turning data into chemicals and petroleum insights
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Turning data into chemicals and petroleum insightsHow the industry is becoming cognitive IBM Institute for Business Value
How IBM can help
The IBM Chemicals and Petroleum industry team designs and implements solutions for chemical as well as oil and gas companies. We help these companies turn information into insights that enhance exploration and production, refining and manufacturing efficiency, global trading, risk management and operations in real time. IBM offers end-to-end industry solutions, including integration and collaborative platforms, hardware for supercomputing, software to optimize operations, and business and IT consulting. For information about IBM Chemicals and Petroleum solutions, visit ibm.com/industries/chemicalspetroleum.
Executive Report
Chemicals and petroleum
Executive overview
Significant challenges are confronting C&P organizations as they strive to succeed in an ever-
changing global landscape. Lower oil prices have put severe pressure on company margins and
challenge inefficient operations. Compounding this challenge is the loss of 350,000 jobs in the
industry since oil prices declined in 2014.1 What’s more, capital projects continue to grow in size
and scope, which creates even greater risk.
To thrive in this environment, C&P companies must find more innovative ways to cut costs and
increase revenues, create more productive solutions in exploration and development, and make
better decisions on operational risks. The industry has access to a tremendous amount of
data from sensors, reservoirs, incidents, asset management systems, maintenance
operations and other sources. And yet, C&P organizations struggle with turning that
data into actionable insights.
New cognitive technology has the capacity to make sense of these volumes of data by providing
systems that are able to adapt and learn. By expanding digital intelligence exponentially,
cognitive technologies can deepen and augment human capabilities. This can translate into
insights that help organizations drive innovation, improve operational efficiency and make
better capital decisions.
To understand C&P executives’ considerations, expectations and objectives in applying
cognitive solutions to their most pressing business challenges and opportunities, we examined
the responses of 300 executives in the C&P industry who participated in a global study of more
than 6,000 cross-industry executives on cognitive computing (see “Study approach and
methodology” at the end of this report).
In this report, we explore the C&P perspective on the state of cognitive computing and make
recommendations based on C&P top performers’ successful actions, so other organizations
can realize greater value from cognitive technologies.
Preparing for cognitive capabilitiesThe global chemicals and petroleum (C&P) industry
is undergoing enormous change. Volatile energy
prices, reserve replenishment and exploration issues,
rising R&D costs, reduced production reliability,
manufacturing inefficiency, and safety and compliance
concerns are causing upheaval in the industry.
Cognitive computing is poised to help. But what
exactly does it promise the industry, and how can
enterprises tap into its potential? We explored these
questions using input from 300 C&P executives
worldwide. In this report, we look at what a subset of
this group’s most financially successful organizations
– the “outperformers” – are doing differently with
cognitive capabilities and what other organizations
can learn from their success.
1
68% of all C&P respondents expect cognitive computing to play an important role in their organizations’ futures
71% of surveyed outperforming C&P organizations strongly agree that they are ready to adopt cognitive technologies versus just 22% of their peers
61% of C&P outperformers surveyed plan on investing in cognitive computing for bulk distribution and retail
State of cognitive computing in C&P
Cognitive computing represents a new paradigm that can significantly enhance an enterprise’s
ability to synthesize vast amounts of structured and unstructured data, apply machine-learning
capabilities to data analysis, and query results in natural language. It thereby enhances analysts’
insights, efficiency and speed.
Definition of cognitive used in the survey
Cognitive computing refers to next-generation information systems that understand,
reason, learn and interact. These systems continually build knowledge and learning,
understand natural language, and reason and interact more naturally with human beings
than traditional programmable systems.
2 Turning data into chemicals and petroleum insights
Figure 1C&P companies and other industries see the impact of cognitive computing
Source: IBM Institute for Business Value, “IBM Cognitive Computing Survey,” 2016.
