In the oil & gas Industry there’s a lot of change and growth happening. As more and more systems become automated and integrated, regulations change, and the market and competitive environment shift, information and knowledge become increasingly more important. Managing that influx of data becomes essential. Whether this is used in the search for natural resources, understanding the global market, or managing safety and environmental risks, data is essential to make these business decisions. In this white paper, Drilling for New Business Value, managing Big Data is the topic for discussion.
As the oil and gas industry continues to grow in complexity with changes in regulations, tighter margins, and possible infrastructure threats, executives need an easy way to view the increasing volumes of available data, make smarter, faster decisions, and create action plans in real-time. Leading oil and gas companies are recognizing that Big Data and Business Intelligence is not just the domain of “back office” analysts, but it is paramount to optimizing day-to-day operations across a broad spectrum of field workers, engineering, management, and sales and marketing roles. Read more here.
When I read the white paper, I was floored by the sheer volume of data out there. I had to take a moment to try to wrap my head around the number of zeros this would entail. The paper cites industry analysts IDC,
“the digital universe now includes 2.7 zettabytes of data. (A zettabyte equals almost 1.1 trillion gigabytes.)” Vesset, Dan and Benjamin S. Woo. “Worldwide Big Data Technology and Services 2012-2015 Forecast.” IDC. March 2012.
Okay, so I knew there was a lot of digital information floating around out there, but until today, a zettabyte was a term I had never heard of. My company alone has 80+ websites and portals…I can’t even consider all of the social media universe. Seriously, Tumblr alone with all the GIFs and pictures? YouTube? My puny brain is sparking with size of these numbers. (How many zeros is in a trillion again?) I kind of feel like the CD someone put in the microwave, just to see what would happen…Zettabytes? Yottabytes?
‘Til next time,