Digital Transformation in Energy

For those of us who are not in IT, the words digital, digitisation and digital transformation may seem peripheral – technologies that affect our business but that we don’t really need to understand. We know – if only from using smart phones – how much the digital revolution has changed the way we live; but it’s now set to change the way we work and no manager can afford to ignore the potential of the new wave of technology available to business. The oil and gas business has not always embraced new technology as quickly as other sectors, but Digital Transformation (or DX) is now a hot topic across all industries and it has great potential for the energy sector – as long as companies view it as a strategic priority rather than an IT project. As we launch our new Digital Transformation course, we’ve recently completed a study of how oil and gas companies are addressing this.

You can download our paper here.

The key take-aways are:

  • It’s about people and leadership, not technology. “Choosing the right technology” ranked 9/10 in importance compared to “Defining and communicating a clear strategy”, which topped the list. Adapting the culture of the organisation and ensuring buy-in right across the company also ranked highly.
  • Most firms are looking to develop their existing staff: there will be plenty of new career opportunities for those willing to learn new skills. The market for data scientists and developers is tight, and oil and gas firms will be competing with other, often more attractive, industries for talent. Better to grow your own.
  • There will be cost savings but the primary benefit will be better and faster decision-making

There are lots of different ways to approach DX and we’d love to hear your views on this.

 

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