Posts Tagged ‘big data analytics’

Warning! Smart Big Data Analytics People in the Room

David Holmes

David Holmes

CTO & Chief Industry Executive -Global Oil & Gas Program at EMC
As Chief Industry Executive for the Global Oil & Gas Program, David is responsible for developing EMC’s Oil and Gas upstream solutions and product positioning strategy in conjunction with the Brazil Research Center and Global CTO Organization. Works with partners and clients to identify oil and gas business needs and designs solution architectures to support these opportunities. David has served on a number of industry committees including the European ECIM organization and SPE’s “Petabytes in Asset Management.” He has delivered numerous technical papers at conferences around the world and holds a patent for his work on the remote visualization of geotechnical applications.
David Holmes
David Holmes

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Recently, I attended the Society of Petroleum Engineers Forum event on Big Data Analytics in Dubai, UAE. Forum events are industry led and have no sponsorship, they bring together 50 thought leaders from vendors, oilfield service companies and oil companies to look at the challenges and opportunities related to a particular topic. It’s pretty exhausting being in a room full of smart people for four days, and my brain definitely needed the weekend to cool down.

But over four days of workshops and discussions, a clear theme was identified: The lack of an integrated approach to big data analytics. Companies complained of a lack of joined up thinking and of business stakeholders investing in bespoke point solutions that only increased the complexity and challenges of delivering future solutions. It was pretty cool to be able to talk holistically about a range of solutions that addressed infrastructure, data integration, data quality, data analytics, data persistence, the role of the cloud and the third platform as well as some top notch PAAS and agile development smarts. EMC has all of these, available (as is our want), either piece by piece or as a fully engineered solution wrapped up in the ribbon that is the EMC Federation Business Data Lake.

However, the implementation of an integrated big data analytics capability across the enterprise has consequences beyond those I had anticipated and at all levels of the business:

smart_people_in_room

  1. Strategically – One attendee talked of his frustration at the lack of consistent adoption of big data analytics to support portfolio management. A comprehensive approach would allow companies to dynamically manage their portfolio of assets supporting the regular review of business strategy based on changing market conditions. Optimizing portfolio management has an ROI running into the hundreds of millions if not billions of dollars. One speaker talked passionately about how “bias is the mortal enemy of upstream performance.” Big data analytics should help remove bias and support rational decision making.
  2. Operationally – Many companies are introducing big data analytics tools to address particular workflows or challenges. While these solutions might address particular high value problems, often they are not being implemented in a joined up way. Almost all of the attendees supported having a centralized big data analytics function with data engineers embedded into asset teams but working as part of a centralized group working on a common set of platforms.
  3. Tactically – There was quite a lot of talk as to how big data analytics could be commoditized to support smaller opportunities. One example given was that maybe you could save $40,000 a year through analyzing water purchasing contracts and linking this to your reservoir model. But that only makes sense if you could run a project to implement such a solution for less than $60K (assume a 100% ROI over 3 years and an 18 month payback). The only way you can support small projects is to have all of the infrastructure and resources in place already.

Of course a lot of talk at the event was around the oil price. But did this put people off looking at technology projects? Not really, as one person put it – “Oil companies of all sizes are facing an existential crisis, the company that is first to effectively leverage big data analytics across their enterprise will have a material competitive advantage over its competitors. Then everyone else will have to follow suit.”

Technology and Business Alignment in E&P

Tim Voyt

Tim Voyt

Mr. Timothy Voyt has more than 20 years of experience in providing technology and services to the Energy industry, both domestically and internationally. Mr. Voyt joined EMC in April of 2005 as the Oil and Gas Director and has global responsibility for all aspects of the EMC’s Oil and Gas Vertical Program. Prior to joining EMC, Mr. Voyt served as Executive Vice President of Operations for Tobin International where he had operational accountability for all of Tobin's Data Products, Software Products, Services, and International Operating Divisions. Mr. Voyt also spent more than 9 years with Landmark Graphics building and managing Landmark’s pre- and post sales services businesses within North America, Europe, Africa, and Russia.
Tim Voyt

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[show_avatar email=tim.voyt@emc.com align=left avatar_size=30]

One of the best parts of my job is that I get to work with E&P customers and partners in who are working to solve really interesting business challenges. What’s even more interesting to me is that more and more of these business challenges have an information technology component that will positively or negatively impact the overall efficiency and effectiveness of the ultimate solution. The intersection and (more often than not) inter-dependence of technology within business operations provides fertile ground for technology companies such as EMC to engage with our clients in line of business discussions rather than just traditional IT dialogues. As such, our customers and partners are looking to EMC to take an active role in innovative research and development projects that incorporate business workflows, process improvement efforts, application development, underlying infrastructure stacks, and data themes. It is good to see IT professionals having a “seat at the table” and being able to contribute real value when it comes to solving business challenges. The realization that IT can help create a business advantage rather than (more…)

What Will Utilities Do With Massive Volumes of New Data?

Daniel Pearl
Dan Pearl is a technical subject matter expert within EMC's utility industry business unit. He is responsible for analyzing Utility Companies' business challenges and translating them into proven technology solutions that increase performance, reduce risk and accelerate time to market. Dan has worked extensively with leading Smart Grid and AMI vendors to build relevant EMC solutions around meter data management, cyber/physical security, and grid intelligence. He also has prior experience within EMC building solutions in the Oil & Gas sector.
Daniel Pearl

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[show_avatar email=daniel.pearl@emc.com align=left avatar_size=30]“The Future belongs to the companies who figure out how to collect and use data successfully.”
~ An O’Reilly Radar Report: What is Data Science?

The analytics market is enormous; it is estimated at around $70 billion today, growing at an astounding 14-20% per year.1  And everyone’s getting in, from the technology heavyweights to the warehousing specialists to the visualization tool vendors to industry-specific companies across all sectors.

The utility industry is no different. Energy Central’s Utility Analytics Institute forecasts that utilities worldwide will spend over $2 billion2 and Pike Research forecasts over $4 billion annually on analytics by 2015, with a 65% compound annual growth rate (CAGR) from 2010.3

Why? (more…)