LONDON--(BUSINESS WIRE)--Quantzig, a leading analytics advisory firm that offers customized analytics solutions, has announced the completion of their new article on how digital technologies are transforming the oil and gas industry. In the highly competitive and digitalize business processes, oil and gas companies are facing many challenges in the 21st century. Prices are fluctuating more than they ever have, technologies are phased-in and phased-out faster than many companies can even keep track of, CAPEX is being emptied into digital opportunities, and the need to maximize asset production and flexibility has left many key decision-makers split as to where to head.
“Effective use of digital solutions can help players in the oil and gas industry to increase productivity, efficiency, and agility,” says an oil and gas industry expert from Quantzig.
Since the industrial revolution, the oil and gas industry has played a crucial role in economic transformation. But unfortunately, this industry has fallen behind in terms of digitalization and is unable to utilize the real-time insights gathered by connected technologies. By leveraging digital technologies, oil and gas companies can glean key insights from multiple data sources to stay ahead of the curve. With the help of digital technologies, oil and gas companies can achieve the desired outcome such as improved safety, reduced costs, increased revenues, and reliability of business operations.
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Benefits of Digital Technologies for The Oil and Gas Companies
Helping companies to gain a competitive edge
Oil and gas companies today are looking to integrate solutions and technologies that will give them a competitive edge, offer critical insight into core business practices and operations, and above all, reduce costs. Fortunately, with digital technologies such as real-time data streams, mobile technology, and embedded sensors, this is becoming easily affordable for companies in the oil and gas industry that is further helping them to stay ahead of the curve.
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Contributes to lower production costs
One of the critical challenges that companies in the oil and gas industry are facing is rising production costs. As a result, companies in the oil and gas industry are increasingly relying on big data and analytics solutions to optimize business operations. By adopting digital technologies, companies in the oil and gas industry can easily manage, measure, and track all the data coming from different sources.
Quantzig’s analytics experts have helped leading oil and gas industry players s in the effective integration and analysis of operational data for smart decision making. Get in touch with our experts to know more.
Want to learn more about the benefits of digital technologies for the oil and gas industry? Read the complete article.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 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 our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal