DNV GL's Data Management Platform Approaches Milestone

DNV GL’s data management platform, Veracity, is closing in on a million service subscriptions as users from 1,500 different companies access multiple products on the marketplace.  

Veracity acts as a safe ecosystem for companies to manage their big data where users can store data and access analytical tools or other standalone digital services. There are almost 150 services offered on the marketplace from both DNV GL and external providers and that number is growing with a recent flurry of additions from companies operating in the oil & gas, renewables and maritime sectors as well as new specialized data analysis tools that cover all industries.

From its launch in February 2017 to the middle of April this year the platform’s full range of services have been restricted to a selected number of clients but it has now transitioned to the ‘public preview’ phase, allowing  customers to start using/exploring the advanced data sharing functionality (also known as the Data Fabric). Even with these limitations, 900,000 services have been subscribed to by 120,000 active users (many of whom previously used the portal My DNV GL).

 “The strong take-up of services on Veracity is indicative of a hunger in many industries for solutions which explore and create value from data,” says Remi Eriksen, Group CEO and President of DNV GL. “Our partners value DNV GL’s trust position and our emphasis on safety, and together with the strong framework provided by Microsoft Azure and our own technical expertise, the platform is delivering real value for the 1,500 companies that are already using it.”

A number of new providers and services have recently been added to the marketplace or will soon come online, including:

•      A tool by SteelCorr which coordinates complex industrial painting projects by using Veracity as the common platform which also encourages the standardizing of data.
•      ScanReach’s In:Reach solution which uses wireless technology onboard ships to transmit the location of crew, giving an instant overview of personnel during an emergency.  
•     DNV GL’s Resource Compass gives customers access to long term wind and solar data.
•      The previously announced AGR tool which contains information on 80,000 oil & gas wells.

As well as the different services offered in the marketplace, DNV GL expects strong growth in Veracity Data Fabric components which connects customer’s data with analytical tools. Arundo Analytics recently joined the platform to offer enterprise-scale industrial data science solutions.

Bjørn Tore Markussen, Head of Veracity at DNV GL says, “There is no panacea that will automatically create value from big data, which is why we have put an emphasis on making Veracity an ecosystem where companies can tap into relevant platform features and connect with each other. The buzz around the Industrial Internet of Things (IIoT) and big data often neglects that companies require both cost efficient digital infrastructure and the necessary tools to interact with customers and suppliers effectively. Veracity, however, is becoming the place to meet these digital aspirations.”

For more than 150 years DNV GL has been an independent voice in the industries it operates in and the company is using the same approach to Veracity. The owner and provider of the data maintains full control of their data, unlike some other emerging platforms, and Veracity enables the safe access to third party services. 

Veracity will continue in the public preview phase before entering general availability later this year. DNV GL will continue to verify the design and functionality of these elements of the platform, and explore how value can be best created for asset owners and analytic providers.