The last few decades brought about a data surge in the oil & gas industry. These data - often unstructured and not interpreted real-time - birthed a mountain of buzz words for the 21st century. Such words include "data wrangling", "data curation", "data integration", "data analytics" and the likes.
Ultimately, Data Democratisation is the end game; that is, "the practice of making the right data available to the right people at the right time". You'd agree that if a bank of relevant data is unavailable to the right people when they need it the most, then it is completely irrelevant and of negligible significance to decision-makers.
Bernard Marr, a data expert suggests that, “… data democratisation is a game changer. When you allow data access to any tier of your company, it empowers individuals at all levels of ownership and responsibility to use the data in their decision making.”
Envisage a scenario where decision makers can access the right data seamlessly, and work from the comfort of their homes, coffee shops and car parks. What a profit!
There are tremendous advancements in technology that facilitates data democratisation. At CypherCrescent, we are pioneering such advancements in well, reservoir and facility management (WRFM). Our first-of-its-kind software solution- SEPAL WRFM helps oil & gas companies to democratise their WRFM data via the following WRFM digitalisation model:
- Integration of WRFM Interpretations
- WRFM Analytics
- WRFM Data Democratisation
Thus, driving better and more informed decision-making.