More and more oil and gas companies are jumping on the digitalization bandwagon, but without a comprehensive and collaborative digital strategy, a piecemealed approach can be costly. To avoid falling behind, have a well-planned approach to your digitalization journey and avoid these pitfalls.
Oil and gas companies are only as effective as their oldest legacy system. Companies can adopt the most advanced expert systems and efficient workflows, but if a legacy system still requires engineers and project manager to manually search for data, the entire process is slowed.
In fact, one internal audit conducted by an oil and gas company found its upstream employees spent up to 80 percent of their time merely searching for the data they need to drive decisions. FutureOn®’s FieldTwin™ addresses the problems oil and gas companies face in accessing data, converting data across expert systems, and then visualizing that data. Embedded as an interactive object within any web-based operational dashboard, FieldTwin™ allows user access globally via any device. User- and context-sensitive dashboards can be easily configured and can connect any aspect of the virtual field to workflows to speed and improve operational decision making.
FieldTwin™ can also plug into existing expert systems, so engineers don’t have to close out of FieldTwin™ to open flow simulation software. Instead, engineers simply open the flow simulation software or other engineering software in an iframe within FieldTwin™.
Forrester Research estimates 60 to 73 percent of data enterprises have access to goes unused for business intelligence and analytics.
This unused data is mainly due to the data pouring in from robotics or Internet of Things sensors. Engineers cannot possibly manage the data without a sophisticated digital management software to handle the influx and make better sense of the data. Without a comprehensive platform, engineers and project managers are given the impossible task to scroll through large volumes of data to identify patterns and catch real-time problems. A digital management system such as FieldTwin™ is designed to identify discrepancies on the spot, enabling teams to make better business decisions and improve workflows quickly.
For more on how to avoid the risks of DIY digitalization, contact us today to discuss a well-planned digitalization approach.