Major E&P challenge: Fully exploiting data’s extraordinary value

E&P companies are finally seeing data as a powerful asset, with decision-makers recognizing that the value from data can be game changing. For any company, however, it begins with getting on the same page with what data actually means. Unfortunately for many E&P companies the data definition is focused on structured data (machine sensor data). In Silicon Valley, data is viewed much beyond that.

Data also includes an important key subset, “Human-Generated Data,” which is unstructured and richer in context. Human-generated data can be defined as e.g., images, pictures, videos, comment and texts, which often generate insights far beyond traditional machine data only. Today this subset of data is either shared primarily in peer-to-peer discussions via texting and/or in emails.

The problem with this mode of communication is that the key insights remain between peers only and/or at some point may end up in an internal share point portal.  As a result, a huge challenge exists at E&P enterprises which will not let them fully exploit the value of data. Why? Most human-generated data is either largely being ignored due to complexities of accessing it and /or needs of on-premise systems to mine/pull it requiring huge upfront investments…

 

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