‘Less than a third of global oil and gas companies use big data’

big data-iancu justin sxc.huRecent study by GE and Accenture reveals that only 31 per cent of oil and gas companies regard big data as top priority

This is on a par with the power generation sector but lower than in the aviation and wind power industries, which measure 61 per cent and 45 per cent, respectively.

Although effective data management can mean big savings for operators, less than a third of firms currently regard it as a priority, according to the report.

Innovative new analytics tools are providing more effective data recording and sharing, but these services can come with a steep price tag, a challenge given current low oil prices, noted the study. Data tools allow operators to identify unexploited oil wells and provide more control and less operational down time, but thus far the oil and gas majors have thus far been the main buyers of data management services.

Part of the challenge of slow adoption may fall with some supplier’s inability to more effectively market and message the benefits obtained from investing in Big Data and IIoT enabled solutions.

Consultancy provider ARC recommended that companies develop case studies or user success stories that highlight the tangible benefits of leveraging new technology, even if there were some challenges along the way and lessons to be learned, the more likely barriers of resistance, in many cases based on misconceptions, to adoption will be diminished.

“As the level of adoption of Big Data and IIoT begins to grow over time, ironically, it will reach a point at which the fear of being left behind by the rest of the pack will drive even greater adoption,” the firm noted.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
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