ROI is the secret sauce for sustainable digital transformation
Digital transformation is a broad term that can mean vastly different things to different people. Within a given company, it is easy to gain consensus that such a thing is necessary to stay competitive, but it is tremendously difficult to define what it looks like in practical terms—much less where to begin.
Of course, it is infeasible to lay out a sequence of steps that is right for every company in every industry. Rather, it is more useful to talk about digital transformation in terms of levels of maturity, each centered around the key variable needed to make the process sustainable: return on investment (ROI). For digital transformation to be beneficial and long-lasting, it has to complement business goals. It is important to keep expectations realistic with respect to the current level of digital maturity. Five such levels of digital maturity are discussed here.
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- Investing in oilfield electrification will reduce GHG emissions (July 2022)
- Characterizing seismic facies in a carbonate reservoir, using machine learning offshore Brazil (June 2022)
- Real time field operations solution accelerates oil & gas production accounting (June 2022)
- Operational field procedure for identifying, installing and optimizing a gas lift well (June 2022)
- Processing of a large offshore 3DVSP DAS survey in a producing well (June 2022)
- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)