Yotta: Contemporary Approaches to Asset Management
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Nick Smee, CEO
Effective asset management relies heavily on high-quality data. For many years it was a lack of data that caused asset managers significant issue. Increasingly, asset managers are finding that they have too many sources of data, which can confuse and overwhelm their decision-making processes. This data is often kept in siloed systems or is generated from the Internet of Things enabled devices, both of which can lead to challenges of accessibility and choice. Traditionally asset management software companies have been slow to bring innovation to the market and reticent to upgrade established software. This increase in data sources and volumes has brought with it a challenge to this conservative market. The traditional systems are not capable of either consuming or enabling insight into these vast or disparately held data. Without those abilities, the increase in data does nothing but add confusion to the asset manager. Based in London, UK, Yotta, a leading global Connected Asset Management company, understood the gravity of the situation as well as realised that most of the data was too complex and was getting discarded instead of being used.
Formed in 2006 as a subsidiary of UK plc Oxford Metrics, Yotta initially captured information of the built environment using imaging technology based around highways and surrounding assets. Further addressing two big challenges of the demographic change in its user base and the quantity of data from the Internet of things, Yotta has provided customers with a set of tools—Alloy, which focuses on day-to-day operational asset management challenges and Horizons, which addresses the needs of longer-term asset life-cycles, to meet these challenges.
A global asset management software
solutions company specialising in
infrastructure asset management
through its various tools
Be it data captured through survey, traditional physical inspection, or sensor-enabled assets; these tools can create insight from different data sources. The systems are both cloud-based and are equipped with data visualisation, powerful workflow management, and analytical tools to enable the user to make improved decisions based upon any data made available to the software.
“Yotta prides itself in being seen as an innovation-led business that has a very strong focus on gaining insight from data. What we realised is that older technologies were just not capable of fulfilling our vision for the future of asset management. Increasingly, we see the need for connecting people, systems and assets and that can only be properly achieved with modern architectures”, says Nick Smee, CEO. With its approach, Yotta has invested heavily to build new tools using contemporary technologies to ensure its users can cope with an increasingly complex decision-making environment. By making it's software accessible and useful to both domain experts and senior decision-makers, Yotta helps its customers make the right decision at the right time about their infrastructure.
Warrington Borough Council implemented Yotta’s Horizons, which visualised asset management platforms to provide impact analysis, identify optimum planned maintenance budgets, produce evidence-based reporting, and develop forward programmes for approval. The council used Horizons to prove the business case for bid for extra government funding to maintain the valuable road network of approximately 710miles of roads having a total value of £744 million. Yotta has already worked with about 150 local UK authorities and also collaborated with major contractors in the UK and internationally including Balfour Beatty plc, Amey plc, and Fulton Hogan.
Starting off just as a data capture business to acquiring Mayrise in 2014, Yotta continuously strives by exploring new sources of data, developing powerful user experiences, or helping with investment planning to deliver services at the best possible value for money. With the motto of “data to decisions” and a culture driven by innovation, Yotta understands its customer’s needs and provides them with revolutionary solutions utilising its industry-leading software and consultancy services.