Operations become highly digitalised.
Over half of the mining organisations operating around the world consider themselves to be repeatable data-led companies on the organisational data maturity scale. The ability to capture, clean, and utilize data throughout operations enhances an organisation’s ability to implement new technology and track its performance. According to a study by IDC, this helps ensure the return on investment while enabling mining operations to be competitive.
“Mining organisations are increasingly looking to adopt digitally transformative strategies across the entire mining value chain as they look to remain competitive. These digital initiatives are forcing miners to look to more innovative projects which require more advanced infrastructure and talent as they provide highly specified insights into the operations to generate value. IDC’s results shine a positive light on the future of the digital mine as organisations strive for safe, sustainable, and efficient operations,” said Ben Kirkwood, Senior Research Manager, Worldwide Mining, IDC’s Energy Insights.
The study explores the current and future digital investment and adoption strategies of mining organizations of all sizes and major commodity types. The operations analysed are located all around the world and utilise above ground and underground mining methods. The report analyses data spending habits, business drivers and strategic objectives, data usage, and the implementation of advanced technologies.
The responses highlight an array of areas of concern as well as areas where businesses are targeting to improve. As the industry has struggled to cope with the pandemic over the past 18 months, miners turn to digital tools to assist with continuous site operation. This boosted IT spending, with 33.3 per cent of organisations saying they will look to increase spending on data in 2021. Additionally, 44.4 per cent of these mining organizations are seeing an increase in data analytics and 71 per cent are considering investing in 5G over the next 18 months.
This IDC study analyses the technology adoption maturity level of mining organizations while assessing requirements and challenges experienced by the industry. Through this analysis, organisations can identify the areas where they too should be targeting to improve their operational performance to ensure they remain competitive now and into the future.
IDC’s Worldwide Mining Strategies investigates the business environment across the mining sector value chain from exploration through to operations, processing, supply chain, and trading globally. The analysis insight provides actionable recommendations to assist organizations when identifying and developing transformative solutions for their business and operations. This service tracks the IT investment priorities for organisations seeking to scale value creation across their organisation and the impact on decision making and best practices relating to technology, process, and organisational change.