The use of big data analytics in the GCC oil and gas industry is still in its early days when compared to other regions like Europe and North America, said market research firm IDC
Big data is a new generation of technologies and architectures designed to economically extract value from very large volumes of a wide variety of data by enabling high-velocity capture, discovery and analysis.
According to the results of IDC’s Middle East CIO Survey 2014, only three per cent of the respondents had already implemented big data within their organisations and 32 per cent were considering it for 2015.
A spokesperson from IDC said that the adoption of big data in the GCC is still in its initial days but it is clear that awareness around the concept and its potential business impact is rapidly rising across the region.
“The adoption of big data in the GCC-based oil and gas companies is due to their critical need to turn the massive amounts of raw data they collect from their fields into actionable insights that can guide operations or business decision making,” added the spokesperson.
The survey indicated that oil and gas companies were struggling with increased volumes of data, growing velocity in data capture and a wide variety of data sources. However, many oil and gas companies suffer from a lack of capacity to analyse the data produced in the fields.
The spokesperson advised the oil and gas companies to create a big data strategy, which would ensure investment is aligned across all five key aspects of big data maturity — intent, people, process, technology and data.
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