A common complaint in the Oil and Gas industry is that there is “too much of data and there is not enough information”. Leading Oil and Gas companies are now recognizing that valuable information is available yet remains untapped. The volume of data has been ever increasing. Concepts of digital oil field, new technologies and ubiquitous availability of broadband have added to the volume, variety and velocity of data.
Data analytics describe a new generation of technologies and architectures designed to economically extract value from large volumes of a wide variety of data by enabling high velocity capture, discovery and analysis. The increase in per barrel production cost has decreased the margins to a new low. This combined with the potential to extract difficult oil from previously unimaginable sources has brought the focus upon logistics and its associated costs, making optimization of logistical costs through the streamlining of operations, the need of the hour. This white paper intends to address the use of Data Analytics in Oil and Gas logistics and how it can contribute to the overall improvement of logistical operative efficiency.
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