63%
Cognitive computing is mature and
market-ready
C&P62%All other industries
62%
Cognitive computing will be
a disruptive force in our industry in the next three years
C&P58%All other industries
68%
Cognitive computing will play an important role in the future of our
organization
C&P67%All other industries
Consistent with other industries, C&P executives agree that cognitive computing has the
potential to radically change the industry. In fact, 62 percent believe it will play a disruptive role in
the industry and 68 percent expect that, with its broad range of benefits, it will play an important
role in the future of their organizations (see Figure 1). We expect that the application of cognitive
capabilities will help identify new avenues for growth, navigate complexity and implement new
ideas at higher velocity with quantitative risk levels.
Advanced analytics (predictive/ prescriptive) versus cognitive systems2
Advanced analytics respond to specific
programmed, coded requests to make
determinations and analyze predefined data
based on predefined parameters. Cognitive
systems, on the other hand, interact with humans
naturally to interpret data, learn from virtually
every interaction and propose new possibilities
through probabilistic reasoning. Cognitive
systems are trained, rather than programmed.
3
Figure 2C&P companies prioritize cognitive computing across the value chain
Source: IBM Institute for Business Value, “IBM Cognitive Computing Survey,” 2016.
Downstream production planning, trading, and risk management
Bulk distribution and retail
Environment, health and safely
Asset management (such as plant maintenance management, fleet/vessel/retail tanker management)
Regulatory compliance
Upstream exploring, appraising, drilling and production optimization (such as field economic
value, geo-political analysis)
48%
43%
38%
34%
26%
15%
So where do C&P organizations want to invest in cognitive computing? Research respondents
identified cognitive computing priorities as downstream production planning, trading and risk
management; distribution and retail; and environment, health and safety (see Figure 2).
4 Turning data into chemicals and petroleum insights
In downstream, trading in crude and petroleum products consistently challenges C&P
companies. These organizations need to maintain the right mix of physical and financial crude
trades, and balance logistical constraints with multiple refinery operational needs. Cognitive
technologies can help link real-world logistics and business trends to the “as expected” buy/sell
on a counterparty basis. In addition, cognitive systems can tap the advisory assistance of an
organization’s best trading team and provide that assistance 24x7 to the full trading floor. The
result is qualified, data-driven decisions for production planning, trading and risk management.
For bulk distribution and retail, C&P companies need to coordinate and manage logistical
events in a low-cost manner while ensuring product availability and integrity. Organizations also
need to understand and respond competitively to market influences and changing customer
demands. Cognitive computing can assist with identifying product-demand patterns by
geography, product specifications and available modes of transportation to better match supply
and optimize logistics. These insights can allow operators to recognize opportunities and create
competitive advantages.
In the area of environment, health and safety, success depends on understanding hazards,
appropriate procedures, technical barriers, training and culture. Cognitive capabilities can
enable operators to analyze relevant data from incidents, notifications, risk assessments,
studies and equipment-centric information to discover root causes or leading indicators of
emerging or trending safety issues. This 360-degree information and safety view of facilities or
equipment can provide valuable insights and improve awareness.
5
C&P leaders provide answers to realizing value from cognitiveHow can C&P enterprises use cognitive computing to capitalize on these new capabilities?
To help answer this question, we analyzed survey responses and identified a small group of
C&P outperformers, consisting of 14 percent of our study. This group self-reported that it
significantly outperformed in revenue compared to competitors and was significantly more
efficient and profitable than similar organizations over the past three years. This percentage of
C&P outperformers is consistent with the 14 percent of outperformers from all other industries.
Based on these leaders’ survey responses, C&P organizations will need to take the following
actions to succeed in the cognitive era:
• Create a culture for cognitive
• Build a cognitive data foundation
• Focus on new skills.
6 Turning data into chemicals and petroleum insights
Creating a culture for cognitive
Cognitive organizations embrace learning and science-based insight, and foster a culture in
which that knowledge is infused into decision making. Given the dynamics of a volatile
commodity industry, C&P leadership needs to create an organizational DNA that supports open
data collaboration, and leverages the best ideas and insights across the firm.
