Drilling for Data: Analytics to Extract Insight Infographic

Drilling for Data: Analytics to Extract Insight Infographic

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http://spr.ly/AA_Industry - According to a recent study by IDC Canada, only 21% of oil and gas companies in Canada are drawing value out of their production data with real-time monitoring and ...

http://spr.ly/AA_Industry - According to a recent study by IDC Canada, only 21% of oil and gas companies in Canada are drawing value out of their production data with real-time monitoring and analysis. Yet, the huge amounts of data in oil and gas represent a unique opportunity for organizations to better understand their operations and run smarter.

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Drilling for Data: Analytics to Extract Insight Infographic Drilling for Data: Analytics to Extract Insight Infographic Infographic Transcript

  • BigDataReserves Volume 1 FORDATAANALYTICS TO EXTRACT INSIGHT 3D seismic data sets, surface monitors, drill measurements, weather, market prices, etc. Velocity 2 Real-time streaming data SCADA systems, drill heads, flow & condition sensors, etc. Variety 3 Structured, unstructured, semistructured (processed) data. “To be globally competitive, the Oil and Gas sector needs to focus on deriving value from operational datawith analytics supported by online tools, real-time data streams, mobile deployments” —Nigel Wallis, Research Director, IDC Canada Drilling An IDC Infographic, Sponsored by SAP All IDC research is © 2013 by IDC. All rights reserved.  All IDC materials are licensed with IDC's permission and in no way does the use or publication of IDC research indicate IDC's endorsement of SAP’s products/or strategies. EACH PRODUCTIVE WELL GENERATING THE FULL TEXT DATA OF WIKIPEDIA EVERY WEEK Of Production Data DAILY(estimate) One Well 1TERABYTE 11,475wellswillbedrilledacross Canadain2013 PETROLEUM SERVICES ASSOCIATION CANADA (PSAC) ESTIMATE ExtractingValue What are the three most critical objectives your organization looks to achieve through the use of business intelligence and analytics? 38% Better Financial Management 47% Cost Control or Reduction 49%Asset & Productivity Optimization Source: SAP Canadian Analytics Study, 2012 “Increased growth in the volume, variety and velocity of technical data, and a larger role for unconventional resources like shale gas and tight oil will drive oil & gas companies to focus their IT investments on data management and analytics, as well as mobility.” — Jill Feblowitz, Vice President, IDC Energy Insights. TheNeedforAnalytics 2012 Canadian study of Oil & Gas businesses with revenue of $100 million+ that regularly use analytics to inform their decision making: 47% of respondents identified Operations as one of the top three analytic users 71% use offline tools such as spreadsheets 21% have continuous real-time monitoring & analysis 1/2 have implemented analytics on tablets and smartphones Source: SAP Canadian Analytics Study, 2012