There are increasing economic and environmental incentives for ship owners and operators to develop tools to optimise operational decisions, particularly with the aim of reducing fuel consumption and/or maximising profit.
Examples include real time operational optimisation, maintenance triggers and evaluating technological interventions.
Performance monitoring is also relevant to fault analysis, charter party analysis, vessel benchmarking and to better inform policy decisions.
The ship onboard systems and systems in which they operate are complex and it’s common for data modelling and analysis techniques to be employed to help extract trends.
All datasets and modelling procedures have an inherent uncertainty and to aid the decision maker, the uncertainty can be quantified in order to fully understand the economic risk of a decision.
An unacceptable risk requires further investment in data quality and data analysis techniques.
The data acquisition hardware, processing and modelling techniques together comprise the data acquisition strategy.