by Matthew Johnson
Big Data is radically changing how businesses makes decisions. Where intuition used to dominate, companies are now thinking carefully about the kinds of questions that come up in their work and how Big Data can help answer them. In the oil and gas business, companies often want to know where drilling and fracturing is happening so they can find markets for their services. Other companies want to get a detailed market outlook so they can determine if they need to expand or cut back on costs. Billy Bosworth, the CEO from DataStax, one of the top cloud computing companies, has a saying that “Ten years from now, when we look back on how this era of big data has evolved…We will be stunned at how uninformed we used to be when we made decisions.” This quote, now a couple years old, is still extremely relevant.
Ten Years from Now,
When We Look Back at
How This Era of Big Data Evolved…
We Will Be Stunned at How
Uniformed We Used to Be
When We Made Decisions
-Billy Bosworth, DataStax CEO (2015)
I was thinking about this recently while reading a blog post from Tom Smith at the Big Data Zone. He interviewed a couple dozen executives involved in Big Data and then shared some interesting insights. He says that companies should remember where data is coming from, and that “mixing corporate crown jewels with crap from the internet is not smart.” Curated data must be cleaned up, and there are a variety of ways of doing this. The real value of Big Data, in Mr. Smith’s view, then comes from continuously analyzing the data you have collected to search for new insights. The best things to find in the data are “simple, yet valuable” insights that are easily understood yet not available from traditional data processing.
Taking The Next Steps
The recommendations from Mr. Smith are very much in line with what we do at Primary Vision. The “jewels” of our data sets are collected from a variety of target sources and no two databases are the same. While the raw data might be useful to some, the process to which we validate this data is what separates us from the competition. This cleansing process requires two important keys: time and customer feedback. This investment is an important one, one that will make you better at your job and ultimately your company more profitable so make sure everyone is on the same page commitment-wise. you cannot leverage big data unless you’re willing to commit time and feedback to your provider. if you take anything from this blog, its that last sentence.
Make Our Big Data Work For You
Rarely we get clients who just want a simple output. They come to us for useful intelligence about the fracturing marketplace in North America. We use our data sets to produce analysis in a format that can be readily used. With your help and time, we can uncover your jewels to help you make better actionable decisions.
The most recent offering from us at Primary Vision is the Frac Spread Count Report, which offers both weekly updates on projected activity and access to our historical data. Customers can get the information in top-line charts that can be easily digested or through the reams of more granular data that we also supply. You can subscribe to our report at www.fracspreadcount.com. You can also contact at info@pvmic.com for more information or a demonstration on how our products can help your business.
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