The energy industry has always faced large price swings as a result of changes in the global economy. But today, this entire sector is facing an unprecedented level of disruption. Industry analysts say it is in the throes of a dramatic upheaval that is requiring companies in this industry to reinvent themselves.
To navigate this period of intense uncertainty, many energy executives are looking to big data analytics to point the way. According to Mordor Intelligence, “The big data analytics market in energy sector is expected to grow at a CAGR of 11.28%, during the forecast period, 2021-2026. Big data analytics play a crucial role in reducing energy consumption and improving energy efficiency in the energy sector.”
This paper will:
- Take a closer look at some of the biggest disruptors affecting energy companies
- Examine how big data analytics can help these firms reduce risk, drive down costs, and improve efficiency.