Forecasting future trends and turning insights into vivid reality with matured data management

We improved the decision-making capabilities of our client and helped them in saving significant costs.

About the Industry

The role of analytics in the oil and gas industry has helped in the implementation of the responsible governance process. The exploration and production operations are getting digitized, which is the prime reason behind the generation of massive data sets in a proportionate manner.With Big Data & Advanced Analytics playing the lead role in the energy sector, unstructured data obtained from multiple sources like weather reports, media, journals, etc. have started contributing towards making an effective business solution.

Deployment of automated solutions facilitate critical decisions, which ultimately improves the overall business processes .Improving the recovery rates, saving time and resources, and providing actionable insights are some of the immediate benefits you get once you integrate the operational technologies with analytical ones.

About the Client

Our client is one of the world’s largest oilfield service provider company. Headquartered in Houston, the US, the total revenue of the organization is USD30 Billion. With the workforce of 70000, they are involved in producing digital solutions based on the principles of the Industrial Internet of Things.

The long list of mergers, acquisitions, and joint ventures clearly states the growth-centric motive of our client. They have expanded across all the major oil-producing nations and are doing rigorous research across untapped regions.Australia, Singapore, Malaysia, India, and Germany are the central business zones of our client.

The Business Challenges

Our client was facing the following challenges that largely impacted their business: –

• The increasing operational and maintenance cost was posing an unidentified financial burden on our client.
• The cost of the rigs on location and their drilling was increasing abnormally.
• The conventional control system, lack of automation, and menial tasks hampered the productivity and the throughput of the organization. 
• Lack of accuracy in the future forecasts impacted the decision-making capabilities of the organization.
• The data was in abundance but not mature enough to deliver actionable business insights. 

The Business Solution

• We identified the drawbacks in the existing data solution. Making data mature was the ultimate solution to tackle business challenges.
• The process started with capturing of the historical data, followed by the cleansing process.
• The algorithm generated using the collected historical and RTP data forecasted the probability of any obstacles that might occur in the future. In this manner, the maturity level of the data was leveraged.
• Later, the implementation of the predictive analytics solution made forecasts and predictions even more accurate.

Key Results

• With improved operational efficiencies, our client witnessed 25–30% growth in operating income.
• The accuracy of making predictions improved, which in turn enhanced the decision-making capabilities of the organization.
• Data became more mature.