Opportunities in Big Data for Technology Consulting Firms 1
Technology consulting firms are faced with many opportunities in the ever-changing landscape of new technology. The oil and gas industry is no stranger to Big Data. Data has grown exponentially as our data-collecting points of measurement and sensors mature and evolve at rapid rates. We are able to capture more data in greater varieties than ever before. However, the challenge lies not in creating or storing the data, but in processing the increasing volumes.
Technology Consultants understand that compared with the early days of Exploration and Production when early seismic, pressure and flow sensors had to be retrieved manually to record the data1, today new technology allows sensors in subsurface wells and surface facilities to record data in real-time. In the Power & Gas sector, traditional meters once provided measurements only monthly, but newer smart meters now have the ability to both send and receive data in intervals of as short as an hour or less.
Technology Consulting Firms recognize that big data has been around for a long time, but tools in recent years have really evolved, empowering small and medium-sized operations to better manage the increased data flow. Large companies often have established data warehouses, but top technology consulting firms see the opportunity for even these larger companies to benefit from the implementation of new tools and statistical models in a way that cuts through the noise and extracts more value out of data they already have.
Technology consulting companies are in a rich landscape ripe with opportunity. Because new technologies have created data surges for even the smallest organizations, any company is a candidate for consulting services regarding big data. But top technology consulting firms would do best by working with existing clients. Having a good understanding of the business and a strong relationship help consultants determine the right questions to ask before finding the answers in the business’ data.
Technology consulting services see the opportunities regarding Big Data everywhere, regardless of business size and across industry sectors. It is up to technology consulting firms to help clients identify these opportunities and create value that they did not know was possible.