Qualitative analysis of Big Data Analytics in the Oil & Gas industry

Oil and Gas (O&G) industries consider Big Data Analytics (BDA) as one of their IT initiatives with positive impacts on different aspects of their organisation. Some organisation’s BDA capabilities arenot yet mature and as large volumes of data are acquired every day, organisations experience difficulties in capturing and sharing data. Two thirds of professionals believe BDA is key to better business as it continuously improves performance and processes by 8-30%. Only 13% of businesses acknowledged their big data capabilities were mature. As organisations move toward digital transformation, it is vital to know the views and opinions of employees in the O&G industry that have experienced the partial/full potential and challenges of BDA to improve their resources. This paper discusses BDA’s different stages of maturity, identifying key technologies and future trends of BDA to provide fast, accurate information to business. A collection of relevant articles from a variety of case studies, journals, white papers, newspaper articles were reviewed. Additionally, interviews were conducted with people in the O&G industry from different countries and companies. NVivo software was used for qualitative analysis of both the literature review as well as the interviews. The outcome here is a framework for the O&G industry to help them become a data-driven organisation and aid in implementing initiatives for business improvement.