We already know that Big Data is relevant to the energy services industry. At least, you should, if you are paying attention to recent industry research and if you read our blog post from early October. As this article in Forbes reinforces, across the industry spectrum, Big Data is on the uptake. In energy services, depending on your company’s role in the industry, data could be number of wells drilled, volume of oil and gas produced, or the amount of materials and labor hours utilized on projects. Every day, we produce lots of data. So what do we do with it once we have it? We have to turn that info into usable information that will help us run our business efficiently and streamline operations. We need to leverage that Big Data, with a high-powered set of analytical software tools, to turn raw data into decision making insight.
Let’s bring this into sharper focus for the energy services industry. Do you know the answers to these questions as they relate to your business?
- How many hours of on-site downtime do you experience per year?
- What is your utilization percentage on equipment?
- What percentage of write-offs do you suspect are still in your inventory?
- How much of a premium do you pay for last minute/rush purchasing of materials?
- How often do mistakes occur on your invoices?
Knowing the answers to these questions – having this data – will substantially increase your operational effectiveness and will save you money, if you analyze and leverage it for your decisions instead of just letting it sit there.
So - do you know the answers to these questions? Where does your organization stand? We invite you to register to receive a copy of our new ROI Calculator to help you find out. It’s an intuitive, easy-to-use tool that will allow you to enter figures relevant to your company’s operations and see where and how much savings potential you have. It will also give you a better understanding of what types of “Big” Data elements and Operational Data elements you should know.
Register to receive our ROI Calculator today.
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