Digitalization and Data Management
Treating data as an asset
Digitalization is one of the top priorities in DNV GL’s 2020 strategy. It can be split into three main categories: the efficiency and agility of our own operations, digitalizing our services and service delivery to customers, and completely new revenue streams and business models.
Using drones for inspections, moving our software to the cloud and digitalizing our auditing processes are just some of the many initiatives that accelerated the digitalization of our own operations in the past year.
In addition to digitalizing our own operations, we continued digitalizing services to our customers. We introduced smart survey booking and e-certificates for our maritime customers and continued to push for a more modern and data-driven classification concept. Our Business Assurance customers saw their DNV GL issued certificates being powered by a private blockchain to increase their traceability, validation and security.
Across all our business areas, we continuously offered customers new ways of accessing, processing and visualizing data captured by DNV GL through audits, surveys, inspections, software and advisory services. Examples included services such as MyQRA, the Lumina benchmarking portal and digital twins, just to mention a few.
The launch of the Veracity industry data platform in 2017 represented a completely new business model for DNV GL. Veracity is an open industry data platform, with a marketplace where applications and data sets from DNV GL and other companies are made available to owners and operators of ships, rigs, wind farms, pipelines and other industry assets. Customers are offered an ecosystem for controlling, combining and enriching data and for securely sharing their data with third parties for analysis and insights to optimize performance, efficiency and safety.
An integral part of undergoing a digital transformation is the realization that data is a valuable asset in itself and should be treated as such. Improving data management and data quality increases the value of data assets, just as effective financial management optimizes the value of fiscal assets.
Data assets will generate new revenue streams and improve value, utilization, control and costs when combined with other assets. A key driver is also to be compliant with new European data regulations such as General Data Protection Regulation (GDPR) for personal data, with standards for data/information security and the Sarbanes–Oxley Act for transparency, trust and openness.
We are not only working on applying this internally. We also offer services related to all of these aspects for our customers, including certification of Information Security Management System according to the ISO 27001 standard.
In 2017, we launched standards, frameworks, tools and services relating to data management and data quality, thus helping our customers, and ourselves, obtain the best value from data assets. In order to enable the reuse of data and provide trustworthy analytics or reliable automation of advanced industrial operations, the data must meet high quality expectations.
Our experience with data quality assessments has been built through many years of providing quality assurance related to ships, oil rigs, smart grids, processes, software, products, and organizations. The methodology and experience obtained from this work were used to build a portfolio of data management services.
We have also developed a broad offering to help our customers manage the security of their data and information systems. In 2017, we continued to expand our recommended practices and services enabling our customers to manage cyber security risks. New capabilities are being built for automation of processes, shortening of decision lead-time and increased ability to create value for our customers.