ARC Advisory Group

Managing Operational Risk Needs Data in Context – on Any Device

Blog Post created by ARC Advisory Group on Jun 8, 2017

Due to the complex, energy-intensive, and potentially hazardous and environmentally sensitive nature of most downstream petroleum refining, petrochemical, and chemical manufacturing processes and facilities, these sectors have traditionally relied upon automation and other operational technology (OT).  In recent decades, much of this investment has shifted to operational risk management software applications that reside above the control layer and to information technology (IT); with gradually increasing convergence between the OT and IT domains.

Operational data tends to be scattered throughout multiple disparate information sources, both real-time and transactional in nature. Typical systems of record include process historians, lab systems, work order management systems, asset information system, inventory management systems, operator logs, and plant asset management systems.  Increasingly, IIoT-connected smart devices and applications represent additional disparate data sources.

 

A clear understanding of operational risk requires insights into many of these systems with the underlying data in context. Workers and staff are too busy to establish and create this context using conventional historian tools. Organizing this data from multiple sources and providing context is complex, but essential. Industrial IoT adds more sources of information and more complexity to the data available to analyze different operational problems.

 

There is a clear trend to provide plant personnel with better decision-support tools to improve plant performance and better manage operational risk.  Industry leaders understand the need to make operational information available to authorized personnel in context, anywhere, on any device, anytime, and for any valid purpose.

On Thursday, June 15, 10:00 am CDT, I will be participating in a webinar with Siemens. Together we will explore how Industrial IoT and advanced technologies can help mitigate challenges faced by the process industries.  Please register for this webinar here.

 

“Reprinted with permission, original blog was posted here”. You may also visit here for more such insights on the digital transformation of industry.

 About ARC Advisory Group (www.arcweb.com): Founded in 1986, ARC Advisory Group is a Boston based leading technology research and advisory firm for industry and infrastructure.

For further information or to provide feedback on this article, please contact lkanickaraj@arcweb.com

 About the Author:

Peter Reynolds

Contributing Analyst

As a Contributing Analyst at ARC, Peter performs research into and consults with clients on technology areas such as process and asset optimization,  digital transformation for industrial manufacturers.

Peter is a Contributing Analyst with ARC Advisory Group a global research and advisory firm headquartered in Boston USA. Peter performs research into and consults with clients on process and technology areas such as process optimization, asset performance management, and data analytics. He brings more than 25 years of professional experience as an Oil and Gas subject matter expert. 

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