LONDON--(BUSINESS WIRE)--Big data analytics is invaluable across many industries, but different sectors find different uses for it. Oil and gas companies, for example, have been using analytics for years to help with decisions such as choosing the best drill sites. However, these organizations are also beginning to find other uses for the volumes of data available to them, allowing them to improve performance at a time when more challenges are arising in the market.
In its blog - How the Oil and Gas Industry Relies on Big Data Analytics, global analytics and advisory firm Quantzig provides an overview of the ways in which big data can be used to improve performance for oil and gas companies.
Quantzig observes that “Immense amounts of data are produced from the machinery and the measurements taken throughout the operation. This data can help companies improve not only current operations, but future ones as well, allowing them to determine the qualities of the rock and oil as well as the optimal way to work with them.”
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Companies are also working to adapt to the changing market and technology: “The industry is…turning to analytics and other technology to reduce costs and increase efficiency. Organizations are working to overhaul their data architecture, consolidating data and discarding legacy systems.”
There are numerous ways that companies can take advantage of big data analytics, including to improve decision-making and machinery efficiency. In order to remain competitive in an evolving market, oil and gas firms will need to make use of all the benefits that analytics can bring.
Read the entire blog here: https://www.quantzig.com/blog/oil-gas-industry-relies-big-data-analytics
More information on how leading oil and gas organizations are using analytics to improve operations, can be found using Quantzig’s resources. These resources are compiled from Quantzig’s team of over 500 analysts with industry expertise.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.