Expert insights for leaders in the EPC sector
EPC projects generate stunning amounts of data. Yet, few organizations connect this in a way that drives performance. That’s where the concept of a digital thread comes in.
A digital thread is simply the ability to link data seamlessly across teams, tools, assets and workflows. When done well, it turns disconnected information into end-to-end visibility, faster insights and more predictable project outcomes.
But building that level of connectivity doesn’t happen overnight. To help leaders make meaningful progress, Lawrence Benson, vice president of portfolio strategy at Octave, offers these five pieces of advice to leaders in the sector:
1 - Eliminate legacy blind spots and move with purpose
“Best practices are vital for enhancing data visibility because, for example, some organizations are less advanced in their digital thread maturity than others. Part of what’s holding organizations back from increasing their digital thread maturity is that this really is a large endeavor – so where do you start? As a priority, legacy systems need to be addressed because older software systems and processes don’t provide the infrastructure for mature digital thread capabilities.”
“And this needs to go hand in hand with change management. The IT team can be doing a fantastic job at maintaining existing infrastructure but may not know the best route to creating the modern and robust digital backbone required for a digital thread. There will potentially be a lack of expertise in the business, and those gaps need to be quickly identified.”
2 – Plan your future state and choose tools that keep up
“What you need to avoid is investing in tools that will get you a little bit further but then realizing a couple of years later that they are now not able to achieve what the business needs. Think long-term and focus on the ideal end state you'd like to achieve, then select solutions capable of scaling with you as your digital thread maturity grows.
“With that wider vision in place, identify the shorter-term easy wins along the journey and Build momentum and excitement in the organization. When people see progress, it garners more enthusiasm for the next phase.”
3 - Leverage solutions that meet you where you are
“Wherever you are on your digital thread maturity journey, moving to the next phase requires partners and solutions that can meet you where you are. Extend on progress rather than discounting the investments that have already been made. Assess how your data can be connected to other systems, in a way that isn’t just point-to-point – bringing things together in an intelligent way.”
4 - Take a platform approach
“A keyway to build on what you have today and bring it all together is through the adoption of a platform-based architecture. This means that, instead of passing data from point solution to point solution, you have a connected ‘single pane of glass’ for data across all sources – so you can instantly access contextualized data from anywhere, analyze and share it. You want all your data to remain close to its sources, where it is authored, changed, kept accurate and up-to-date, and so on. But then you have your overarching platform that democratizes that data – making it instantly accessible to stakeholders from anywhere in the business.”
5 – Exploit AI with a mature core
“The most successful organizations have data they know they can rely on. It’s from a trusted source, in a trusted location, it’s comprehensive and up to date, and their digital thread makes it always available, from anywhere. Their next stage of maturity is exploiting AI. When the foundation is right, it’s not a daunting task to layer on AI tools that enable the exponential acceleration of data analysis – identifying anomalies and root causes and enabling fast decisions that improve all around operational efficiency.”
Taking the next step
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