Cloud is a powerful foundation on which to build the data capabilities that are needed now. Companies that employ cloud (and cloud-only analytics tools with computing requirements that can only be addressed with cloud) to harness the power of data will enjoy a clear competitive advantage.
Cloud platforms enable near real-time connectivity between what have traditionally been siloed functional areas. This connectivity makes it possible for companies to build and leverage advanced analytics to analyze, explore and establish causal relationships between various functions. An understanding of these functional relationships, in turn, enables companies to take an integrated business view to decision-making.
Ultimately, it is a collaborative environment that enables the energy to become sustainable.In an industry that is inherently volatile and cyclical, this integrated view is critical for developing resilience, as well as the flexibility that is needed to scale up or down with fluctuating cycles. Energy companies that fail to take advantage of cloud’s connectivity, flexibility and security will find it exceedingly difficult to achieve the business resilience, variable cost models and value-optimization capabilities that enable competitiveness.