Likewise, leaders need to reach across organizational borders and industry forums to seek out
the most relevant insights from standards bodies and industry-led organizations. Being
boundless in curiosity and independent of source, leaders foster a culture of learning and
relentless pursuit of success in personal, functional and organizational knowledge.
These C&P outperformers are confident their organizations are ready to embrace a cognitive
future. Over seven out of ten of these leaders strongly agree their organizations are ready to
adopt cognitive computing, compared to two out of ten of all other C&P respondents (see Figure
3). It also appears that these C&P leaders are more ready for cognitive technologies (71 percent)
than leaders in other industries (53 percent).
Figure 3C&P outperformers embrace the science of cognitive
C&P outperformers strongly agree their organization is ready to adopt cognitive computing
Over 7 out of 10
All others strongly agree their organization is ready to adopt cognitive computing
Only 2 out of 10
Source: IBM Institute for Business Value, “IBM Cognitive Computing Survey,” 2016.
7
Figure 4C&P outperformers identify their top investment areas for cognitive technologies
Source: IBM Institute for Business Value, “IBM Cognitive Computing Survey,” 2016. Note: Asset management, regulatory compliance, and upstream exploring, appraising, drilling and production optimization did not have enough n-count to compare outperformers with all others.
Bulk distribution and retail
Enviroment, health and safety
Downstream production planning, trading andrisk management
48%
38%
40% 61%
36% 49%
47% 49%
Outperformers All others
The potential to expand insights and capability of organizations presents significant
opportunities. C&P outperformers expect to reap rewards on revenue growth through cognitive
technologies. In fact, these leaders say that revenue growth from larger orders is the most
important value driver of cognitive computing. And 53 percent more outperformers versus all
others in the industry see cognitive computing impacting the revenue model. This contrasts
with other industries where outperformers say that customer satisfaction is the most important
value driver for cognitive technologies.
With respect to specific cognitive computing investments, C&P outperformers emphasize
distribution, and environment, health and safety (see Figure 4). C&P organizations are
challenged to make better decisions on operational risk. The focus is to ensure that their
expensive assets are being used in the right place at the right time and delivering the right
product mix.
Timely action drives efficiency and safety. Efficiency supports decision making, greater
asset utilization, business longevity and profitability while guarding against oil price
fluctuation, downtime and human intervention. Safer operation means reductions in
human risk, environmental incidents and damage to business reputation. With the large
volume and variety of distribution networks and retail outlets, these companies need to
carefully manage opportunities.
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Given the potential benefits, a number of C&P outperformers have already begun to adopt
cognitive computing. Nearly half (46 percent) are either piloting, implementing or operating
cognitive technologies today, versus 20 percent of all others in the industry (see Figure 5).
This is consistent with the adoption rate of other industries in which 47 percent of leaders are
piloting, implementing or operating cognitive technologies, versus 22 percent of all others.
Piloting, implementing,
operating
46%20%
Not considering, considering, evaluating
54%80%
Phase in cognitive journey
Outperformers All others
2.3XA greater proportion of C&P outperformers are in more mature phasesof their cognitive computing initiatives
Figure 5C&P outperformers are advancing the cognitive journey
Source: IBM Institute for Business Value, “IBM Cognitive Computing Survey,” 2016.
9
C&P outperformers are likely to continue outperforming their peers, since they intend to invest
earlier and to invest more in cognitive capabilities that can bring competitive advantages of
speed and depth of insight. In fact, 53 percent of C&P outperformers say they will invest in
cognitive computing within two years versus 27 percent of their peers. This is consistent with
other industries, in which 46 percent of outperformers say they will invest within two years
versus 27 percent of all others. In addition, 73 percent of C&P outperformers say they will
dedicate over 10 percent of their IT spend in three years to cognitive computing compared to
46 percent of all others in the industry.
Take action
C&P organizations that want to create a culture for cognitive computing should consider the
following actions:
• Adopt a mindset that embraces the science of cognitive computing, which is a key step in the
cognitive journey. This includes fostering a willingness in your organization to infuse insight
into decision-making. Establishing an enterprise-wide cognitive strategy also can help set
direction and provide specific actions.
