Peaxy introduces technology to address what it sees as a growing need for better access to Big Data by oil and gas engineers..
Peaxy introduces technology to address what it sees as a growing need for better access to Big Data by oil and gas engineers.
The growth in unstructured data, or Big Data, in the oil and gas industry means that the traditional IT-focused approach to storing this data makes it difficult for engineers to access data sets.
San Jose, Calif.-based Peaxy Inc. was founded on the premise that, in the next 18 months, oil and gas corporate boardrooms will start to view this unstructured data as a precious asset as the industry sees to boost productivity, efficiency and safety while seeking a competitive market edge in a time of declining oil prices, Peaxy President and CEO Manuel Terranova told Rigzone in an interview.
“Regardless of whether it’s an offshore company, a company focused on shale or an oilfield equipment supplier, we’re betting on a transformation to occur in boardrooms,” said Terranova.
Large volumes of unstructured data is nothing new to the oil and gas industry. For the past 20 to 25 years, the data management strategy of oil and gas companies has been largely defined as a storage strategy in the realm of the IT infrastructure dialogue. Decisions on data management strategy typically were made at the lower levels of an organization, not at the C-suite level.
Peaxy anticipates that companies will rethink this “bits and bytes” storage strategy to one of greater access for workers as companies seek to utilize predictive maintenance to anticipate equipment failures before they occur. For predictive maintenance to occur, engineers need ready access to unstructured data sets.
“That’s the big challenge we’re trying to solve,” Terranova said.
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