24 February 2021

Why RightShip is working with a “data shared is data enhanced” mindset  

In this article, RightShip’s CEO Steen Lund explains our approach to data in 2021, and why it benefits the entire industry when we share our data assets to create real-time insights.

At RightShip we are fortunate to have sourced some of the most comprehensive data sets in the maritime industry. However, we know there is more we can do to make our insights more effective for the industry. In 2021, we are strengthening our capacity to make even better use of our data, with a particular focus on the impact of real-time agility.  

Before we do this, we are developing a strategy that enables us to share our own data while also benefiting from data shared by other businesses, associations, government organisations and more.  

 

Benefits of data sharing 

The sharing of data between organisations was taking place well before sophisticated digital networks existed. But in recent years we have seen the positive impact of technological advances as well as legal frameworks that help progressive businesses share data with great speed, accuracy and security. This opens up many opportunities to combine data asset banks for the greatest possible impact.  

We are already doing this well, with nearly 2000 vets and 120 GHG verifications completed since our new Platform launched on Feb 8, which is the result of statistical analysis of our own data, coupled with external sources. 

This year we will work closely with the Paris MOU. In the past, we have not accessed this data. “We now have an agreement that within the coming months we will start to receive it. Our first priority will be to automate the ingestion of this data so that we can make good use of it,” says RightShip CEO Steen Lund.  

We know that data sharing has several benefits. Firstly, but pooling data from a variety of sources, we increase the value of our data through cross-checking and validation of insights. The vast amount of information gives us to complete more accurate research and development and in turn provide the industry with better products and recommendations. 

Secondly, we now have the technology to ensure data exchange systems are secure, reliable and that these transactions take place within a legally binding construct, minimising any concerns about privacy.  

In addition, data-sharing has intrinsic economic and human value. The maritime industry as a whole has a combined capacity to develop data-based solutions to many of our current challenges. Making better use of insights enables us to manage safer, more efficient supply chains, and with this efficiency comes improved financial outcomes for businesses.  

 

The impact of real-time analysis  

We have a great appetite to ingest data in a live manner. We are expanding our data warehousing capabilities so that we have the ability to do this,” Steen explains.  

He highlights data from external sources such as the US Coastguard. “There is an API that exists, and we are not making use of it. We want to bring it to an almost live state, and minimise the manual work of our superintendents,” he adds.  

 

Maritime data is limitless  

Sharing data is a two-way street. We are developing agreements with more data providers that can help us to enhance our existing offering and build new services. But we are also working to provide our data to more outlets that may benefit.  

There are few aspects of maritime that are untouched by data, from sanctions to inspections and sustainability, we are well-placed to develop solutions to support the whole sector if we are prepared to share knowledge, insights and key learnings.  

  

To enquire about RightShip’s data sharing, contact us:info@rightship.com 

 

 

Subscribe to our news

Stay up to date with RightShip’s projects and innovation

LATEST ARTICLES
Close Close dialog icon