As technology and its impact on storage have grown exponentially in recent decades, numerous sectors have infused Big Data into their practices. Big Data, which refers to gathering and storing huge amounts of information for various areas of business analysis, has been a huge piece of sectors like banking, healthcare, education and many others for years – and over more recent periods, has begun to make a big impact on waste management and waste transport services.
At Enviro Care, we’re always looking for ways technology like Big Data can improve our processes and ability to serve you with hazardous waste remediation and transportation. This year we're launching a new platform called Project Insight to help us manage and analyze our data. Let’s take a look at the role Big Data has begun to play in this industry, and how it helps benefit our clients.
It’s important to remember that the last few years have marked some of the early stages of Big Data making its way into the waste and recycling industries. It first cropped up as a great way for companies like ours to optimize our routes and pickup times based on data collection, which both lowers emissions from our trucks and also benefits our clients in terms of convenience.
In addition, there are possibilities for Big Data to infuse into several other areas here – and some of these are already happening. Companies like ours are beginning to use large pockets of data for resource planning, capital expenses, or improving recycling rates. The near future is very bright here, and has already begun to happen in many cases.
The Four Vs
It’s important for those in the waste and recycling industries to understand what are known as the “four Vs” of Big Data:
- Volume: How much data you have from the various sources available to you. The more data you have, the better insights you can gain from it.
- Variety: You want as many varied demographics and customers as possible, as this will allow you to view a wide array of needs and desires.
- Velocity: The speed at which you acquire data – the faster the better, as you can create reports that are more accurate and come quicker.
- Veracity: This refers to the quality and dependability of different sources of data, as well as the frequency at which you collect from a given source.
Waste and recycling are already competitive industries, and Project Insight will only improve this in healthy, organic ways. It has already made the margin for error thinner – companies not operating efficiently just won’t be able to keep up. For the future, though, there is great potential for Big Data to limit liabilities and create additional assets in the industry.
Internet of Things
Another big area to consider here is the Internet of Things (IoT), a network of physical objects that are connected to the internet via electronics, software and sensors. IoT is making a big early impact on waste and recycling, helping with various instruments and optimization areas.
For more on how Big Data through Project Insight is making an impact on the waste and recycling sectors, or to learn about any of our hazmat cleanup or environmental services, speak to the pros at Enviro Care today.