Think Big, Think Data!

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Big Data & Data Science
A recent publication in The Economist asserts that data has now surpassed oil as the world’s most valuable resource. In the last two years alone, the world has collected and stored more data than all previous years in recorded history — combined. With over 60 billion connected devices worldwide, this trend will only continue. By 2020, it is estimated that over 30% of all data will be stored in cloud services. Data Mania is truly upon us!

However, you may still be pondering on whether Big Data (BD) could provide true value to your organisation and how effectively you could kick-off such an ambitious initiative. Perhaps you’re in a quandary about how you could leverage BD for competitive advantage, or perhaps you’re actively considering a digital transformation program. Be rest assured that your competitors certainly are. On average, only 0.5% of corporate data is actually analysed, leading to untold numbers of missed opportunities for those that discount it, and substantial benefits for those that do not. Retailers leveraging BD alone have increased their margins by up to 60%!

Digitalization is rewriting the rules of competition, with incumbent companies most at risk of being left behind by new disrupters in the industry. It is no secret that BD has a paramount role to play in any digitalization initiative. This year alone, 73% of all Fortune 1000 companies have reported that they are investing in BD, and that number is set to grow in coming years.

But BD, as the Economist rightly suggests, is a resource. If data is not captured, analysed and exploited, its value becomes inconsequential. This is where Data Science - specifically Data Discovery and Prediction - comes in. Not only can you now report on past actuals as in classic Business Intelligence (BI), but calling on algorithms and machine learning techniques, you can now predict into the future, leveraging your BD resources to feed your predictive models to a high degree of accuracy. Imagine the business opportunities this presents in all functional areas of your organisation!

Big DataHopefully we now have you thinking about BD and the possibilities it provides! But how does this BD initiative impact on the past years of investment in your Corporate Data Warehouse (DWH)? Simply stated, any BD initiative absolutely co-exists with the DWH — only with BD, the type of data, the velocity and the increased volume serves to enrich the DWH platform, providing a much more holistic business picture. BD technology platforms, either on premise or more often on Cloud, allow for this high volume data capture, which more classical relational database technologies cannot.

 

So let's get started!

At ClearPeaks, we offer our customers a pragmatic proof-of-concept (POC) service in which we will work with you to:

Define the right POC business case, the expected ROI, the problem and the desired BD solution.
Deploy a scaled-down POC environment, capturing data from various diverse sources beyond what you are capturing in your DWH. This could be high volume data, real-time streaming data, social media data, etc.
Use Cloud BD platforms to provide a full POC experience, after which an in-house hosting / cloud decision can be made. We start with Cloud as it´s quick to deploy, elastic and cost-efficient.
Demonstrate how the combination of DWH, BD, predictive modeling and powerful visualisations can bring tangible benefits to your organisation, all in an acceptable timeframe and with minimal costs.

 

Some useful Big Data definitions:

Volume, Variety & Velocity: Dealing with large, fast and varied data is now a possibility for any business. The key point now is defining what knowledge can be extracted from the data, not implementing complex software solutions.
Cloud: On-premise hosting of BD platforms is not always possible, and in some cases is not really recommended. The perfect partner for BD is the Cloud. The Cloud enables your BD solution to grow with you in a flexible and cost-effective manner, without the headaches of maintaining complex hardware systems.
Real-time: Provide up-to-the-second information about an enterprise's customers and present it in a way that allows for better and quicker business decision-making — perhaps even within the time span of a customer interaction. Real-time analytics can support instant refreshes to corporate dashboards to reflect business changes throughout the day.
Predictive analytics and machine learning: Predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Apply it to cross-sell products to your costumers, improve customer retention and credit risk assessments, optimize marketing campaigns, increase your revenues and more.

 

Authors:
Gordon, Oscar, Marc

Click here if you would like to know more about our Big Data services!

Business Intelligence in the Oil & Gas sector

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Business Intelligence in Oil & Gas: Decoding the dataWe are excited to be featured once again in Pipeline Magazine with the article "Decoding your data" - about the Business Intelligence Platform we deployed at Abu Dhabi Gas Industries Ltd (GASCO)!

The digitisation and automation of assets offers producers in the global oil and gas sector the opportunity to dramatically increase their efficiency and productivity levels by collecting performance data from their assets. The amount of data being collected in this sector is staggering. Across the Middle East, tens of thousands of remote sensors are collecting millions of gigabytes of data from oil and gas operations.

However, collecting the data is only the first part of the challenge. If operators are to make the most of this wealth of digital information, they must find ways to quickly and efficiently analyse it. If this is done properly, companies should be able to:

* review their past performance
* refine their current production processes in near real time
* and even predict trends as they emerge

All of this should allow them to stay ahead of the profitability curve.

As many of you already know ClearPeaks has provided Business Intelligence (BI) solutions for operators in the oil and gas sector. We have delivered a ground breaking project with UAE gas processing giant, Abu Dhabi Gas Industries Ltd (GASCO). We began working with Gasco in 2010, when the company decided that it wanted to streamline its operations through better use of analytical data.

With the GASCO BI Platform, we have delivered arguably one of the most advanced Oil & Gas Analytics environment in the Gulf region. It extends the capabilities of Oracle BI ensuring optimal customer experience and user adoption, whilst leveraging the Oracle platform’s versatility and robustness. We are proud to announce:

* a user adoption of over 1000 active users across all departments and production sites
* from Finance, HR & Procurement to Gas Plant Production & Maintenance
* addressing users’ needs from C-level to site management and down to operational analysts
* consuming more than 300 corporate reports and over 15 corporate BI dashboards daily

The entire enterprise is now enabled on one integrated platform.

Read the full article here!

Pipeline Magazine delivers the latest Oil, Gas and Energy news from the Middle East and across the globe,  and is the world's leading specialist magazine for OSS, BSS, ICT, and ICE technology news and information.

If you would like to receive more information about the GASCO BI project and how this experience can benefit your organisation, please contact us to receive a copy of the Success Story e-book or to hear about it directly from our team!

ClearPeaks featured in Pipeline Magazine!

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ClearPeaks featured in Pipeline Magazine
We are excited to be featured in the Suppliers Focus section of this month´s issue of Pipeline Magazine!

Pipeline Magazine delivers the latest Oil, Gas and Energy news from the Middle East and across the globe,  and is the world's leading specialist magazine for OSS, BSS, ICT, and ICE technology news and information.

We have been active in the Middle East for eight years now,  with offices in Dubai and Abu Dhabi, allowing us to provide our award-winning services to meet growing demand in the region, where the shifting economic landscape makes BI is an increasingly valuable asset. We are proud to say that our operations there are constantly expanding, and this year alone we will be delivering several major projects, with more “in the pipeline” for the coming years.

Read the full article here: 
Pipeline Magazine June 2016 - Suppliers Focus!

 

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