This post references an article originally written by Katherine Blunt for the Houston Chronicle, published on September 13, 2018.
Google’s new oil, gas, and energy division is planning on launching a partnership with Tudor, Pickering, Holt & Co.. The partnership is anticipated to increase Google’s presence in Houston–hopefully putting the city on the tech industry’s map. The partnership is mutually beneficial as it will allow Google to begin selling its cloud services to energy companies, while at the same time giving Houston a chance to reduce costs through the use of data analytics. It is important for Houston to prove it is “open to Silicon Valley disruption as it strives to establish a startup ecosystem that would foster new, cutting-edge companies to support the digital transition in the energy sector and other industries underpinning the regional economy”, reports the Houston Chronicle.
As technology and data analytics begins to make a greater impact on business practices, it is important for companies to embrace the change. The article references ConocoPhillips as an example of a company who skillfully adopted the practice of data analytics to improve drilling efficiency and cut production costs. The Google partnership is monumental in that it will prove Houston is capable of embracing data analytics among more traditional industries.
The topic of data analytics has also begun to make waves in the banking industry. Companies that deal with foreign exchange, may consider using FX Rate Integrity® to take advantage of the new trends in Data Analytics.
To read the full article, visit the Houston Chronicle.
-Paola Gasca, Blades International, Inc. Analyst