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BD oilpump QiuJuSongTechnavio’s latest global big data market in the oil and gas sector report highlights the top three emerging trends predicted to propel big data market growth through 2020

Navin Rajendra, Technavio’s lead industry analyst for enterprise application research, said, “Primary activities of an oil and gas company, which involves exploration, drilling, production and maintenance, generate large amounts of data. As it is almost impossible to analyse such large volumes of data using traditional data applications, organisations require big data analytics and solutions. With new advances in the sector, big data finds increased application for tracking machinery, equipment, and personnel performance.

“Over the next four years, big data solutions will be increasingly used by oil and gas companies to effectively track and manage enormous volumes of data generated. Big data analytics is slated to play an important role in the sector to optimise business decision making and innovation,” added Navin.

The trends that are expected to impact global big data in oil and gas sector as suggested by Technavio include:

• Adoption of user-friendly predictive modelling
• Increased demand for advanced analytics
• Emergence of cloud computing technology

Adoption of user-friendly predictive modelling
There has been an aggressive introduction of user-friendly predictive modelling tools, which are offered either independently or as embedded features of big data solutions for the oil and gas sector. Enterprises in the oil and gas sector have identified predictive modelling techniques as an efficient tool to accelerate decision-making. These organisations have started using collaborative structured and unstructured data to enhance pattern recognition and optimise oil and gas operations.

Increased demand for advanced analytics
Planning and forecasting of production data, data generated from wells, and sets of data produced during seismic acquisition are some of the applications of advanced analytics. Advanced analytics helps in enhancing exploration and drilling efforts. For instance, comparisons between land under exploration and land of well performance can assist in recognising shale basins effectively.

Various advanced analytics projects include seismic data processing during exploration, competitive intelligence for development, identifying abnormalities during production data processing, and predictive maintenance for maintenance efforts.

Emergence of cloud computing technology
The emergence of cloud-based solutions has enabled oil and gas organisations to increase their efficiency and reduce the cost of deploying valuable big data solutions. Enterprises are therefore investing in cloud-based solutions to store the data of their applications, infrastructure, automation, and collaboration. Cloud computing technology enables access to this information at any time and from any location.