Global Mining Guidelines Group
Virtual Forum Series: Artificial Intelligence
Advanced Analytics in Mining Industry; Opportunities and Challenges
A few years ago, it would have been unthinkable to regard complex algorithms and analytics (in general) as the fundamental pillar of digital transformation in mining companies. Today, however, there are multiple opportunities for high-impact applications in different sectors, including mining operations, thanks to the availability of a massive amount of data generated along the mining industry’s value chain, storage capacities, the new analysis possibilities, and data processing through more powerful and complex algorithms. Advanced analytics use has only captured a small part of the forecasted potential, which means that there are still plenty of opportunities to deploy analytics in the mining industry.
“Analytics” applications are generally divided into three groups: descriptive, predictive, and prescriptive analytics. The optimization should also be included in the analytics applications to make a sustainable and applicable solution for the industries. These applications can take different use cases depending on each stage of the mining industry value chain. This presentation will explain some technical details of advanced analytics projects in the mining industry to clarify the opportunities and challenges in mining companies’ digital transformation programs.
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