How Big Data Is Influencing the Oil and Gas Industry

U.S. oil and gas companies are leveraging big data to stay competitive. And a surprising number are relying on a small, innovative managed IT service provider to help them get the most out of the new technologies.

Here is a look at how big data is influencing the oil and gas industry, and why many companies are relying on tech-savvy, agile SMBs for help for their IT services.

Innovation Drives Growth

The benefit for companies that leverage their data effectively is higher profits. Innovative companies grow faster. A study showed that businesses rated as the most innovative grew 16 percent more than the least innovative.

Experts say big oil can save billions in the coming years by having easy access to industry data. They use it to decide when and where to pump, resulting in less downtime. But for this to work, data must be shared throughout the organization, not filed away in separate departments.

Working in the Cloud

This accessibility relies on cloud computing. For good reason, executives in the field have been resistant to converting from in-house storage to the cloud. They have worried about security and controlling access. If the wrong person gains access to critical data, it could stop the company in its tracks.

That’s why many have decided on a hybrid solution, using both public and private cloud technology. Newer methods like this for handling data is making cloud computing much more secure and reliable. Many oil and gas companies have switched to this method, leveraging the best of the two technologies.

The switch has made it possible for companies to handle big data with innovative solutions. This gives them the edge they need to stay competitive by making better decisions about production.

Innovation from Agile Business IT Support

People in the industry are finding that smaller IT management providers are often quicker to innovate. They are able to grab data and analyze it more rapidly than big corporations.

Because they make big data understandable to management quickly, the decision making process is more streamlined. Better decisions, quickly made, means growth and profits.

Another benefit of smaller IT operations is their hustle attitude. Working on a budget, they are always on the lookout for low-cost, effective ways to get the job done. They seek out ways to corral data and get it working for their oil and gas clients quickly and efficiently.

Versatility is also part of the agile mindset. Each member of the IT team can fill a variety of roles. This functionality is a boon for their oil and gas clients.

This “get it done” attitude, one that makes the best use of modern technology like big data, is also a role model for successful oil and gas companies. They realize it is worth imitating if they want to stay competitive in an industry that shifts rapidly. Big data that is properly captured and analyzed becomes smart data, the foundation of shrewd business decisions.

Looking for a managed service provider that will keep your oil and gas business viable in an aggressive marketplace? Call Moore IT Services, serving businesses just like yours for almost a quarter-century.