Oil and gas industry- the well-known engine that drives the world economy! It’s true. Instead, the companies producing the most valuable resources suffer from either improper exploration methods, inefficient refining, manufacturing practices, or disconnected supply chains that directly impacts revenue generation.
Moreover, handling dozens of excel file manually is like herding cats and evaluation of huge data is a hard nut to crack for the oil and gas companies. Plus, getting access to the real-time data from the oil field or drilling platforms to collaborate, analyze and make quick decisions or instructing the workers at remote place where petroleum operations are carried out are the different challenges that oil and gas companies face. But, the sole problem that all of them find is in making the right choice for the technology.
The unique technology that has potential to wipe out all the worries of Oil and gas industry is Big data and cloud computing. The spectacular technology that’s shaping the future of every industry vertical along with fulfilling industry-specific needs would enable companies to operate more efficiently even during a downturn.
According to a Dell survey, companies using the cloud, mobility, big data enjoying 50% faster revenue growth.
Incorporating Big data and cloud computing would allow oil and gas companies work highly automated, increase collaboration, build enduring customer relationships and improve speed. Before we begin counting the advantages of embracing the oil and gas IT solutions, let’s understand first what the Big data and cloud computing are.
With big data, business would gain insights from the collected data and encourage data-driven processes. Cloud computing reshapes the IT infrastructure of traditional data centers computing data in the virtual world and bring out the actions.
Let’s take a look how the IT solution is a perfect fit for the oil and gas sector
Reduce IT costs
For any IT solution, companies are required to procure the necessary hardware or software setup on their company premises, which requires good amount of investment. With cloud computing, oil and gas companies can extend their existing IT capabilities without installing any hardware. Companies would work on pay by use basis where hosted services are offered over the internet and cloud is built over the premise company is running in a virtualized world where virtual computing is done on big data files.
The complete process requires just a thin client device like- iPad, laptop or desktop, zero down the maintenance costs, and significantly reduces capital expenditure requirements. Big data and cloud computing would transform the economics of IT by reducing IT expenses and complexity.
Plus, oil and gas software solutions would be helpful to the small operators, independent software developers, and consultants as the cost-of-entry to cloud-based computing are low.