DATA MANAGEMENT Mine smarter with digital technology
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Hello friends, how are you all? Come on everyone is fine. I wish you all the best. Welcome to today's blog from TechPark. I hope you will be able to know and learn something new from my blog today. Let's start the discussion in detail.Advanced use of data systgns can gwe mmng companies eHe ctüe oversight of the Ait ire operation talled or declining raw mate- rial growth rates; higher extraction and production costs; and commodity prices at his- toric h•ws have created an economic rollercoaster that seems to be per- manently going downhill. Added to the economic challenges are tighter legislative restrictions and increased safety, environmental and local com- munity concerns.
Consequently, most min- ing executües are hold- ing on tight, simply try- ing to surGve the plunge while "'onder- ing when the cycle will begin to reverse. Unfor- tunately, it may be a while. According to Philip Hopwood, global leader for mining at Deloitte and Touche, cycle times are getting longer, which means that it could take years to adjust to current mar- ket forces. Amid the gloom, hcn.v- ever, there could be a silver lining. Many of the mining systems cur- rently in place were developed dur- ing times of high output. Consistent revenue growth made it possible to overlook inefficient production processes. Today, hcn.vever, mining executives are re-evaluating nearly every aspect of their operations in the hopes of uncovering new cost- saving or revenue-generating opportunities.
Fortunately, the advent of data- based technology solutions have matured to a point where they can be used by anyone for operational insights never before possible. Making use of these new technol- ogies is changing the game, driving substantial improvements in opera- tional efficiencies fmm automation and real-time planning, to total workforce management and more. nwving beyond legacy systems to mine smarter, not harder. Mining companies are becoming connected, digital enterprises. Using data as a platform, they are able to: • Make better real-time, data- driven decisions;
• Make operations more auto- mated, predictable and agile; ard •
Transform traditional labour work- ers into knowledge workers. TURNING DATA INTO ACTION Innwative mining companies are uncovering exciting new ways to use newly available information to streamline their operations. More specifically, the mining industry is using data-based insights to: Maintain asset uptime Today's assets such as excavators and grinding mills could be more intelligent thanks to embedded soft- ware and analytics that that can diagnose their health in real-time. Assets serd information about their status and trigger alerts when a machine or part may soon be in need of repair or replacement, such as when the steel balls inside a grinder are wearing out.
Sewice technicians then can be dispatched to resolve the issue before it results in dcnvntime and maintenance can be scheduled when it will cause the least disruption. Taken another step further, asset information can also be blended with historical data or information from other locations to predict pos- Sible malfunctions or identify difficult maintenance issues.
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