Energy data analytics transforming oil and gas decision-making

Energy data analytics is rapidly revolutionizing various sectors by offering real-time insights and enhanced decision-making capabilities. A standout example in the oil and gas industry is Energy Studio: Impact, a cutting-edge platform that is transforming decision-making processes.

By leveraging swift geospatial processing and advanced data visualization, Energy Studio: Impact embeds significant data to provide a comprehensive, data-enabled experience. This innovative approach underscores the growing importance of cloud-based solutions in driving efficiency and informed decision-making across the energy sector, according to Andrea Anderson (pictured, left), executive director of real-time analytics and high-performance compute platform capabilities at S&P Global Inc.

S&P Global’s Andrea Anderson and EPAM’s Ashley Videtto talk to theCUBE about the importance of Energy Studio: Impact.

“With Energy Studio: Impact … we recognized that they had a need to make decisions very quickly. Especially in that industry, in that space, the ability to identify a deal or an asset that you want to acquire very quickly is really important,” Anderson stated. “We wanted an application that was cloud-based, that had all the breadth and depth of data … available at their fingertips through a modern interface that gave them the capabilities to collaborate, create and customize.”

Anderson and Ashley Videtto (right), solutions architect at EPAM Systems Inc., spoke with John Furrier, executive analyst at theCUBE Research, at the AWS Financial Services Symposium, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed how Energy Studio: Impact is changing the game in the oil and gas industry. (* Disclosure below.)

How EPAM and energy data analytics fit into the Energy Studio: Impact picture

Since S&P Global wanted to analyze huge amounts of geospatial data in ways not seen in business intelligence tools before, EPAM became an ideal choice because it came in handy in the development of Energy Studio: Impact and the development of stronger energy data analytics. EPAM achieved this through a tiered approach, according to Videtto. 

“What was unique and interesting about this particular use case is not only did they want to deliver it fast, they had very aggressive timelines,” he said. “They wanted the application delivered in less than a year. Our approach from the start was to take a tiered approach and we found that utilizing AWS’ services allowed us to accelerate the delivery across the board.” 

To enhance return on investment and time-to-market in Energy Studio: Impact, EPAM sought significant help from Amazon Web Services Inc., according to Videtto. For instance, AWS FSx for Lustre came in handy for faster storage compute. 

“We started from the entire data platform looking at a tiered approach and this is where the AWS services really helped,” he explained. “From the compute and transformation layer, we utilized serverless architecture, Lambda and Fargate orchestrated with AWS Step Functions to really deliver that analytics presentation layer to the specifications that Andrea and team wanted.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE Research’s coverage of the AWS Financial Services Symposium: 

(* Disclosure: Amazon Web Services Inc. and EPAM Systems Inc. sponsored this segment of theCUBE. Neither AWS, EPAM Systems nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE