Digitalisation driving competitiveness

Abstract

Digitalisation allows industrial companies to get a highly granular view of their assets which, when viewed in conjunction with data from more traditional business systems, can generate quicker and better insights to drive competitive advantage. Companies will be poised to take their performance and productivity to the next level of efficiency, safety and security. Case studies increasingly show that cost-effective digital technology facilitates improve monitoring, and more collaborative operations drive greater productivity at reduced costs and risk. Using oil, gas and chemical industry examples, this paper discusses the vertically integrated data model from edge devices to cloud data repositories and presents how analytics and big data technologies gain insights into production, maintenance efficiency and safe operations, and enable efficient business processes. Significant competitive advantage will fall to companies that are able to develop an end-to-end digitalised ecosystem that delivers timely, manageable data-driven insights to optimise decision-making. Being able to leverage insights from big data models will help savvy operators steal a march on competitors that are slower to read the market signals because of an outdated method of forecasting.