Rio Tinto today announced that it will expand its mining operations beyond digging resources like iron ore, copper and coal out of the ground, to mining vast volumes of data too.
The company launched the Analytics Excellence Centre in Pune, India, to crunch massive amounts of data collected by sensors attached to equipment at its operations around the world.
“The Centre will help us predict the future through the use of advanced data analytic techniques to pinpoint with incredible accuracy the operating performance of our equipment,” explains Rio Tinto group executive for technology and innovation, Greg Lilleyman, in this media release.
“Our aim is to run more efficient, smarter and safer mining operations and provide greater shareholder returns.”
Data mining has been around for a while and is the process used to simplify and summarize data. This normally involves collecting and storing data in giant databases and then using powerful computers to search for patterns and anomalies. We can then make predictions about new situations based on what we learned from the data. (more…)