Oil And Gas Data Analytics

Digital initiatives and technology spending in the oil and gas and petrochemical markets continue to surge with 90% of O&G companies increasing spending on digital over the next two years and 87% indicating that they are using advanced analytics as they look to use data to increase productivity.

Oil and gas data analytics. Data availability: Data is the fuel for advanced analytics. The good news is that most O&G companies have vast volumes of semi-structured data on hand, and they are using less than 1 percent of it. Analytics infrastructure: Today, computational power and tools are cheap, and off-the shelf analytics solutions are easily available. Although the. By 2018, 75% of all Oil & Gas companies will have at least one digital transformation initiative in full operations deploying cloud, big data and analytics, process automation or Industrial IoT (Internet of Things) for the organization to advance their IT environment. (Source: IDC FutureScape, Worldwide Oil & Gas 2018 Predictions) Quantify and improve the value of your existing rock data and earth models to support exploration and well planning decisions. OAG automates complex analytic processes, helping your geophysicists and geologists improve subsurface maps and predict missing rock properties. Analytics Powers the Industrial Internet of Things for the Oil & Gas Industry. Keith Holdaway, of the Global Energy Practice at SAS, explains how IIoT data combined with analytics can fuel the decisions that keep oil and gas companies' assets and processes running at optimal capacity.

How big data analytics are changing the oil and gas industry. By Amit Mehta on 12/27/2017. HOUSTON -- Today, “big data” has become a ubiquitous phrase at any enterprise, primarily as data in. Maana claims to have helped an unnamed Fortune 20 oil company make optimal pump selections, increase billable hours and reduce overall costs using the application. The company’s maintenance experts used the platform to collect data related to existing pump operations. The data came in the form of run-and-pull reports, pump failure reports, pump sensor data and high-frequency data flows. "Global Oil and Gas Analytics Market is expected to Reach CAGR of 20.30% till 2027. The final report will add the analysis of the Impact of Covid-19 on Oil and Gas Analytics Market" Top players in. Data analytics also help to determine the amount of oil and gas left in reservoirs; it is used to create its 3D and 4D maps. Reducing maintenance expenses Customizing predictive models can forecast potential equipment failures during drilling operations and refining.

Hence, in order to gain competitive advantage, almost all of them will require data analytics to integrate technology throughout the oil and gas lifecycle. 1. In Real-time and Highly Cost Effective. Data volume in the oil industry grows with rapid speed and handling a large amount of data efficiently becomes very important. Data & Analytics. Due to the rapidly-increasing volume of data acquired by companies in the oil and gas sector, data and analytics management tools have become extremely important. Companies need strategies to properly leverage the quantity of data generated by increasingly digitalised infrastructure. In India, vendors like Wipro has been closely working with domestic and international oil and gas companies to provide AI and data analytics solutions to business to tap into new avenues of growth. Through their AI and automation platform, Wipro Holmes, the company has been helping leading LNG company gain operational and business insight. The Oil & Gas sector employees large number of Analysts. They are the early movers in the Analytics segment. These business work in the process of exploration, extraction, refining, transporting of oil and gas by oil tankers and pipelines, and marketing of petroleum products.

DELIVERING REAL-TIME ANALYTICS & INSIGHTS Large sets of data are not new to the oil and gas industries. What is new is the scale, volume, and frequency of real-time data being generated by the widespread use of sensors across all aspects of the sector from seismic data to optimize production and field development, to production and processing performance data across control room crews, to. Better data analytics and technology provides the key in determining whether Oil and Gas companies thrive. Standard Life Cycle of Data Science Projects. Data Science is an ever-evolving field positioning the Data Science project life cycle to be open to interpretation and customization. Big Data and advanced analytics may be new to some industries, but not to oil and gas. Energy companies have for decades invested in seismic software and visualization tools to get a view of hydrocarbons deep underground. Now, advances in pervasive computing devices, analytic tools and storage are opening new possibilities—but only for the companies who can build the capabilities necessary. The oil and gas industry — which frequently operates at the cutting edge of science and engineering — stands to benefit considerably from data-driven analytics. However, the industry is playing catch-up in the race to apply advanced data science to its most critical problems.

Many oil and gas organizations that face tremendous growth in unstructured data are implementing industrial-grade predictive analytics and object-oriented data storage solutions to keep up with demand. As a result, traditional RAID schemes are being replaced by object storage solutions, and the Cognitive analytics helps you turn big data into insights. See how cognitive computing can help transform the Oil & Gas industry. According to Quantzig’s big data analytics experts, “Big data in the oil and gas industry assists in streamlining major operations, such as exploration, drilling, filtration, and delivery.” Our goal is to use cutting-edge data analytics to drive the oil & gas industry narrative. To be a one-stop-shop for oil & gas big-data solutions. Using data as an enabler, coupled with cutting-edge technology solutions, our platform provides powerful insights enabling clients make informed decisions. READ MORE.

Big data analytics helps businesses in the oil and gas industry devise new technologies to integrate data; thereby, driving faster and accurate decisions. Also, big data analytics helps leading organizations tap new resources, increase recovery rates, and reduce environmental impact.