Having the right data matters in business – regardless of the industry you compete in. Sales numbers, production information, staffing considerations, costs to transport your equipment and crew to job sites, supplier prices, inventory: All of these elements factor into the decisions that you make for your energy services business.
Of course, it’s not just having the data that matters. You also need to be sure that you’re using it correctly
Small businesses often struggle in this regard because every oilfield services company has its own unique requirements for creating reports, analyzing the figures, and monitoring the profitability of its jobs. Additionally, limitations on IT are also a factor; finding the right tools – and ensuring that they all run properly on your company’s computer hardware – can be challenging especially when data is stored in a number of places.
However, when you and your staff can access and draw on a wide range of data and create formatted, stylized reports, you will be able to more clearly see your current situation. By leveraging your data effectively, you’ll be in a better position to see what it takes to push your business to the next level and make the decisions that will help you reach those goals.
No matter how accurate your records are, no matter how secure and accessible your backups are, and regardless of whether you’re in oilfield construction, facility maintenance and turnaround – or even in the business of manufacturing mud tanks, taking your data to the next level will enable you to better reach your goals. By eliminating custom design time, creating data mashups, including interactive elements in your reports, and exploring not only real-time data but also hypothetical “what-if” scenarios, you’ll be prepared to see your business as it is and improve the decisions you make as a result.
