“Data is the new oil. It’s valuable, but if unrefined it cannot really be used. It has to be changed into gas, plastic, chemicals, etc to create a valuable entity that drives profitable activity; so must data be broken down, analyzed for it to have value.”
We could probably do an entire of series debating the phrase "data is the new oil". We've certainly all heard it. This article - a detailing of insights from the SPE Data Science Convention this past April - expands on this idea even further on how it is particularly relevant in the Oil & Gas Industry.
The Nuts and Bolts of the Digital Oil Field
The Digital Oil Field is the "integration of technology, process, and people for value creation." Read on for a break down of how these three elements combine, and to learn about some of the benefits that can come when your organization adapts to the Digital Oil Field.
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