Matured Data Management: Turning insights into vivid reality

We have improved the decision-making capabilities of our client as well as mitigated a significant amount of their costs.

Experience the transformational journey of turning insights into vivid reality through matured data management. Our case study highlights how Bizmetric’s expertise in data management can unlock the true potential of your data, enabling informed decision-making and driving growth.

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 increasingly turning to digitization, which is the prime reason behind the generation of massive data sets in a proportionate manner. Although Big Data & Advanced Analytics play the lead role in the energy sector, unstructured data obtained from multiple sources have also started contributing towards creating an effective business solution.

The deployment of automated solutions facilitates critical decisions, which ultimately improves the overall business processes. Integrating operational technologies with analytical ones provide immediate effects such as refining the recovery rates, saving time and resources, and providing actionable insights.

About the Client

Our client is one of the world’s largest oilfield service provider companies. Headquartered in Houston Texas, the total revenue of the organization is 1.3 billion. As a growing workforce, there is a lot of involvement 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. Expanding across all the major oil-producing nations as well as performing 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 up to 27% 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. 

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