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NETWORK / 33 / MAY 2019 university students. Data analytics was considered as a method of testing new technology and busi- ness models, with one participant stating it was important for the industry to seriously consider what it wants to achieve before asking analytics firms for information. Digitisation In the closing stages of the roundtable, delegates were asked to consider the role of digitisation in asset management and how digitalised asset management can be used to help networks. One said: "Any sort of digital capability should be targeted at improving how we manage our assets, it's as simple as that. Whether it's the risk side or maximising the value if we're getting more bang for our buck effectively in operating our network – that is what it is about." They added that while networks and utility providers have always had data and information to hand there is now more of it than ever before and it is "flowing faster". Another said digitisation is encourag - ing the cooperation of non-traditional data sources. "As a sector for a long time we thought the only data that had validity was what we collected ourselves," they added. As a final question, delegates were asked to think of one thing they believe could ad - vance asset management in the short term. One said they thought more collabo- ration was needed, another agreed but added the industry needed more tools and processes in order to be able to collaborate effectively and enable the decision making that organisations need. Another said the sector needs to "reclaim and be proud" of the discipline of asset management. "I don't think it's become a dirty word at all but it's not recognised and respected as much as it should be as a discipline in our sector." One said that when considering this topic they thought it was important to distinguish between the terms "managing assets" and "asset management". "To some extent it doesn't really matter as long as we know what we are talking about when we are talking about it," they said. Another added: "From my perspective where there is a huge potential for digitisa - tion in the asset management space it's starting to increase the recognition of data as an asset. I know that term is used a lot but it's something I really believe in. We haven't recognised the full potential of the data we hold." Views from the speakers: "It's about putting value to the benefits. Some of the benefits, I think, are difficult to quantify." Virginia Ferreras Alvarez, network planning and regulation, SP Energy Networks. "It's not always about the data, it's what you do with it, it's the models you put in place and how you interpret them." David McKay, director of asset management and operations, SSEN Transmission. "I think if you go back to the aerospace model, if you are doing as they do – just in time services, that to me will help companies to drive down their Opex. I think there is some value to be had in OEMs working far more collaboratively with network operators." Steve Goldspink, head of customer services, Siemens. "I think what the sectors have done recently is systematised the approach to assessing risk and what that allows is a more mechanical assessment of trade- offs." Jonathan Booth, head of asset management, Electricity North West. "We are very good on occasion of just creating data and collecting it for data's sake, we need to understand what insights we want to gain from it and have the capabilities to extract, process and ingest that data in whatever way may be necessary to make sure that it's improving, optimising and enhancing our asset management decision making." Matt Webb, head of asset information, UK Power Networks. In association with: