Turning Data Into Knowledge

Turning Data Into Knowledge

Drakewell’s Chief Technology Officer, Shane Kempton, spoke to energy industry professionals at the Mid Continent Digital Oilfield Conference in Tulsa, Oklahoma. The message he delivered was simple: It is time for the energy industry to embrace technology.

We have watched from the sidelines as other massive industries have embraced Information Technology; the storing, manipulation, and communication of information that makes us better, smarter, and faster than ever. With the shift in the market and the looming retirement of a generation, it’s time for the energy industry to utilize technology. This is not an option; it is a requirement.

The energy industry in North America is facing political and market pressures from foreign players with whom they cannot compete by continuing to conduct business in the dark age. The only way for the industry to continue to stay relevant is to develop more efficient processes and workflow management.

There are several barriers to the adoption and implementation of technology that have prohibited the industry from making these changes. When the market is ripe, the industry ignores the need for efficiencies because implementing technology is seen as a hassle and their margins are solid, so why bother? Now that we’re facing a market lull, the industry has become unsure about investing in technology due to uncertainty.

Beyond financial reasons, software can be difficult to implement and many solutions are not designed with the end-user in mind, making their implementation extremely challenging, if not impossible.

These challenges, however, are not unique to our industry and are capable of being overcome. As we push near the forced adoption of efficient processes, it’s time to begin to look at your options and remain ahead of the curve.

Check out Shane’s full presentation here: