Sectors

How Energy Companies Are Missing Big Data Opportunities

09th Oct `13, 03:56 PM in Sectors

Oil and gas companies need data, particularly big data, to reach critical strategic decisions. Yet, a report issued…

BDMS
Guest Contributor
 

Oil and gas companies need data, particularly big data, to reach critical strategic decisions. Yet, a report issued by Molten Group, a global energy research firm, claims that most giant energy firms are failing to recognize the full value of big data and are neglecting to manage it as a useful asset.

The study finds that while investment in all types of data is high at big oil and gas firms, data management remains a low priority. That’s unfortunate, since the rewards for companies that manage big data effectively are great, including achieving the highest possible accuracy in the all-important Reserves Replacement Ratio.

Read More
MORE FROM BIG DATA MADE SIMPLE