology and innovation can be leveraged as strategies for the maritime industry to move forward amidst today’s challenges.”

Sea Asia 2017 is co-organiser by Seatrade and the Singapore Maritime Foundation and will be held in Singapore at the Marina Bay Sands from 25-27 April 2017.