Improving Operations Management Using Business intelligence
One of the biggest benefits of implementing Business Intelligence platforms in an oil and gas company is leaner and faster decision making. Measuring the benefits of Business Intelligence platforms and managing the decision making process can accelerate the Return on Investment and enhance the efficiency of operations. Oil and Gas companies must invest in BI implementation thus reducing the payback period and creating sustainable long term value.
Typical Business Intelligence projects are deployed in three major phases: Assessment; Solutioning and Deployment. To accelerate the business value generated for Oil and Gas companies, critical work stream needs to be added to their “Business Intelligence roadmap”.
This is the missing piece – “Process Intelligence” (Process improvement + Business Intelligence). This critical work stream involves key elements of Business Process Management coupled with the opportunities opened up by Business Intelligence.
There are two main reasons why “Process Intelligence” is different from the traditional operations that are practiced traditionally –
These advantages will require organizations to realign their operations management processes in order to drive business value. The three key elements that need to be orchestrated tightly to achieve greater agility and precision are:
Business Intelligence can be a very powerful tool that will enable organizations to compete in a volatile and competitive marketplace but will have to closely integrate with the business processes to create an agile and successful organization.