Oil is an essential natural resource for many industrial areas. However, with the Industrial Revolution 4.0, data is becoming the indispensable asset that will power industries in the Information Age. Marquees of the business world anticipate data to be the new currency of the digital economy. Thereby, oil & gas companies will have to capitalize on data through advanced analytics to register big wins in this competitive landscape.
Today, the traditional oil & gas industry is poised between two competing trends – rising demand for energy and upward spiral of industrial digitalization. As a result, a mounting number of companies have begun to set ambitious goals by adopting advanced analytics in the oil and gas sector, to stay ahead of the curve.