“The breadth of application of the results of data analysis in the oil and gas industry is broad, ranging from geological exploration and development to hydrocarbon processing.”
Fremont, CA: The new reality of the oil and gas industry needs significant changes across the value chain. Digital technology advancements have the ability to allow the industry to respond to these market developments more efficiently. While a digital strategy can help alleviate some of these pressures, several broader problems remain.
For example, which tools, in particular, will promote value creation in the future? How can businesses keep up with the dizzying pace of innovation? And, perhaps most significantly, what approach to technology adoption will allow businesses to not just keep up with the pack—but to surge ahead of it? Is gradual change the best way, or is it a squandered opportunity?
Predictive Analytics for Equipment Maintenance
A predictive analytics system can handle the issue of equipment maintenance on time. It is installing sensors to collect data on equipment operation and developing software to analyze the quality of equipment operation and execute repairs aid in the prevention of many problems. It allows for a 15-20 percent reduction in repair personnel numbers and a reduction in equipment downtime.
Analysis of Big Data for Risk Assessment
The lower cost of sensors, the availability of network connectivity, growth in the number of intelligent devices, and the creation of the IoT are all hastening data accumulation in the oil and gas business. Currently, there are around 80,000 sensors installed on the equipment of offshore platforms. The breadth of application of the results of data analysis in the oil and gas industry is broad, ranging from geological exploration and development to hydrocarbon processing. Combining big data analytics and business intelligence can provide even more knowledge. The analysis of gathered big data allows for reliable forecasting, assessing the relationships between various components, interpreting them, and assessing hazards.
Mobile Apps for Delivery Optimization
Today, the oil and gas industry players are actively incorporating new mobile solutions in serving retail clients, and this practice can be extended into engagement with corporate clients. Using mobile applications and gasoline sales data, companies can optimize supply between factories, tank farms, and gas station networks. The potential for optimization is 10-15 percent and considering economies of scale, and it is around 20 percent. As a result of the application, corporate consumers will control fuel supplies at refineries and reserve the necessary volumes
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