In the third quarter of 2021, mentions of big data in the documents of oil and gas companies were 66% higher than in the third quarter of 2020.
Overall, the frequency of big data convictions between October 2020 and September 2021 was 40% higher than in 2016, when GlobalData, which takes our data for this article, first began tracking key issues identified. in company documents.
When oil and gas companies publish annual and quarterly reports, ESG reports and other documents, GlobalData analyzes the text and identifies individual proposals regarding the destructive forces that companies face in the coming years. One of these topics is big data – companies that have succeeded and invested in these areas are considered better prepared for the future business landscape and better equipped to survive unforeseen challenges.
To assess whether more data in the resumes and strategies of oil and gas companies, two indicators were calculated. First, we looked at the percentage of companies that have mentioned big data in statements at least once in the last 12 months – 66% compared to 42% in 2016. Second, we calculated the percentage of total proposals analyzed that referred to big data.
Of the 50 largest employers in the oil and gas industry, Keppel Corp most often resorted to big data between October 2020 and September 2021. GlobalData identified 85 big data-related proposals in the Singaporean company’s documents – 1.3% of all proposals. 3M named big data in second place – the issue was mentioned in 0.3% of proposals in company documents. Other major employers that mention big data included NOV, Honeywell International and Vietnam National Petroleum Group.
In all companies of the oil and gas industry, the documents published in the third quarter of 2021, in which the greatest attention was paid to big data, came from SK Inc. Of the 1,263 proposals in the document, 54 (4.3%) referred to big data.
This analysis gives a rough idea of which companies are focusing on big data and how important the issue is in the oil and gas industry, but it also has limitations and needs to be interpreted carefully. For example, a company’s more regular mention of big data does not necessarily indicate that it is using new techniques or prioritizing an issue, nor does it indicate whether the company’s big data businesses have had successes or failures.
GlobalData also classifies references to big data by a number of subtopics. Of these subtopics, the most common topic in the third quarter of 2021 was “data analytics,” which accounted for 45% of all mentions of the big data subtopic by oil and gas companies.
https://www.offshore-technology.com/features/filings-buzz-in-oil-and-gas-industry-66-increase-in-big-data-mentions-since-q3-of-2020/ Since the third quarter of 2020, the number of mentions of big data has increased by 66%.