As companies have embraced the digital oilfield and implemented more and more sensors we are now awash in data. Having more data does not mean we are necessarily improving business outcomes. Increasingly connected devices (“Things”) are becoming the main source of the information glut. This Internet of Things (IoT) will soon be generating millions of senor readings and events every day. The main challenge is to quickly mine knowledge from data and operationalize this knowledge in end-to-end digitized business processes. The knowledge mined and operationalized from IoT/Big Data will be one of the more compelling digital transformation enablers.
Dr. Setrag Khoshafian will provide a compelling viewpoint on why massive systems of connected devices and ground breaking analytics mean nothing if there is no way to orchestrate both the physical assets and people within the business. The Process of Everything (PoE) will provide the context to coordinate the data and events to execute business rules, automate decisions, drive processes and learn and adapt to guide human actions resulting in maximized production, lower maintenance costs, and increased profitability.