If your business is like most businesses, you collect tons of data. Unfortunately, you may not be collecting the most important data. That missing data creates missing profits. Because data drives business value and is used strategically to make business decisions, optimal data management is crucial to your success.
In addition, data management capabilities are often inaccessible to the people in your company who need them most. Not surprisingly, the average executive is not running database queries to pull their own data.
Companies often have large disparate data sets spread across multiple legacy systems. Legacy systems generally don’t provide the reporting capabilities needed to draw actionable insights from the data. Sadly, many companies are forced to employ high-cost consultants to interpret their own data.
Also, administration, storage, development, server and other costs can become prohibitively expensive. This is especially true when your infrastructure is not built to scale.
Even worse, data collection often isn’t timely. How do you address cost overruns, product issues, profitability concerns or customer problems proactively when it takes days, weeks or months to compile data?
Besides that, data is often overwhelming, requiring substantial internal resources to manage, migrate and massage the data, let alone do anything meaningful with it. Since time is money, the longer it takes to get actionable data, the more it costs.
The Key to Data Success
Most importantly, having good data management practices in place makes predictions about future events possible and helps them become statistically validated through predictive analytics. This validation enables insights into problems and opportunities BEFORE they happen.
It’s up to you to start getting the right information at the right time to the right people through sound data management. Your business will thank you.
Data Management Case Study – Cochran Marine
About Cochran Marine
Cochran Marine designs, builds, installs and maintains short power infrastructure for the passenger cruise line industry that reduces environmental impact, increases port/ship safety and decreases operational costs for powering ships while they’re in port.
- Cochran Marine is a wholly owned subsidiary of Cochran, Inc., a large electrical subcontractor headquartered in Seattle, Washington
- The subsidiary spun off after identification of a market opportunity in the shore power industry for major passenger cruise lines and port authorities
- Cochran Marine’s short power technology reduces carbon footprint significantly and as a result helps ports and ships operate more safely, economically and environmentally friendly
- The company’s shore power infrastructure is in nearly every major US port and also in additional ports all over the world
- Cochran Marine grew its operation from passenger cruise lines to the broader commercial sea transportation market
As you can imagine, Cochran Marine’s shore power system generates a significant amount of data from multiple sources. Thus, a reliable way to collect, manage, analyze and review electrical distribution data is mandatory. Among other things, the data includes temperature readings, electrical output, and issues/events. In addition, the system must promptly notify appropriate individuals of activity.
About the Challenge
- Integrate with hardware and data from external partners and clients
- Identify the potential for certain events through predictive analysis and make key partners aware of the events
- Provide automated data management for the connection and disconnection of ports
- Handle simultaneous connections from ports worldwide and from ships across the passenger cruise line and commercial sea transportation industries
- Platform must scale quickly and reliably
The Cochran Marine Shore Power Database provides robust data management and hardware monitoring capabilities while delivering data science insights to the Cochran Marine team. In support of these functions, the data management system provides graphical and numeric-based output ranging from real-time event reporting to on-demand historic analysis to key customers, team members and other stakeholders.
About the Software
- Constant uptime, connection, and disconnection monitoring
- Provides automated event reporting with email notifications
- Data software interfaces directly with hardware
- Customizable reporting with detailed drill down capabilities
- Secure system with customizable user management and permissions to allow partners, vendors, clients, team members
- Real-time data analytics with predictive insights and reporting
Jaroop worked with key team members, visited the ports, and met with the hardware vendors in our efforts to support Cochran Marine. Over time, Jaroop grew into a key partner for Cochran Marine, developing the software that cost-effectively helps Cochran overcome its challenge and be in a position to confidently scale the business and deliver value to its customers.
Software Development Client Results
- Cochran demonstrates industry-leading reliability. To this end, data records in real-time, including all ship connections and disconnections (99.998% uptime in 4 years)
- The software applies predictive analytics to detect anomalies in the data and transmits timely reports to key operators at the port
- Cochran experiences cost savings as a result of the new system. Data management, analysis and short power reporting tasks that took multiple full-time employees to manage are now done automatically by the system
- The company benefits from environmental savings differentiation. Because Cochran now tracks environmental impact, sales traction when working with port authorities has increased dramatically