Many countries employ non-financial assets, such as water, wastewater, road, rail infrastructure and more, worth 457 billion dollars, but taking the necessary decision to deploy an asset is not enough. Failing to maintain and utilise those assets to their near-zero functional levels can lead to losing copious amounts of state-funded spending, losing public trust and imposing threats to the natural resources and community well being too. This is why countries require a wider-ranged lens to look at asset problems, and there is no better holistic view than generating one from the perspective of space.
Satellite technologies have allowed asset managers to tailor asset fact models for non-financial assets that forecast risks, proactively monitor and control assets with realistic and scientifically-proven understanding. Read this article to learn how satellite technologies facilitate large-scale asset managers in engineering, deploying, calibrating, managing, maintaining and overhauling expansive capital asset networks under a single screen.
Why is SatelliteTechnology Important in Asset Management?
Unlike traditional data forms, satellite data enables reliable, accurate and timely information that allows seamless asset monitoring and inspection. EO-information Systems and Satellite Imagery Analytics empowered geospatial analytics to deploy strategically, control and maintain assets and predict the impending risks of assets.
Here are a few instances of how Satellite Data helps asset managers in making event-driven decisions.
Deploy Risk Mitigation Plans to Protect Assets During Natural Disaster and Threats
Hard-to-reach Asset Monitoring
Movable Asset Tracking
Satellite technology not only tracks assets but also the wildlife, natural resources and other remote environmental phenomena that can impact the sustenance, performance and upheaval of asset conditions and structures. It can help asset managers keep track of herds of beasts like (buffalo, elephants etc.) and flocks of birds and other animals that can be impacted by asset operations and take the necessary precautions to control the operational strategies to be away from the harm of and protect the wildlife.
Satellite Technologies be A Generic Asset Management Approach in The Future?
Also, on the other end, satellite companies are now investing a lot in edge analytics, and especially on nanosatellites with edge analytics capabilities that provide exclusive analytics capacities for assets owned by asset-dependent companies. These technological innovations will allow asset owners to agilely and self-reliantly make informed asset decisions despite the changing structural and conditional needs of the assets. In the next generation, the shared effort of satellite companies, governmental establishments and private asset owners will eventually be brought down to a user-reliant system with the adoption of edge analytics. This technological breakthrough will save satellite-driven asset data analytics time and enable faster, reliable and automated insights on asset and risk management. Thus, making satellite technologies a generic asset management approach in the near future.