Is Big Data Relevant to Energy Services?

We’ve all heard the term “Big Data” – it may be one of the biggest buzzwords in business the past few years, and maybe one of the biggest clichés. But cliché or not, it’s still true that companies have much more information available that ever before, and we need the ability to analyze that data if we want to be effective in our business. Big Data is information at its highest level - sometimes it is so complex that it cannot be processed using traditional data processing applications. But finding a way to get to it allows you to gain insight into your business that was previously unattainable.

Leveraging data for better decision making can be a differentiator for businesses, and the oilfield services industry is no exception. Accenture has researched our industry, and found less than one-third of companies have predictive analytics capabilities, although the majority have acknowledged and believe the value of big data analytics and the need to adopt it to enhance operations and support their Industrial Internet strategy.

At VistaVu Solutions, are keenly aware of how important big data analytics will be to our clients and customers. We are working on new products and several implementations with customers around analytics and dashboards. Additionally, we have in house SAP® HANA servers that provide in-memory computing capabilities to produce analytics faster than conventional servers. These efforts will help our customers analyze the vast amounts of data available to them and make better, faster decisions that will help them improve financial performance, quickly identify risks and opportunities, improve predictive capabilities, streamline operations and ultimately, secure market position.

Keep your eye out for more big news about Big Data from VistaVu Solutions.