Oil and Gas operators utilize multiple systems to address the needs of different departments. Accountants maintain information within their ERP system whereas Reserves may maintain similar data within their economics and reserves application. These systems are manually maintained separately by users that work daily within the application. Within these different systems comes different reports, creating siloed departments. Data integration automatically brings together information from disparate systems therefore creating the framework for better decision making with the information collected.
Companies have spent millions of dollars implementing enterprise systems designed to capture, organize and store data securely. They were never truly required to speak with each other. To get the complete value from those systems every new technology investment you make must persistently bridge that gap between siloed systems. Invest in software that delivers consistent, trustworthy data without changing the way personnel work. This means new software must integrate with source systems, which helps make existing infrastructure and data more useful and meaningful.
There are many advantages to implementing data integration within your organization.
Data integration minimizes inconsistent data between systems.
When a multitude of users are manually maintaining data within different systems, there is going to be inconsistent data between the systems. Data can be updated in one system but without data integration, it will be the responsibility of the application owners to maintain and update it within their own systems. Within the implementation of data integration, the system of record is identified for a type of data and then automatically integrated to the different systems alleviating the need to manually update the same data across multiple systems.
Data integration decreases costs and increases efficiency.
There would no need for individuals to manually update each of the different applications. It would help alleviate the time need to gather data for the different system and free up resources for other essential business needs. Once the source system has been updated, the update can be automatically applied to the linked systems.
Lower risks by providing better quality data in a timelier manner.
A company’s strategies are based on analyzing the data that they maintain within their systems. If the data is outdated or even inconsistent within multiple systems then it is difficult for the business to make the right decisions. Data integration lowers risks by providing the business timely and accurate data which helps to make informed decisions.
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