NYK Receives Data Management Award
NYK received the grand award at Data Management 2024 hosted by the Japan Data Management Consortium (JDMC) on March 8.
JDMC established the Data Management Award in 2014 to publicize data management's role and importance and share pioneering know-how.
NYK has been developing and utilizing data lakes - a data management system for data utilization and analysis. They are suitable for collecting and storing vast amounts of data, regardless of the format or scale of the data to be stored.
NYK has developed and is utilizing a ship information management system that receives operation data from vessels every minute to prevent maritime accidents and improve operational efficiency.
NYK has been centralizing data concerning vessel movement, income, costs (charter rates, bunker oil consumption), cargo, and the like to develop a data lake for the shipping business. NYK also manages forward dealings on charter rates and bunker oil to improve the profitability of the shipping business, which tends to be affected by market fluctuations. Based on this accumulated data and the knowledge gained, NYK is also developing a GHG emissions simulator for energy-saving devices and operational optimization.
NYK has developed a data lake for itself and its consolidated subsidiaries for budgeting, performance aggregation, and analysis. In addition to simplifying the process, the data lake enables NYK to proactively utilize management indicators, such as ROIC, to improve management efficiency.
NYK is also working on sharing data and knowledge with other companies and government agencies. This includes maritime data sharing with the Japan Coast Guard which will use the data to improve the accuracy of water-current forecasting around Japan, contributing to safe navigation for ships.
The company is also developing its digital human resources by implementing a variety of programs, from developing business leaders who can use digital technology to publishing an in-house magazine online to disseminate basic information.
NYK Senior Managing Executive Officer Nobuhiro Kashima attended the ceremony to receive the award.