Contribution of Oracle Software in Oil & Gas Industry
Upstream, Midstream and Downstream
Why is Oracle software a wise choice for business users?
Oracle offers top-notch solutions for the following essential components in contemporary enterprise:
Ì Management of Data
Ì Project Supervision, Talent & Asset Management
Ì Business Intelligence
Ì Financial Administration
Ì Supply Chain/Logistics
Ì Other Field Services (Gas & Oil)
Oracle may not be the most well-designed database or quickest platform. However, it takes a proactive methodology and introduced useful features which are well ahead of current market demand.
How does Oracle fare in the oil and gas sectors?
The upside of Oracle is that it boasts of an extensive solution in terms of information management for exploration as well as production. It utilizes the Professional Petroleum Data Management model which is the hands-down choice in an industry that understands the importance of standardized solutions and efficient management of data. It is the only technique which puts together 3-D geospatial visualization with controlled and unstructured operational facts and figures. At present, 3-D image methods are vital in geospatial assessment. The tri-dimensional features of geospatial products increase the capacity to explore data and help in discovery processes.
Moreover, this much-preferred application quickest time associated with value and lowest costs for comprehensive oilfield solutions. Oracle employs Customer Relationship Management models for oil service and drilling firms. It is the only software which provides users with an absolute and amalgamated technology. These range from standard applications to simple management and cost-saving techniques.
Oracle makes sure that oil and gas companies gain access to an all-inclusive set of business applications, storage and servers. These solutions have been designed to enhance the effectiveness of each facet of this enterprise. The program incorporates pertinent information for the digital oilfield through data warehousing, the People Soft Enterprise Performance Management (EPM) and Hyperion Performance Management Application.
The Oracle Database along with the so-called Exa-Data and database advanced analytics. It introduces a quick, dependable and economical program for data warehousing which ascends effortlessly to conform to intricate reporting processes and analytics requirements of the most demanding business firms.
Oracle EPM has been proven to deliver a wide-ranging suite of performance management applications to include administration, tools for reporting and conveyance of mobile information. Oracle Corporation is considered the industry leader in business analytics and Enterprise Performance Management. The U.S. multinational Information Technology Corporation develops and markets enterprise software commodities and computer hardware configurations.
Oracle focuses on strategy management; planning, forecasting and budgeting; financial reporting; and, profitability/cost management.
With strategy management, clients can establish value in public sector service and stakeholder returns. This can be accomplished if strategic objectives go down without disruption from management to the rank and file. Oracle aids top management to formulate calculated plans and delineate strategies based on systematic processes. It helps managers to bring together performance with targets, keep track of progress and relay accurate information across the organization.
It is a tool for planning, projections and making financial spending plans. Remember that modern enterprises must be capable of coping with distraction generated by tremendous market instability. This can be done to bring down operational costs, increase profitability margins and manage cash flows effectively. The Enterprise Business Planning of Oracle reinforces planning with its comprehensive suite.
At the same time, the EPM supports financial reporting by helping users to become accustomed right away to evolving business and regulatory prerequisites. It lessens risks, enhances control and delivers faster and correct insights to various stakeholders. On the other hand, the Oracle Hyperion Profitability and Cost Management software will help users comprehend the real cost and productivity drivers within the enterprise.
Oracle speeds up development and deployment of assets. The AutoVue Enterprise Visualization solution addresses the issue of information sharing and collaboration. In fact, it can transform business functions by delivering a particular platform to examine, print and secure collaboration on almost all kinds of documents. It can be incorporated into Project and
Product Life Cycle Management as well as Asset Life Cycle Management
Oracle Project Resource Management facilitates management and deployment of human resources and project work assets. It can be achieved by deploying eligible resources for global projects. It consolidates information to give power to projects, resources and middle-level managers. The benefits of using this application include the proper management of resource demand and supply; leverage individual and intellectual resources; utilization of said resources; and, rationalization of worldwide operations.
At present, oil and gas conglomerates are striving to maintain equilibrium between capital project investments for permanent worldwide development and the degenerating background of relaxing temporary demand. Companies with prospects for success look forward to the usage of Oracle. The scenario right now is that most companies engaged in exploration along with the production of oil and gas are restoring older infrastructure while integrating fresh technologies to open up upstream and proximate production.
