Organizations in the petroleum industry are no strangers to large volumes of data. With the right technology solutions, these companies can move beyond traditional real-time monitoring to more agile real-time prediction. By rapidly analyzing incoming technical and business data—and applying that information to complex models in real time—they can generate tactical insights that help increase drilling and production performance while preventing problems. By quickly searching and analyzing a large volume and variety of competitive intelligence, such as news about competitive mergers, acquisitions or new investments, they can substantially improve strategic decision making.
Technology in the energy and utilities industry is becoming increasingly advanced, including that of smart meters and smart grids. Although the evolution of these technologies provides companies with tremendous business insight, they also generate unprecedented data volume, speed and complexity. This white paper examines the business requirements, technical challenges and IBM solutions for a variety of data-driven decision-making and planning imperatives for companies in this industry.
Utility companies are facing a step change in the industry from many factors at once: social and political pressures on generation, increasing data volumes from smart grid and advanced meter infrastructure (AMI) technologies and sweeping regulatory changes amongst. Evolving technology in the utilities space has generated unprecedented data volume and complexity which will continue to grow as the industry continues to transform and evolve.