Many industries today benefit from applying analytics to their more vexing problems. Oil and gas will follow suit. This post was first published on October 22, 2016. Curious if I was right.
A shrinking share of blue collar jobs and the increasing reliance on foreign outsourcing are driving political debate and making blue-collar-dependent companies take note. As you’ll soon find out, the prognosis is for these trends to not only increase, but to accelerate due to the rise new ways of working. These new ways of working include the increasing prevalence of automation, crowdsourcing, onshore outsourcing and offshore outsourcing.
Unless you’ve recently been hiding out in a sealed cardboard box (and not a Google Cardboard box at that), you’ll likely have heard of augmented reality and virtual reality; especially in their application as toys. But these virtual reality “toys” are being used to deliver real-world savings in the operations of oil and gas companies.
This special post was written by Dominika Warchol Hann.
As your oil and gas organization sets out its digital roadmap, you will have to make some trade offs around your focus of time, resources and areas of investment. Here’s a few of the key trade offs that have been the subject of my recent conversations with industry leaders.
How might blockchain technology solve one of the most frustrating and costly problems of the digital oil and gas industry? The sector builds new assets constantly, but engineering documents and systems that are supposed to accurately depict as built asset do not, leading to substantial costs and waste for the oil and gas asset owner. Blockchain could be a solution.
Many industries today benefit from applying analytics to their more vexing problems. Examples include life insurance companies who try to predict customer acceptance of new insurance products, retailers who predict the sales of new outlets, cable companies who try out new cable bundles, and food companies who plan menu choices (such as an all you can eat shrimp dinner special) based on expected availability of key commodities (like shrimp).
We're all in a brave new world of digital. Banks are converting us into our own bankers by putting banking apps on smart phones and tablets, airlines are turning us into check in counters, our phones are turning into our wallets and our doctors, our cars are becoming mobile hot spots, we can log in virtually anywhere and anytime on any number of devices. Consumer digital is impacting IT departments everywhere and in every field, from banking, retail, transportation, and the public sector.