Asset Management System Using Multi-Source Data Consolidation
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Solution Overview
Problem
Current asset management systems in industries like construction often rely on outdated methods, such as pen and paper or outdated computing systems, leading to inefficiencies and inaccuracies in tracking assets, maintenance, and operation, which can result in increased costs and reduced operational efficiency due to unreliable location tracking and job reporting.
Innovation Solution
A system and method for providing asset management information by collecting data from multiple reporting sources, including GNSS receivers, and populating a database to generate comprehensive asset information reports, enabling real-time monitoring and maintenance scheduling, while also allowing for customized reporting and access management.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If multiple reporting sources are integrated into a centralized database system, then measurement precision and reliability of asset tracking improve, but device complexity increases
Solution Approach 1:
The patent combines multiple reporting sources (GNSS receivers, asset monitoring devices, job site devices) into a single centralized database system. This merging approach integrates data from various sources to provide comprehensive asset tracking and management, resolving the contradiction by achieving high measurement precision through data consolidation while managing system complexity through unified architecture.
Solution Approach 2:
The centralized database system serves multiple functions: tracking asset location, monitoring asset status, managing maintenance schedules, and providing reporting capabilities. This multi-functional approach allows the system to handle diverse data types from different reporting sources within a single platform, improving measurement precision across multiple parameters while avoiding the need for separate specialized systems.
2Productivity
If real-time monitoring and comprehensive reporting are implemented, then productivity and operational efficiency improve, but use of energy and computational resources increase
Solution Approach 1:
The system implements periodic data collection and reporting cycles rather than continuous real-time monitoring. Assets and job site devices report status at scheduled intervals, and the centralized database processes information in batches. This periodic approach maintains high productivity by providing timely updates while significantly reducing energy consumption and computational resource usage compared to continuous monitoring.
Solution Approach 2:
The system monitors only the most critical asset parameters and job site metrics continuously, while other parameters are updated periodically or on-demand. This selective monitoring approach achieves sufficient operational efficiency for most use cases while minimizing computational resource consumption, allowing the system to scale resources based on actual needs rather than maintaining full real-time capacity.
3Loss of information
If comprehensive asset information is collected and stored centrally, then loss of information is reduced, but device complexity and data management requirements increase
Solution Approach 1:
The centralized database acts as an intermediary between multiple reporting sources and the asset management system. It standardizes data formats, validates information completeness, and manages data relationships between assets, job sites, and maintenance records. This intermediary approach ensures comprehensive information collection and storage while simplifying data management complexity through centralized control and standardized protocols.
Solution Approach 2:
The database system segments information into organized categories: asset information, job site information, maintenance records, and reporting data. This segmentation allows comprehensive information storage while managing complexity through structured data organization, making it easier to query, analyze, and maintain specific data types independently within the overall system.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
This approach enhances asset management by reducing downtime, improving maintenance scheduling, and increasing operational efficiency, while also providing better tracking and security features, ultimately leading to cost savings and improved asset lifespan.
Implementation Method 1
information from a first reporting source, including, but not limited to, location information determined by a global navigation satellite system (GNSS) receiver
Data Source
AI summary
A system and method for providing asset management information to a customer is disclosed. The method receives information from a first reporting source about an asset. In addition, information from a second reporting source about an asset is also received. A database is then populated with the information from the first reporting source and the information from the second reporting source such that information from the first reporting source and information from the second reporting source can be collected from the database. An asset information report is then provided to a customer application from the database.