Collection of data across the maritime industry has proven to be unsatisfactory over the past few yeas. Considering the technological advances and development of IoT over the globe, different sectors have prospered towards greater success while maritime has been continuing its slow and trajected growth. The amount of data collected by the vessels, buoys, shipping companies, satellites, etc. can provide crucial and useful information. However, at present, it is proving to be utterly counterproductive. Most shipping companies either do not track or aren't able to keep a backlog of their data dating back more than 5 years. Predictive analysis on this type of data could provide the needed push that maritime needs to improve its sluggish productivity lines, reduce the overhaul times, and bring down the tremendous loss of cargo that are lost due to accidents and natural events. With the growing interconnection of marine logistics, information exchange across diverse stakeholders is important to ensure efficient supply chain processes and management. Electronic data interchange (EDI) has garnered considerable scholarly and commercial interest in the marine sector because of the potential to greatly increase the quality of data exchange and hence promote supply chain convergence.
Outcomes of the Session - An overview
Data gathered and evaluated during the ship's lifespan will be beneficial for future ship building advancements. Existing datasets might be used to evaluate the prospective vessel model without having to build it physically.
Public and private sectors needs to modify their customs and traditions to better suit the technological advancements in the industry to be able to ensure that revenue streams can deliver intended advantages.
If we are to gain from the benefits of new age technology, then we must also shift out corporative environment, keep an open mind towards modernization of the industry and shape our human resource, as needed through training and education, to better adapt to new innovations. There is a need to evaluate techniques and practices on small scale as well as extensively evaluating them in order to determine what works.
Developing a standard protocol
Authorities should be mindful that network models based on monopoly or oligopoly poses dangers such as lock-in, limited improvement, and vehemently anti-competitive attitudes. The notion of global standard protocols has the ability to overcome these challenges.
The below development prospects are as a result of the IMRC 2022 symposium sessions and protected by the IMRC team. If you are a researcher who wishes to pursue any project as part of your graduate thesis, undergraduate thesis, PhD, or profession, you can apply with IMRC to do the same.
To apply, email us your name, email ID, institute name, background, purpose, contact number along with a one-page synopsis on your project of choice. IMRC will vet all applications. Selected candidates will commence the project with full support of IMRC, registered ISSN publications and IMRC's industry partners.
Standard data collection and inventory systems
Expanding the existing technology at IMRC, we announce a project for a cloud based data collection platform for vast maritime information exchange. We would like to invite companies and individuals who would be willing to assist us in expanding Maritime's big data collection into a more beneficial asset in global operations. We will soon be releasing project details and partnership opportunities. Email us to register your interest at firstname.lastname@example.org.
Predictive Analysis Tool
The need of predictive analysis tools for risk assessment and budget forecasting for maritime corporations is growing at exponential rate. IMRC announces a project to develop generic and function-specific predictive analysis tools which will be available on a secure open platform for organizations to use and perform discreet analysis with their data. Email us to register your interest at email@example.com.