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Data becoming strategic, critical asset for oil and gas industry’s success

Oil and gas companies continue to improve the ways in which downhole and surface data is collected and used to optimize drilling and production operations. However, in order to take full advantage of this data, companies must develop algorithms that can process large amounts of information at high speeds, according to Peter Sondergaard, Senior Vice President at Gartner, a Connecticut-based technology research and advisory company. Algorithms have the power to analyze data and provide companies with recommendations to make operations more efficient, and, in some cases, even fully automate operations. As such, the success of a business in the future will depend on the quality of its algorithms, Mr Sondergaard said. Watch the video from the 2016 Halliburton Landmark Innovation Forum on 23 August in Houston to learn more.

 

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