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New Oil & Gas Study Reveals a Disrupted Industry Primed for Digital Transformation, Fueled by the Internet of Everything

If ever there was an industry and a time that epitomize “disruption,” it is the oil and gas industry today. Price declines of more than 50 percent since June 2014 have upended the sector, and dominate the agendas of industry executives. In fact, a new Cisco study identified “energy price volatility” as the external market force causing greatest concern for the industry today. The study, “A New Reality for Oil & Gas: Complex Market Dynamics Create Urgent Need for Digital Transformation,” shows an industry ripe for transformation by the Internet of Everything (IoE).

In the past, oil and gas (O&G) companies have attempted to address oil-price declines by resorting to short-term cost-cutting measures to see them through the slump. But this time is different. For one thing, it does not appear that prices will recover any time soon—if at all. Demand is down, and new production technologies are driving efficiencies that will increase production and keep prices low for the long term. This time, O&G firms will need to do more than cut costs – they’ll need to change their operating models through digital transformation.

For the study, we interviewed oil and gas executives, consultants, and analysts in 14 countries about the industry’s challenges, opportunities, and priorities. These experts identified intelligence from data as the key area needed to improve operational efficiency, and data analytics as the No. 1 driver of faster, better decision-making.

Additionally, the survey named faster problem resolution, better process control, and improved worker safety as the top three business benefits of IoE-powered technologies. The top three IoE-driven operational benefits were improved production efficiency, reduced downtime, and equipment performance optimization.

As an industry, oil and gas has been “digitized” for some time. True digital transformation, however, now requires adoption of the Internet of Everything — the networked connection of people, process, data, and things — throughout the value chain. Innovative firms are using today’s turbulent market landscape as an opportunity to grab competitive advantage by harnessing new IoE technologies. Read More »

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Embracing MVNOs and Connected Cars with Policy

We have had a great time meeting with customers and analysts this week at the Policy Control Conference. Kishen Mangat, Cisco’s Senior Director and General Manager of the Policy Business Unit, presented a keynote on Wednesday entitled “The Changing Mobility Business in the Age of Virtualisation.”

During his keynote, he touched on the topic from last week’s blog about how Service Providers are learning to expand their offerings with both additional services to existing subscribers and new ways to create business models and enter new markets. Traditional PCRF and the evolving Policy offerings like Cisco Policy Suite are helping our customers create Read More »

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How Banks Can Begin the Journey to IoE Readiness

Cisco’s recent survey of 7200 banking customers in 12 countries left me with a crystal-clear takeaway: consumers are ready for the Internet of Everything (IoE) — and they want it now.

But to meet that demand, banks need to assess their own capabilities as they begin to light up their own “dark assets” with network connectivity and embark on the journey to IoE readiness.

In our survey, we tested five key IoE-enabled banking concepts related to advice (virtual financial advice, virtual mortgage advice, and automated financial advice) and mobility (branch recognition and mobile payments). These concepts resonated with customers globally: 75 percent of all respondents would move their money to another provider for one or more of the five concepts. And while the interest is significant everywhere, in emerging markets, respondents are twice as likely to move their money. Read More »

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Are You Ready for Cisco Marketing Velocity and Partner Summit?

Cisco Marketing Velocity 2015 and Cisco Partner Summit 2015 are just around the corner. It’s likely that those of you joining us in Montreal are already set for your trip. However, you may not have thought of everything on THIS list…

Take a look through this blog and I’ll make sure you have everything you need to stay updated leading up to, and throughout the week of Marketing Velocity and Partner Summit.

Marketing Velocity will be held on Monday, April 27 at the Fairmont Queen Elizabeth Hotel. Partner Summit will be held Tuesday, April 28 – 30 at the Palais des Congrès de Montréal.  Shuttle service between hotels and the Palais des Congrès de Montréal will be provided if you are attending both events. Attire is business casual, and jeans are perfectly acceptable during the event.

Review this check list and let me know if you have any questions via the comments section:  Read More »

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What to Know: Virtual Face-to-Face Engagements for Midsize Business

Have you ever imaged what your company would look like if you only employed the best and the brightest employees? Midsize business leaders, just like enterprise companies, need to recruit and retain the most capable employees. They recognize that because today’s talent is on the move, the best employees may not be local.

There is a new understanding for midsize organizations: To remain competitive, they need new ways to support engaging face-to-face virtual interactions. Midmarket organizations also recognize that as employees juggle their time to have fulfilling careers, simplifying their ability to maintain a work-life balance is also important. Let’s face it: Connecting people on a very personal level is good for business.

KO12012So how will this help my business be more successful? Collaboration technology can amplify the value of each participant’s talents and contributions. It is this thinking that has led many midsize organizations with which I’ve spoken to use collaboration technologies to engage more personally with their customers, stakeholders, partners, and others (suppliers, consultants, or specialists) regardless of their location.

To put the cherry on top, it is now easier than ever to enable your dynamic workforce wherever they are. I’ve seen midmarket companies use Cisco collaboration technologies such as Sub-Zero and Vital Images to help improve their customer and employee engagements to drive revenue and success. Read More »

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