Data analysis has always been an art designed to get to the bottom of information sets to help businesses improve their services and output. But it was always with the understanding that the software used for analytics could only do so much in providing data and analysts would need to be a part of the process to understanding the data. Is this changing? Is analytics software becoming proactive? It is, so what does this mean for your shipyard? Here are some things you should know.
Artificial Intelligence
Data analytics has already made it to a stage that people refer to as prescriptive. That analysts can look at the data collected and determine based on the information the next steps. This is several stages beyond where analytics were in the past, but it has been improved by big data and the way we gather information.
The field is evolving once again and the next phase of analytics is proactive. This means that artificial intelligence will be utilized to allow the analytics to not only predict the next steps but initiate them.
Machine Learning
This new type of data analysis is motivated by machine learning. This is a method of data analysis that automates the process. It uses AI to allow the system to learn from the data that’s been collected, identify patterns, and make the same decisions previously made by human analysts.
This means the future of data can be driven entirely by machines with very little human intervention. This can, in theory, minimize mistakes.
Analytics in the Marine Industry
There has been a major increase in the use of digital technology throughout the maritime industry. This isn’t about to change any time soon. In fact, just as shipbuilding embraced the use of big data just a few years ago, increased use of AI and smart analytics is the future of the industry.
Machine learning can help the industry in real time including the detection of mechanical problems. These problems could be discovered in real time using 3D imaging. Machine learning could also provide data before a problem arises that can be corrected with maintenance.
Future of Analytics
So, what does this smart technology mean for the field of analytics, both inside and outside of the shipbuilding industry. Will data analysts be obsolete or will their contribution change to reflect the evolution of this technology?
While AI can process data at a much faster rate than their human counterparts, there are plenty of areas that still need the human touch. AI can make predictions and be proactive, but the lack the ability to determine context, which is essential for many business decisions.
Do you want to know more about proactive analytics in the marine industry? Contact the team at Hutco today.