Can this be done by companies that want to stay competitive while ensuring that existing projects are carried out successfully? Take a look at the Primavera Project Portfolio Management Platform of Oracle. This product line has been delivering these solutions to some of the world’s biggest oil and gas firms for more than three decades. These applications allow these companies to administer projects of various sizes and difficulties. Said solutions combine with other essential structures to facilitate precise and accessible information for each of the concerned organizational zones. The expected result is restructured organization-wide collaboration at all levels within the company. There should be excellent business insights.
It is imperative for these enterprises to plan and implement initiatives while coping with the perceived weakening of global demand for said products. There are several concerns for these organizations. Determine capital projects that should be empowered. The fast-changing demand for energy translates to improved exploration and capital project investments that call for an extreme degree of firmness and analysis prior to making commitments. Primavera applications
Primavera portfolio management guarantee accurate data you need to categorize and choose projects for provisional and continuing business targets. However, it is also important to pinpoint potential risks and decide on those that are worth opting for. The issue here is to moderate or manage the threat. This is why Primavera should be your choice because it provides potent yet easily understood analytics required for forecasting. Users can deal with problems efficiently long before these turn into a crisis. Hence, companies can implement desired changes promptly.
Oracle is acknowledged as the leader in business analytics despite competition posed by SAP HANA. Oracle has the capacity to produce a total and real-time system that guarantees tremendous performance which is based on established technologies. For instance, the Exalytics In-Memory Business Intelligence apparatus that ensures the fastest performance globally for planning and business intelligence. Exalytics has been pre-integrated and revitalized at all levels for maximum performance. It simplifies data facility functions and brings down expenditures.
Exalytics is an all-embracing solution
Ì Oracle Business Intelligence Foundation Suite
Ì Effective in-class reporting
Ì Online Analytical Processing or OLAP
Ì Extemporized query
Ì Dashboards and scorecards platform from global clients
Oracle Exalytics is made up of tested components like the optimized version of Oracle EssBase which is the most commonly installed OLAP technology for analytics. It also includes the Times Ten In-Memory Database utilized by thousands of clients for critical applications. The system operates with over 80 business intelligence and enterprise platforms. Customers are allowed to process current BI details and dashboards on Exalytics without the need for adjustments. It is delivered, with the three elements of pre-configuration, pre-testing and pre-optimization. It has the required applications for software, hardware, storage, and interconnection to bring down ownership costs and offer rapid time for value. It is classified as a single vendor solution with speedy time-to-resolution.
Oracle Open World
Last year, the Oracle Open World was held in San Francisco, California (USA) where Oracle chief executive officer Larry Ellison disclosed the features of the much awaited “in-memory offering” of the company.
“It is an application that operates on top of the Oracle database and functions faster due to the unique feature. Users do not have to implement modifications to their respective applications at all. They only have to flip on the in-memory switch. The Oracle database begins a scan of the data at the velocity of billions or tens of billions of rows every second.”
It is the ultimate “In-memory option” and the most recent improvement of the company’s database product. It was developed to aim for transactional and analytical workloads and commits to deliver remarkable improvements in terms of performance. It is considered the answer of Oracle to the SAP HANA In-memory database that will encourage customers to stick with Oracle.
On the hardware part, the CEO unveiled the M6-32 Big Memory Machine and Oracle Database Backup Logging Recovery Appliance.M6-32 comes along with 32 terabytes (memory). It was drawn up to operate the 12-C database with this option (in-memory). The huge memory enables enterprise users to preserve all or a large portion of the data which makes it even faster and does not have to decelerate due to input and output concerns. Likewise, it does away with the need to get hold of data from separate drives for storage which is connected to the main servers. On the other hand, the Database Backup Appliance serves as the support for the primary database. It is useful in case of breakdown since it permits clients to restore lost data.
Oracle also has backup and recovery systems in the cloud. Oracle designed the software as one (software and hardware) to secure maximum performance with fewer machines, less costs and space as well as less energy and manpower requirements. The My SQL Enterprise Monitor (3.0 version) highlights enhanced manageability, real-time monitoring, alerts functions, and visual analysis.
Oracle is the data hub of the future!
CEO Larry Ellison proclaimed this leap forward. “The In-Memory Option for Oracle Database, delivers 100X faster queries for real-time analytics, and a 2X increase in transaction processing rates. We figured out a way to speed up query processing and at the same time at least double database transaction processing rates.”
Given all these benefits, ORACLE remains as the software of choice.