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DNV GL builds Veracity data platform

DNV GL is launching a new industry data platform called ‘Veracity’, being built in collaboration with Microsoft Azure and other companies, which is designed to help improve data quality and management, and facilitate connections between data owners and users.

{mprestriction ids="1,2"}“As a classification society it is vital for us to always be exploring ways we can help our industry to leverage new technologies to improve the safety and productivity of their assets,” said Knut Ørbeck-Nilssen, CEO DNV GL – Maritime.

“Today that means being out in front of digitalisation and the vast amount of data being produced and gathered on vessels by advanced sensor technology and interconnected systems. Our industry data platform Veracity will enable connections between multiple stakeholders and data sets, thereby creating new and innovative solutions.”

“This will give us a platform where our customers can integrate their data, quality assure the data, secure it, and offer controlled access to DNV GL or other providers to run analytics on the data. Individual data sets can be enriched with other, industry wide data sets, providing benchmarks, new and richer insights and analytics.”

The company suggests that the data platform could be used, for example, to document compliance of main onboard machinery and systems through predictive analytics, removing the need for calendar based inspections.

Veracity was used in one of its first pilot projects by a drilling operator on a project to explore predictive analytics with a components vendor and an analytics services company. An analysis of the data revealed severe quality issues that none of the partners were previously aware of. Once the data was quality assured, machine learning algorithms could be applied to the data.

“The potential for using data more smartly in our industries is enormous. Companies have always turned to us for independent, expert assessments and best practices – to build trust in the safety, efficiency and sustainability of their physical assets or operations,” said Remi Eriksen, president and CEO of DNV GL.

“Now, we are exercising this same role in the digital domain with our Veracity industry data platform, designed to help companies leverage the ever-increasing amount of data. We are not looking to own data, but rather to unlock, qualify, combine and prepare data for analytics and benchmarking.”{/mprestriction}

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