Technologies exist now, and are being rapidly developed, which offer productivity benefits across the infrastructure sectors. To maintain and improve our competitiveness, we will need to embrace the opportunities these technological changes offer.
The potential applications of 'big data', which refers to the exponential growth, volume and variety of large collections of data for analytical purposes and 'machine to machine' (M2M) links, offer the opportunity to capture and apply information to improve the operational efficiency of Australia's infrastructure networks and make better decisions based on an understanding of user behaviours and preferences, such as:
■ monitoring the condition of assets, thereby enabling better informed decision making about when, where and how to maintain or renew existing assets;
■ improving the operation of infrastructure assets in real time, including managing and predicting demand in peak periods; and
■ gathering data on the operation of infrastructure to facilitate better planning and investment decision making.
Applications include demand management systems to provide real-time demand and price signals to electricity customers and road users. These systems will allow infrastructure providers to apply more effective and equitable mechanisms for user charging across a broad range of infrastructure sectors.