“Drill, baby, drill” makes for an easy mantra when it comes to energy exploration, but the oil and gas (O&G) industry moved past simply drilling long ago with the introduction of digital information processing. For example, integrated production modeling was introduced in the 1970s. With the recent turmoil in the energy industry, the stakes are even higher for O&G companies to work smarter and more efficiently. Forward-looking businesses are making the transition to true digital transformation, which requires the adoption of the Internet of Everything (IoE)—the networked connection of people, process, data, and things—throughout the entire O&G value chain. According to a recent Cisco study, of these four IoE elements, essential “data” is the component most in demand—and the element that needs the most improvement.
Survey respondents identified “data” as the area of IoE they need to improve most to drive insight and value.
However, in many cases it’s not data that’s lacking; O&G firms are awash in data generated by sensors and machines spread throughout their far-flung operations. The struggle comes in capturing real-time operating data closest to the point it’s created, analyzing it in real-time and applying the results to improve functional and business capabilities. To capitalize on the wide range of data IoE generates, O&G firms must overcome three key challenges:
- Automating the collection of data
- Integrating data from multiple—and often far-flung—sources
- Analyzing data to effectively identify actionable insights
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Tags: analytics, Cisco, collaboration, Data Science, digital, Disruption, IIoT, Internet of Everything, IoE, IoT, oil and gas, oil prices, operational technology, OT, thought leadership, transformation
The only thing that remains constant is change.
It’s an old adage. While it has always been true, it’s especially relevant now. Today’s pace of technology change is akin to a vortex, relentlessly and chaotically sweeping everything into its spiral path, demanding digitization. As with a real vortex, the force of this change is too strong to ignore and those objects (or business models) that fail to adapt will break apart and fall away.
Indeed, digital disruption has the potential to overturn incumbents and reshape markets faster than perhaps any force in history. Organizations that do not drive their own digital business transformation will be left behind. Those that do will be pulled toward a “digital center” in which business models, offerings, and value chains are digitized driving new revenue streams and substantive business outcomes.
The driver behind this pace of disruption is the Internet of Everything (IoE), the networked connection of people, process, data, and things. Cisco projects these connections to surge from 15 billion today to some 50 billion by the end of the decade. IoE is sowing disruption, certainly — but it is a force for disruption and creation. With a total Value at Stake of $19 trillion from 2013 to 2022, IoE represents a profound market transition — and opportunity.
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Tags: Cisco, digital business, digital disruption, Digital transformation, digital vortex, IMD, innovation, Internet of Everything, IoE, leadership, research, thought leadership
The House Judiciary Committee today approved patent reform legislation that helps create a level playing field for those seeking to encourage innovation. This is the second time in two weeks that a key Congressional committee voted in favor of reform. It is a clear demonstration of the bipartisan, bicameral support for reform.
Like any legislation, this bill is not perfect, but it takes a meaningful step toward reform which we support.
The committee approved a strong fee-shifting provision, and beat back efforts to weaken the measure; it includes discovery language that will help stop fishing expeditions; it provides protections against those who would use demand letters to extort cash settlements from small businesses; and it protects small inventors and universities. We’re concerned that the committee weakened the heightened pleading language, and will work to see that it is restored as the bill moves through the legislative process.
Let me thank Chairman Bob Goodlatte, Silicon Valley Congresswoman Zoe Lofgren, and Congressman Darrell Issa, whose efforts on venue reform were of critical importance, and indeed all 24 members of the committee who voted for the bill, for their tremendous leadership in supporting reform.
Tags: patent reform
Today at Cisco Live we announced an expansion of our Intercloud strategy. We added new features and capabilities for our hybrid cloud software, Cisco Intercloud Fabric, along with the addition of 35 independent software vendors committed to developing Intercloud-enabled services for customers. Together these developments will give customers more choice, compliance and control in the hybrid cloud world.
But there is a bigger opportunity that goes beyond hybrid cloud. We’re not just developing a new cloud platform and connecting the world of many clouds. We’re preparing for a much larger hybrid IT-enabled future where billions of digital services, applications and intelligent devices will need a control point. We believe that control point is our Intercloud platform.
The next wave of the Internet
Every hour 300,000 new things connect to the Internet; translating into more than 50 million things a week. And this rate of connectivity is increasing. We estimate that by 2020, 50 billion things and five billion people will be connected.
Each thing will be connected to the Internet. It isn’t necessary for everything to have onboard intelligence, or to be connected full time to the Internet. Intelligence and engagement can be abstracted away from the things themselves to the clouds. We can already see this today. Many of us have several cloud connected things already in our own home – the home thermostat, smoke detector, file backup and smart phone to name a few. And it’s not just in the home – the explosion includes cloud connected cars like the Tesla and connected smart cities.
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Tags: Big Data, Cisco Intercloud Fabric, cloud services, InterCloud, Internet of Everything
Every market and every industry is moving from the Information Age to the digital age, and the pace of change is happening faster than ever before. Every company, city and country is realizing they must transform to survive and thrive in this new era. I predict this race to go digital will be more like a marathon sprint; however, not everyone will make it to the finish line. Gartner predicts that only 30 percent of digitization efforts will be successful, with the inability to reinvent as the number one reason companies will fail in this new era.
As a leader of a company that has successfully seen around corners and reinvented itself, I’ve learned a lot about what it takes to win in an environment of exponential change. Here is my advice for other leaders as they move to the digital age:
Digitize and Disrupt.
Now, more than ever, you must reinvent yourself to embrace the opportunities that digitization presents. It used to take almost 20 years for a company to show commodity-like behavior, but now it only takes a matter of two to three. Spotify and Square, for instance, have disrupted music and point-of-sale respectively. These are only a couple of the innovative companies that are putting increased pressure on businesses to disrupt themselves by challenging traditional models.
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Tags: john chambers