Top 7 digital oil and gas trends 2021

The newest digital trends are pretty advanced, which is why companies in the energy industry are clawing for companies like to help them push through the more difficult sides of digital innovation. Here are seven digital trends that are dominating the year 2021.

1 – Blockchain Asset Transfer

The energy industry spans around the globe, and the fact is that nobody likes waiting days and waiting over weekends for their money to move. While blockchain asset transfer may be new, it is also fairly secure, and allows for quicker and more efficient asset transfers. As a result, the delays that usually occur between the supplier and buyer are no longer an issue when dealing with companies and customers overseas.

2 – Blockchain Tracking

Taking its cues from the tracking of foodstuffs around the globe, the gas and oil industry is able to track everything from chemicals to moving parts. Thanks to blockchain technology, labels can be scanned as they pass through hubs, and the blockchain is updates. Not only does this give us a traceable timeline for the transport of chemicals or items, but it also helps to highlight areas where the transport process or manufacturing chain is breaking down or slowing down. This helps avoid delays, streamline, and helps improve the efficiency of international business processes in the oil and gas industry.

3 – AV/VR Repair and Maintenance

A little like the holodeck maintenance procedures seen on Star Trek Voyager episodes, it is possible to see and repair things using VR or AR. Not only that, but it is possible to use the technology between numerous people, allowing one set of workers to leave notes for others. Rather than maintenance people reading pages of data and notes, they can see the data labeled on the devices themselves or walk through a VR version of the device to see what other people have done and when.

4 – AV/VR Design

Similar to AV/VR maintenance, people are able to craft models that they can see in virtual or augmented reality. This is often used to figure out if something is feasible, or even if it will work in the real world. The virtual world allows for the addition of other physical factors that are difficult to test in the lab. Things like the addition of extra pressure, added heat, and energy loss on a larger scale.

5 – Predictive Maintenance

Using trend models built from their own use of certain tools or equipment, or the models sent by the manufactures, it is possible for computer programs to figure out when a device or piece of equipment will need maintaining. We take our cars in to be serviced after several thousand miles, and we can do this because a car has a simple transport function and measures the miles it travels. However, a complex piece of machinery has many uses and many moving parts, most of which are put under different strains every day. Using models built from manufacturer specs, historic data and trends, a piece of software can figure out what will need maintaining next, so that it may be fixed and/or maintained before it fails. Using models built from manufacturer specs, historic data and trends, a piece of software can figure out what will need maintaining next, so that it may be fixed and/or maintained before it fails. Acoustic pinger and receiver systems use similar technology for locating pigs.

6 – Cloud Computing

This one is hardly a surprise in the year 2021, but again, the energy industry on the whole has been slow on the uptake. Where the computer gaming industry has been using Cloud computing since its wide scale deployment, the energy industry has been less involved. Nowadays, rather than setting up data centers in their own sub-basements, companies in the energy industry are able to use Cloud computing to do all the hard work. Plus, in many cases, Cloud computing is easier and cheaper than maintaining a server farm or data center in their own building.

7 – Big Data Analytics

The use of big data is now so prevalent that it is being used for everything from finding faults in sales funnels to dealing with toxic customers. One of the reasons why it is becoming more popular, especially in the energy industry, is because the manipulation of big data analytics has become far easier. The technology and software used to do the hard work has become more accessible and more intuitive. You no longer need a degree in computer science to be able to understand what the software has to tell you.

Plus, buying big data is becoming easier, and the use of online services means that collecting big data is easier too. It has taken the oil and gas industry a little longer to hop on the big data wagon because there are fewer ways for companies to collect information, but these days we have everything from digital fuel cards to online cookie tracking. Companies in the energy industry have been able to weave the most commonly used collection methods into their business process, allowing them to collect information as easily as an online eCommerce store or chain of garages.

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