| |October 201919Steven Littlee find ourselves in a world where data (and hence methods of col-lating and storing data) is or is on the verge of becom-ing, the foundation in all areas in which we operate. Whether we like it or not, we are moving to space where we trace routes through data and build knowledge and solutions out of it. This thirst for knowl-edge, and expectation that the knowledge is `real-time' and immediate has driven an explosion of technological enhancement, including the infrastructure to sup-port and power it. In the context of Asset Manage-ment, however, we must guard against being sub-merged in noise.Techniques, technolo-gies, and applications ap-pear everywhere we turn: digital transformation, Inter-net of Things (IoT),artificial intelligence, digital twins, real-time data, remote monitoring, augmented intelligence,virtual real-ity, algorithmic analysis, laser scan-ning and point clouds, Building In-formation Modelling (BIM)- for the full asset life cycle from inception and design phase through to asset dispos-al - mobile data collection,predictive analytics, and 3D modelling, to name a few.We are being inundated with these new technologies on a daily basis, in industry journals, attending annual industry conferences or CPD events, in discussions with clients and colleagues, and on social media. To some, it will be exciting, invigorating and required, whilst to others it will be overwhelming and confusing. These techniques, technologies, and applications are here to stay and will be developed and expanded. They can undoubtedly provide ef-fective solutions and subsequent in-creased value to an organization in its pursuit of delivering effective asset management. The purpose of utiliz-CHANGING THE STATUS QUO ­ HOW DATA AND TECHNOLOGY ARE AFFECTING ASSET MANAGEMENTBy Steven Little BSc. (Hons) FRICS MIAM, WYG Group, Director ­ Surveying and Asset ManagementW CXO INSIGHTS
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