11 May Big Data shows that the World is moving from Asset Protection to Asset Resilience
Posted at 10:44 in Flood Resilience by Henrik Pedersen
I am a big fan of Google Trends. It offers an instant way to see what the world is thinking and how the world’s thinking has changed over time by analysing its many trillions of historical searches (currently increasing at 3.5Bn per day).
As part of our developing campaign to promote Asset Resilience in the energy sector I searched the use of the terms ‘flood protection’ over the past 11 years.
The resulting graph is reproduced below (courtesy of Google 2016).
The graph portrays the relative search volume for the term across Google in the past 11 years. Immediately apparent is the obvious trend away from interest in flood protection.
However if you search for ‘flood resilience’ this is the curve you get (courtesy of Google 2016).
The data tells an interesting story about the adoption of resilience thinking.
If you discount the early spike and interest in the terms as they became established, the trend line from 2008 follows the classic adoption curve invented by Everett Rogers. See below.
The graph shows how innovations are adopted by different audiences, largely based on appetite for risk and a leaning toward possibility (earlier) or uncertainty (later).
What I believe is that Resilience is moving through the early adopters phase and entering the mass adoption phases of the curve. Over the coming years I think we will see more important events happen (like the insurance industry’s current adoption of resilience thinking) that will re-enforce the approach and make resilience mainstream thinking.
Mass adoption will give the confidence to all businesses to think long-term about new and innovative ways to reduce the total cost of ownership of their critical assets and maximise their business continuity.
For more thinking on asset resilience in the DNO sector visit assetresilience.adlerandallan.co.uk
Note: Rogers Curve graph courtesy of BHC3