YMS Manages Risks Evolutionarily
25th July 2016 -
Risk prevention or reduction is related to the company's ability to manage it – analyze threats, evaluate them and take action to minimize their impacts. YMS intelligent solutions help optimally solve normal enterprise operations, including risks. We can mention several examples. Foresters from Forests of the Slovak Republic (FSR) mapped the wind calamity Zofia using a new geographic information system (GIS). Geologists from the State Geological Institute of Dionyz Stur (SGIDS) analyzed the landslides in Vratna with airborne laser scanning. Gasmen from the gas company Eustream locate risk areas on the Slovak transport pipeline using a risk management module yPipe.
Recent YMS systems contain accurate information about a current state and size of individual threats. They assess risk levels through simulation models which specialists create based on practical experience. “However, current development and technology availability open to us new opportunities. Thanks to the Internet of Things (Internet of Things, IoT) we will be able to monitor a wide spectrum of properties in near real time. We get a huge amount of data that we can process with Machine Learning technology. We discover previously unknown context and links, which will help us, in connection with historical data, to respond to situations even before they happen,” describes important innovation benefits Radovan Sunega, YMS Director for Research and Innovation Projects
Processing of Big Data, terabytes of data, is a challenge for current hardware. An even more difficult task is data interpretation. Big Data analyses are provided by Business intelligence platforms which ensure that outputs are read easily and strongly support management. “Machine Learning looks for dependence between data. If we link it with our technical and geospatial solutions or traffic (within the concept of Smart City) and warning systems, then we can predict when, where and how likely the risk occurs. For example, we will identify areas which are currently threatened by floods, avalanches, landslides or forest calamities and we will be able to determine their negative impact,” talks about the practical application of new technology Radovan Sunega.
It is obvious that there are many possibilities how to use these technologies and approaches. Many experts have agreed that the IoT is a new technology revolution, which will affect all human activity areas in the near future. We realize that our systems enriched by IoT opportunities will bring to our customers more efficient management and administration. “Except application in the industry, we also see great benefits for systems that help to protect and keep the environment. Using data from monitoring in combination with the power of our systems helps us to identify the sources of pollution or check the state of sensitive ecosystems, such as wetlands. We have powerful new tools in our hands and we are ready to use them correctly,” conclude Radovan Sunega.
Illustration photo: YMS, FSR and Eustream.