Adrian Booth | Jeff Hart | Stuart Sim
For any sizeable company, a state-of-the-art data and analytics platform is no longer an option but a necessity. Such a platform acts as a central repository for all data, distills them into a single source of truth, and supports the scaling up of sophisticated digital- and advanced-analytics programs that translate data into business value (exhibit). Companies without one risk leaving serious value on the table. For a utility, for instance, a data and analytics platform can cut costs by up to 15 percent in some operational and maintenance areas, while savings in oil and gas companies’ upstream activities can run even higher, at up to 20 percent.