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Disruptive Technologies - Time to Take Over The Way We Manage Data

Updated: Apr 28, 2022

Application technologies are rapidly advancing how the end-user does work. It is said that the best employees are those that can learn, unlearn, and relearn. There is no steady state for the average employee anymore. Data management and data analytics have been intertwined in business processes and practices. No longer can you simply perform traditional month-end processes. The smart user optimizes those processes using advanced tools. Case in point: many large oil and gas producers have been gathering all of their utility bills and looking to optimize power consumption. For example, if they are paying four times more for power between the hours of 5pm to 8pm, companies will schedule higher power consumption outside of these hours. This may include pumps, mixers, or other equipment that uses a majority of power on site.

Having data in consumable data sets allows the employee to make value-add decisions for an organization. If you had power consumption and cost at an hourly interval, imagine how you could save your organization 10% or maybe 20% power costs? Now take this same paradigm to water or other consumables that cost your organization a lot of money.

Gartner Group

The Gartner Group has published the top Strategic Technology Trends for 2022. They highlight the fact that companies must adapt to the changing technologies to stay competitive.

“CEOs know they must accelerate the adoption of digital business and are seeking more direct digital routes to connect with their customers,” says David Groombridge, VP Analyst, Gartner. “But with an eye on future economic risks, they also want to be efficient and protect margins and cash flow.”

Efficiency Studio

Foresight recognizes that smaller E&P companies may not have the resources at their disposal such as IT departments with Business Analysts, Data Architects, or database analysts. By working with partners, Foresight has built a low/no-code solution to allow end users to build their own Composable Applications with a little help from our expertise. Efficiency Studio is a cloud-based solution that is user customizable to fit most of your operational datasets into one place. Call us today to start the conversation to improve your bottom line.

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