Factors Influencing Adoption of IoT for Data-driven Decision Making in Asset Management Organizations

Abstract

Organizations tasked with managing large scale, public civil infrastructure are increasingly looking at data to drive their asset management decision-making processes. The Internet of Things (IoT) enables the creation of data that can be used to gain further insights into the current and predicted state of the infrastructure and may help automate the asset management process. Yet, it remains unclear to what extent data from IoT impacts decision-making in public asset management organizations. The objective of this paper is to explore
implementation factors for adoption of new data sources for decision-making in asset management organizations. Based on a systematic literature review and case studies in the asset management domain, this paper derives the current use and expectations of new data sources for decision-making in asset management. The paper concludes that although recent technological developments have enabled the deployment of IoT for asset management, the current level of adoption remains low. The inherent complexity of adopting a datadriven approach to asset management requires an effective data governance strategy to ensure data quality, manage expectations, build trust and integrate IoT data in decision-making processes.