In the commodity markets accurate and timely information powers effective decision-making for traders. Data on mining activity and production is widely available but not always accurate or up to date, and often self-reported by producers.
SAVANT provides copper traders with a new source of data gathered from space by powerful Earth Observation satellites. Monitoring the mines around the world that most influence the supply and price of copper with high-resolution satellites provides a stream of regularly updated observation data.
SAVANT uses innovative volumetric and activity assessment to turn satellite imagery of the mines into deeper insights into copper production at these crucial locations. Correlating this with complementary data sources, such as published market and production data, and news feeds from mining company trading statements, SAVANT produces actionable data and insights for traders – available online when you need it.
Data from space and advanced analytics are changing the way we view our world, bringing new perspectives and insights.
From space everything is visible. Satellite data is the new enabler.
Users and their needs
SAVANT – Critical Insights for Traders
Commodity traders want to receive regular insights on production levels to guide their trading activities, particularly for regions of the world where information is not readily available, is not timely, or is not specifically tailored to their needs. They want to improve their understanding of the correlation between market price movements and the physical production and movements of commodities in the world’s supply chains. Traders want information that is easy to access use and to understand how that information was created and what it means.
SAVANT is an end-to-end analytics and insights service, generating and delivering bespoke products tailored to specific requirements of customers seeking information on the mining industry, with an initial focus on the copper mining sector.
* Receive regular, timely and unique insights into the mining sector
* Monitor productivity of the world’s top copper mines
* Evaluate the impact of events such as industrial action, fuel price increases, weather changes
* Gain a competitive advantage in the trading markets
A 2012 study1 published in the Harvard Business Review, found that companies using big data analytics can improve productivity and profit gains by 5%-6% over their competitors. As many important mines are in remote areas of the world, and scarcity of information poses a challenge to analysts, satellite technology can be the one of the few options available to gain critical insights to support decision-making.
Service/ system concept
The Advantage from Space
Using satellite data and advanced analytics, SAVANT generates forecasts and predictions of production levels at individual mines within hours from acquisition of the satellite imagery. It is this timeliness and targetability that gives space-derived services a real edge over the current range of information tools and solutions.
Earth-i performs data analytics based on satellite and complementary data sources to provide assessments of the amounts of raw materials being extracted through mining operations at locations of interest around the world.
* Using innovative volumetric assessment techniques based on the analysis of very high-resolution images and video from space, Earth-i monitors heap volumes or mine activity, such as movements of trucks and conveyors and the loading of trains and ships.
* Video from space offers the unique capability to extract high-precision volumetric data from a single pass of a satellite over an area of interest.
* Video from space also provides the ability to observe and interpret activity at the mines by detecting moving features and objects, such as vehicles, trains and conveyor belts. Earth-i is the world leader in very high-resolution full-colour video from space and in using this unique data to develop applications providing meaningful insights to commodity traders.
Space Added Value
SAVANT uses Earth Observation still imagery and video data from space, in addition to other data sources, to conduct advanced analytics for traders. Earth Observation data adds unprecedented timeliness and targetability that gives the SAVANT service a real edge over the current range of information tools and solutions.
Following kick off in July 2018, agile development of the SAVANT product demo has been completed to enable interactive feedback from end users during the initial requirements phase – the focus of the first three months of the project.
This has resulted in an initial release of the SAVANT console to Marex Spectron – Earth-i’s key partner, and a world leading commodity broker with a customer base of 1600 traders. One to ones between Marex Spectron and their customers are now scheduled to hold during London Metals Week on 10-12 October 2018.
Earth-i has concluded preliminary work on SAVANT’s brand development. A logo and colour palette are now available to use.
The deliverables required for the project’s first milestone review on 28 September 2018, have been completed and are now uploaded to the Daptiv platform. These are:
- Requirements Document
- System and Service Architecture
- Business Plan
- Pilot Utilisation Plan
- Project Web Page