Big Data in Mining and Resources
Why this industry pioneers in applying the 5Vs of Big Data
Big Data in the Mining Industry
Australia is known to have an abundant supply of minerals, making them the world’s largest exporter of black coal, iron ore, alumina, lead and zinc. Despite the pandemic, the mining industry contributed a total of 10.4% GDP last 2019 to 2020 in Australia’s economy.
The Mining Industry has a major role in the world. They are the ones who discover minerals that are the foundation of everything we use, from modern technologies, houses, roads, cars to food and beauty products.
Using Big Data, scientists can study closely every mineral they get. They can determine if it is already in existence or if it is a discovery. It is also a great help in finding new minerals, which can be a substantial factor in a new invention. Additionally, machine manufacturers innovate their technologies through testing and analysing the data they obtain.
Big Data is a core part of every mining industry. Without it, it would be difficult to invent new products, discover earth resources, improve efficiency, and boost consumer satisfaction. Applying Big Data’s 5Vs principles, let’s examine how the resources and mining industry lead the way in using data.
The mining industry has an enormous volume of data stored and secured on a daily basis. With the proper usage of Big Data, the mining process would be much more efficient and productive. For instance, locating an area to spot new and existing minerals, a very significant stage in mining operations. Geologists make use of various data such as mapping and sample results to identify the best place to perform mining operations. From there, the project can move forward to the next steps.
Big Data is the backbone of every decision an organisation makes. It can be for exploration, production, and operation. The speed at which the data is processed is very important in obtaining the necessary data to achieve smart innovation. For instance, Caterpillar has the 798 AC Electric Drive Truck that focuses on efficient hauling. It has a detection system where the operators can install cameras and radar to be alert when there are hazards. It also provides proximity warnings and avoidance zones. This system is composed of critical data, which is processed in real-time to give accurate alerts for the safety of operators.
Mining companies accumulate a variety of data from multiple sources. It can be equipment scheduled repair, inventories, geologic models, and so on. If this diverse data is managed accordingly, it would be beneficial in monitoring the mining activity and improving the productivity and efficiency of the mining operations, which are substantial factors in driving the corporation to success. For instance, Caterpillar is one of the leading mining equipment manufacturers that develops autonomous-ready trucks like the 798 AC. The 798 AC has a command for hauling systems that haul to dump points and report for maintenance. It aims to help improve the overall productivity of mining operations while reducing costs. With the use of Big Data, many manufacturers continue to produce equipment that supports mining companies in improving their overall productivity and profitability.
In the Mining industry, credible and accurate data is essential. Exploration being the first crucial step in mining operation, the thoroughly checked and validated data should be the only basis, along with geologists’ experiences and knowledge in discovering new minerals. Sometimes, the experiences and knowledge are not enough without geological mapping. Geological mapping provides comprehensive information about the composition and structure of geologic materials at the Earth’s surface. Through this, it would be much easier to perform mining operations without ruining the planet.
Big Data plays a vital role in decision making for most companies, including the mining industry. Obtaining, managing, and analysing a diverse range of credible data helps them improve business operations and safety protocols for the miners, increase equipment reliability as well as efficiency, productivity, safety, and sustainability. All these will lead to a huge positive impact throughout the mining industry and other big industries that support it.