Big Oil is the latest industry to turn to Big Data software to shave costs.
Pacific Drilling operates rigs in far-flung places like Nigeria, where the tab for feeding a 200-person crew, transporting equipment back and forth across 250 miles of ocean, and drilling 40,000 feet below sea level runs at half a million dollars a day.
Managing that operation is no simple task. Using new technology built by SAPSAP.XE -0.60%, this summer the Houston-based company, which operates rigs for ChevronCVX -0.89%, started monitoring thousands of pieces of equipment on rigs in real time. For example, on a generator that helps power the ship, the company tracks data points like the vibrations coming out of the engine, the amount of heat it produces, how fast it’s running, and its oil pressure.