Change is inevitable. Right now, the oil, gas and energy industry is going through change at one of the most rapid rates in history.
Remember, with change comes uncertainty, and ongoing uncertainty can be more than just disruptive. A single event or oversight can derail your ambitions and lead to significant consequences – putting your business at an enormous disadvantage.
Making the right decisions in the face of these complex and ever-evolving challenges requires visibility. What you need are fast insights for confident problem solving. It comes down to having visibility that you can turn into value.
Digital technologies are helping almost every industry rewrite its operating landscape, so why shouldn’t you do the same?
The right data, for the right insight.
Full visibility of all assets, resources and projects is a clear route to value – and digital technologies can give you access to the right data at the right time to deliver those insights.
Consider the current quality of your data. Are you confident that you have the full picture of your operations? And does it allow you to run at your best performance level?
Transitioning from guesswork to proactive excellence requires the right technology. If this is a move you haven’t made yet, you could be missing out on the intelligence to stay safe, profitable, productive and operating reliably.
The five tips below tips can help you improve your data visibility. Read the guide to find out more about the key challenges that might be holding you back.
Incomplete, duplicated, unverified data. We’ve seen it all.
Breaking down data silos so that you have a single source of truth for your operations should be your starting point.
Did you know that data consumption accounts for 5-10% of typical IT spend?1
This is a good place to start making a difference on your bottom line.
Fragmentation leads to frustration. For strong data accessibility, your organisation should be able to:
- Collect data from different areas
- Unify all data in one place for a single view point
- Put checks in place to make sure the quality is up to your standards
Surety of insight is a bold pursuit, but often we fall short of it. How do you make sure that what you are looking at is really what you are looking at?
According to McKinsey, between 30 and 40% of the daily reports that businesses generate, add little to no value.1 Data can tell an excellent story.
The key is that it tells the right one. Find a partner that has been there, done that, and provides assurance that you’re seeing the right trends.
With the right technology, you can use your data to:
- Uncover insights to gain the knowledge to act confidently
- See trends or inconsistencies to determine the right activities for your projects
- Plan more solidly against potential risk
Now that you have the right data, delivering the right insights, are you able to make insight-driven decisions quickly?
In business today, there is a need for speed. Organisations that make decisions quickly are twice as likely to make high-quality decisions.2
Choose technology that gives you fast access to insights to help you confidently determine uncertainty, plan against potential risks and react quickly to challenges or changes.
Leading on to our next question…
The right digital technologies provide:
- Access to the right information, just as you need it
- Faster time to insights
- Rapid routes to unearthing new value
- Broken down data siloes for consolidated views
We’re all facing difficult challenges at the moment. That’s why operational efficiencies are so important.
Whether your focus is on operating safely, enhancing performance levels or saving energy – or all of the above and more – you want to be able to make those hard, important problems seem easy.
If you get the three previous questions right, you’ll be in a good place to achieve fast decision making. But working with expert partners with industry experience will also help you here.
For example, how about a partner that is trusted by 60% of nuclear plants in the world?3
The right partner, with the right knowledge and technology can
help you to:
- Use data to enhance operational efficiencies
- Effectively solve the complex problems that are specific to
- Be more confident about the decisions based on your data
We know that finances will always be on your mind, so it’s at this point that you’ll want to see the impact on your bottom line.
Take one of our US refinery clients. By working with our technology, it was able to determine that only 20% of its equipment held 80% of the risk. It could then focus a holistic review on its most critical equipment – saving around 2.5 million dollars in the first year.
Your digital technologies partner should be able to show you evidence of where it has:
- Aligned its suite of solutions to suit a business’ unique
- Maximised time on production and reduced uncertainties to
Vision starts with supervision.
The right digital technologies can give you the data to turn oversights around cost, safety, sustainability and reputation into actionable insights. From there, you can turn the unknown into your competitive advantage.
Bringing to light the right insights, when and where you need them, helps you to make faster, smarter decisions, and stay in control of your business vision.
Could you be missing out on hidden value? Maybe you feel like your data or digital technologies could be working harder in light of these five steps.
If you want to know how we can impact your organisation’s bottom line, our team is here to support your strategic conversations and plans. Let’s have a discussion on how we can help you achieve your goals.
You can also explore our interactive tool to help you see if business value is lurking just out of sight and how you can achieve operational enlightenment: