Companies that automate migration and day-to-day management plus standardize connectivity will gain a crucial edge, finds Frost & Sullivan
SANTA CLARA, Calif., Dec. 7, 2020 /PRNewswire/ -- COVID-19 has left no business untouched and impacted more than 75 percent of the world's manufacturing output. The oil and gas (O&G) industry is no exception and has undergone a tectonic and likely enduring change since the start of the pandemic. One of the outcomes of this altered business environment is the surge in the adoption of cloud technology. Modern, well-designed cloud architecture and open digital tenets will help operators avoid any new integration debt as the industry pushes toward more integrated asset management practices powered by high-performance computing and artificial intelligence (AI) technology.
Frost & Sullivan's latest thought leadership paper, Seven Business Imperatives for Industrial Companies to Prepare for the New Normal, discusses the impact of the COVID-19 pandemic on industrial companies and the manufacturing process worldwide. It presents the insights and expertise of industry thought leaders and the lessons they are learning about the smart, actionable strategies an organization can leverage as a new normal unfolds.
To download the complimentary white paper, please visit: http://frost.ly/4po.
"Cloud-based technology is empowering cross-functional and geographically dispersed teams to work more collaboratively and reduce time-to-decisions through unlimited scalability," explained Chirag Rathi, Consulting Director | Industrial, Frost & Sullivan. "To thrive in the current marketplace, the industry needs to proactively embrace open transformation in culture, process, and technology. Modern frameworks such as DevOps are key components that will help operators combine digital and agile. The O&G industry can harness a DevOps platform and develop an automation roadmap to streamline processes and reduce lift-and-shift challenges. It can also leverage the flexibility of hybrid clouds to reduce overall IT costs by investing in the right open-source technologies."
Kevin Behr | Senior Director, Global Transformation Office, Red Hat, added, "Defining digital transformation in a meaningful way that contributes to intelligent strategy can help provide a once-in-a-generation opportunity for O&G companies. It is important to realize that the entire energy complex is undergoing a digital transformation at the same time, so engaging in this effort is critical to self-determination. Embracing open architecture—open source, open innovation, and hybrid cloud—is central to O&G companies becoming future-ready and eliminating barriers to cloud adoption."
The key imperatives for cloud adoption for the O&G industry in a post-COVID environment include:
- Understanding the changing market drivers for cloud adoption in the upstream industry.
- Being aware of the tenets of modern cloud architecture.
- Identifying the benefits of open source, open innovation, multi-cloud, and mobility for cloud adoption.
- Recognizing the advantages of hybrid cloud in current and future cloud use cases.
Organizations that are agile, adjust operationally when needed, and collaborate and execute smoothly across departments will be the most likely to prosper and, perhaps, even shape the new normal.
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SOURCE Frost & Sullivan