A study undertaken by subsurface software company Seequent has found that eight in ten mining geoprofessionals consider data management to be of high or critical importance for their organisations.
A third of respondents, however, said they lacked the information needed to make crucial data-driven decisions.
The findings of the study were announced this week and are contained in Seequent’s latest 'Geoprofessionals Data Management Report', which looks at the trends, challenges and opportunities in subsurface data.
“As datasets become larger and more complex, organisations are turning towards faster, more reliable and smarter ways to manage and analyse their data. We hope the Geoprofessionals Data Management Report provides some key insights for mining organisations, which they can apply to their business,” Seequent chief customer officer Jo Knight says.
More than 700 geoprofessionals across industries that work in the subsurface responded to the survey, including 296 mining professionals. Other respondents included those from the civil, energy and environment sectors.
The findings revealed that, since 2020, there has been a noticeable increase in the adoption of emerging technologies. Specifically, 64% of geoprofessionals reported either using or considering the use of data science scripting, advanced analytics, machine learning or artificial intelligence (AI).
Additionally, 39% of these professionals are currently using or considering the implementation of more than one of these technologies.
Regarding the future of data management, the prevailing sentiment is that AI and automation will play a crucial role in streamlining processes and enhancing efficiency and accuracy.
Further, cloud adoption is expected to facilitate real-time collaboration and synchronisation across platforms, offering significant benefits to the affected industries.
On average, about 22 individuals reported to be actively interacting with their respective organisations' subsurface data. However, despite the substantial number of personnel involved, 65% of organisations lack an established framework for governing data collection, analysis and safeguarding. This framework is commonly referred to as the "data chain of custody framework."
Within the mining sector specifically, 61% of mining entities reported not having a data management framework in place, which is deemed essential for their operations. Nevertheless, 53% of respondents from the mining industry are planning to develop one within the next three years.
Moreover, only 26% of mining organisations expressed feeling "very ready" to leverage the potential of cloud technology. The main reasons cited for hesitancy in cloud adoption are concerns about security and cost implications.
“The insights we have gathered provide a fascinating picture of the data challenges facing the mining industry. Clearly, the industry needs to tackle its lack of data-driven decision-making to maximise performance.
"There is some work to do to educate the mining industry about the cloud, as the cloud is a cost-effective and secure solution that can help mining organisations transform their data management and collaboration. The adoption of emerging technologies will also be really important for the future of the industry,” Seequent exploration and resource management director Rob Ferguson explains.