Big Data Analytics Framework Empowered an Oil and Gas Company to Reduce Operational Costs by 37% Through Continuous Process Improvements
The client is a leading multinational oil and gas industry player, based out of Austria. The company boasts an impressive number of 6,000+ clients worldwide and employs over 10,000 employees. The oil and gas company wanted to devise a big data analytics framework that supports data acquisition, aggregation, transformation, and cleansing to create an enterprise [...]READ MORE >>
The client is a leading multinational oil and gas industry player, based out of Austria. The company boasts an impressive number of 6,000+ clients worldwide and employs over 10,000 employees. The oil and gas company wanted to devise a big data analytics framework that supports data acquisition, aggregation, transformation, and cleansing to create an enterprise data management platform that will serve as a single source of truth and help make crucial business decisions.
The Business Challenge
Modern big data analytics tools and cognitive technologies have been proven to be useful in maintaining and analyzing huge troves of data sets generated by businesses across industries. In the oil and gas industry, big data analytics helps improve data management, identify and map oil reservoirs, and optimize operational costs. With the generation of huge volumes of unstructured data sets from sensors, oil and gas companies have found themselves in a fix and are looking at capitalizing on new opportunities by leveraging advanced big data analytics solutions. Apart from offering actionable insights to improve decision making, big data analytics helps oil and gas companies to leverage big data to improve recovery rates, reduce environmental impacts, and avoid accidents.
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The current data management platform deployed by the client was expensive and offered limited scalability, due to which data was being underutilized and choked in their data storage systems curtailing its processing ability and giving rise to challenges such as high processing costs, limited analytical access to data, constrained EDW capacity, and inability to process unstructured datasets. To tackle these challenges, they wanted to leverage Quantzig’s big data analytics solutions and deploy a robust data management platform to effectively store and manage the growing complexities of the unstructured data sets.
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Solutions Offered and Value Delivered
We adopted a comprehensive three-pronged approach to help the client tackle the challenges around data storage and data processing.
Partnering with the client’s data management team, we undertook a detailed industry assessment to understand their current big data analytics capabilities, scalability bottlenecks, and other factors hindering growth.
Our big data analytics team collaborated with the oil and gas client to devise an end-to-end big data analytics framework to tackle their challenges.
The third phase of this big data analytics engagement focused on deploying a big data platform to help them improve their analytical capabilities, understand the customer needs better, and generate more revenue opportunity.
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Our big data analytics solutions also empowered the client to:
- Store, maintain, and process data as they moved through various stages of the data lifecycle
- Achieve a 37% reduction in operational costs with continuous process improvements
- Develop a big data analytics roadmap to scale business processes and analyze unstructured data sets
- Demonstrate significant improvement over current ad-hoc analytics capability
Why Choose Quantzig as Your Big Data Analytics Solution Provider?
The staggering volumes of unstructured sensor data have given rise to several data management challenges in the oil and gas industry. To tackle these challenges, businesses must comprehend the pieces of information and extract actionable insights. Backed with powerful big data analytics tools and over a decade of experience in working with clients across industries, our big data analytics solutions can help you do just that by breaking down data silos to unearth valuable insights to act upon.
Request for more information to learn how we can help you tackle the complexities associated with ustructured data sets.