Earlier this week, TIBCO CTO Matt Quinn kicked off the Transform 2014 world tour in Houston, Texas. At this special event focused on the oil and gas industry, Quinn detailed the different shelf lives of data based on the source—sensor data may need to be acted on in real time, whereas other data types can be stored for precision analysis later. TIBCO is unique among vendors for providing an infrastructure that can accommodate this heterogeneous reality that is challenging many companies today. Companies using TIBCO’s infrastructure combine knowledge of what has happened (big data) with the ability to influence what will happen (Fast Data).
Self-Service BI Deployed to a Large User Group
Gartner’s Research VP Kurt Schlegel took the stage with Gwyn Thorn, analytics and visualization solution lead at Shell. Together they outlined the advantages of rolling out self-service business intelligence (BI) across an organization and looked at the challenges associated with deploying a system across centralized and decentralized teams. With just 14 supporting staff, Thorn rolled out TIBCO Spotfire to 11,000 users at Shell. She provided valuable advice on the types of people who get the most out of analytics: They have a sixth sense about analytic results, an inherent curiosity, and often an outgoing nature.
Paul Murray, president and CIO of Upstream Digital Intelligence, noted that team-based analytics plays a big part in achieving successful results all over the world. Murray used Kuwait Oil Company, one of his clients, as a prime example. At KOC, the iterative collaboration among engineers improved their understanding of production conditions. This success is seen most dramatically by an ROI of more than $400 million in just two years. These engineers not only generated new insights through the power of predictive analytics, but were also able to create better workflows that are fostering continuous improvement in some of the most complex and challenging physical environments.
Analytics Assists In Business Maintenance
TIBCO partner Opportune discussed the power of analytics to assist with maintenance issues in a downstream refinery run by PBF Energy. It combined data from SAP Material Maintenance and Plant Maintenance, then they applied a Weibull analysis to further understand reliability of machines and components to better manage planned and unplanned maintenance and repair costs. They can then use the analysis to learn about vendor performance and identify areas for improvement.
EY (formerly Ernst & Young) focused on how industry leaders are exploring new opportunities for getting value from analytics in areas such as risk and portfolio management. The emerging role of the chief analytics officer (CAO) came to light and how that might be a common job title in five years’ time as more organizations look to create an analytics centers of excellence responsible for pushing the value chain of analytics into all areas of the business.