ASEAN

The Importance of Data Readiness in Promoting Asset Monitoring

Asset monitoring is the process of tracking physical assets remotely using special hardware and software. Asset monitoring solutions based on IoT technology provide accurate real-time information on an asset’s name, location, and status, help schedule maintenance, and notify managers about asset failures. With the usage of asset monitoring, firms are now able to further digitise their process.  

However, as enterprises’ databases grow bigger, there can be a number of threats that can affect the reliability of the database. As such, maintaining data readiness remains crucial for all enterprises in order to ensure that the database can cope with its exponential growth. 

As part of the Annual AIBP Enterprise Innovation Awards held since 2017, we were happy to host the 2022 Award finalists from EVN Ho Chi Minh City (EVNHCMC) (Vietnam), PT AKR Corporindo Tbk. (Indonesia) and Tenaga Nasional Berhad (Malaysia).

EVNHCMC (Vietnam) shared about their Smart Grid Initiative; more specifically, how the team has implemented unmanned and digital substations and remote control centres to monitor and ensure supply reliability. Similarly, PT AKR Corporindo Tbk. (Indonesia) shared about the implementation of Digital Distribution Planning and Monitoring Tool Project to regulate and monitor their stock and inventory levels. Tenaga Nasional Berhad (Malaysia) joined the session to share about their digitalisation of asset registration to ensure transparent transactions on all stock tools between the warehouse and Tools Coordinator (TC) at the station. 

In the discussion session, we explored the importance of data management, as well as the importance of data readiness in fueling transformation and growth within an enterprise. According to AIBP’s 2021 ASEAN Enterprise Innovation Survey, 85% of ASEAN enterprises indicated that their organisations manage data as a business asset. Likewise, 88% of ASEAN enterprises believed that there is room for improvement for better data management systems. This shows that even though the majority of enterprises in the region were aware of the power that data management harnesses, an even higher proportion of them believed that current data management and monitoring systems could be further improved. 

Data Trust Scores: Providing Visibility into the Reliability of Datasets

During the discussion, Jimmy Kwang, Regional Vice President of Sales, Asia, Talend, raised the potential issue of data cleanliness and consistency, and how these factors can adversely impact the usefulness of the data gathered. Jimmy pinpointed the importance of choosing the right set of data to work with, in order to drive the desired results, and how data trust score can be a potential metric that enterprises can use to assess the level of confidence in which the data can drive the desired outcomes.

More specifically, Jimmy shared a case study from Juniper Networks – whose updated Apstra software aims to unify experiences across vendors and automate key data centre workflows as the single source of truth for data centre configuration. This provides firms with a reliable and organised data lake, which will improve data’s reliability and accessibility and ensure that correct data will be accessed and utilised to drive the desired results of the enterprise. As a result, this will then help address the issue of data cleanliness and consistency that firms may encounter, especially when the enterprise’s database grows progressively larger.

Continuing the Conversations on Data

With the ever-growing need for firms to utilise reliable and useful data into daily operations and monitoring, it is essential that firms’ data remain ready and resilient to new challenges and threats. Be part of our Discussions as AIBP looks to address these key themes:

  • How are financial institutions driving financial inclusion with data analytics?
  • How are enterprises and government agencies in the region building sustainable and resilient data governance? 
  • How are manufacturers maintaining data resiliency to overcome disruptions in the digital era?

Join us at:

  • 17th & 18th October, Royale Chulan Kuala Lumpur, Kuala Lumpur, Malaysia
  • 1st & 2nd November, Ritz Carlton Mega Kuningan, Jakarta, Indonesia
  • 15th & 16th November, Marriott Manila, Manila, Philippines
  • 29th & 30th November, Conrad Bangkok, Bangkok, Thailand

Speakers include:

  • Dr Ir. Ismail, Director General of Spectrum Management and Standardisation of Posts and ICT, KOMINFO
  • Atty. Ivin Ronald D.M. Alzona, Executive Director, National Privacy Commission
  • Dr. Lisa Patvivatsiri, Chief Operating Officer & Business Transformation, Thai Group Holdings
  • Sam Majid, Chief Technology and Innovation Officer, Malaysia Communications and Multimedia Commission (MCMC)

Contact us at [email protected] if you are interested to get more information about the AIBP Conferences & Exhibitions, or Sign Up for an account at https://iotbusiness-platform.com/my-account/ to be part of the enterprise digitalisation ecosystem.

AIBP

3 October 2022