• Pinpoint a small number of high-value functions where cognitive technologies can play a role.
Areas of interest might include those that require inordinate time to seek timely answers and
insights from various sources; require ranked responses to questions and queries; and can
leverage new data sources to improve decision-making capabilities.
• Start investing only after identifying the differentiated value cognitive computing provides.
This value could come from improved decision making around production, trade and non-
technical tasks, reduced operational risk and greater cost savings.
Case study: Enhancing prospect valua-tions through cognitive computing
Oil and gas companies often make exploration
decisions based on evaluation processes which
are constrained in terms of availability of
personnel, time and information. For one energy
company headquartered in Europe, cognitive
systems provide researchers with a variety of
internal and external information from existing
developments and projects, oil and gas data
providers, and weather and satellite data. As part
of the cognitive system, an exploration decision
advisor unifies the structured and unstructured
data sources and processes that data to calibrate
the possible answers on a scale of “most-to-least
confident,” and then selects the answer to the
questions posed. The results are reduced time
and resources needed to develop a realistic and
affordable development plan, improved cost and
schedule assessments at an earlier stage, and
identification of risks and rewards with a lower
degree of uncertainty.
10 Turning data into chemicals and petroleum insights
Building a cognitive data foundation
The C&P industry has been engulfed in a tsunami of data for many seasons. A single platform can
operate with 80,000 sensors in place. A drilling operation may collect two terabytes of data per day
from field operations. In addition, industry-based professional societies may generate 300,000
documents per year covering a multitude of insights and direct field observations. It therefore
becomes imperative that a modern data architecture can ingest and digest the “4 Vs” of data
– volume, variety, velocity and veracity – from both internal and external sources, and then integrate
that data into enterprise processes.3 The cognitive era amplifies the need for these capabilities.
C&P outperformers outpace their peers in the adoption of the components needed for a
modern data infrastructure. Over 60 percent of these leaders have made investments in
cloud-based data storage or analytics services compared to 30 percent of their peers. C&P
outperformers are two times more likely than all others in the industry to have invested in
technologies to support distributed storage and processing, streaming data ingestion and
analysis, and data curation services (see Figure 6).
61%Outperformers
30%All others
Cloud-based data storage oranalytic services
49%Outperformers
23%All others
Data curation services
56%Outperformers
23%All others
Distributed storage andprocessing platform
46%Outperformers
24%All others
Streaming data acquisitionand analysis
Figure 6C&P outperformers outpace all others in the industry in adopting the components of a modern data ecosystem
Source: IBM Institute for Business Value, “IBM Cognitive Computing Survey,” 2016.
11
C&P outperformer investments in cloud-based data storage or analytics services, as well as
distributed storage and processing, are consistent with those of their peers from other
industries. However, C&P leaders slightly lag in data curation services at 49 percent, and
streaming data acquisition and analysis at 46 percent, compared to over 60 percent of other
industry outperformers’ investments in these technologies.
Organizations need clarity of vision around the deluge of data – who owns it, what it means and
how it should be managed. C&P outperformers drive clear data governance through a Chief
Data Officer (CDO) or an executive in an equivalent position. The CDO is a business leader who
defines, develops and implements the strategy and methods by which the organization
acquires, manages, analyzes and governs data.
In our survey, 56 percent of C&P outperformers have a CDO versus 37 percent of their peers.
Again, this is consistent with other industries in which 57 percent of outperformers have a CDO
versus 43 percent of all others. In addition, the CDO is supplemented by a business-driven
information governance committee for 59 percent of C&P outperformers compared to just 35
percent of their peers. Here C&P leads other industries, since less than half (44 percent) of other
industry outperformers have a business-driven information governance committee.
12 Turning data into chemicals and petroleum insights
Cognitive systems require the ability to ingest and provision a wide variety of data sources. In fact,
88 percent of C&P outperformers utilize both internal and external data versus 65 percent of all
others in the industry. In the area of external data, 72 percent of C&P outperformers collect and
analyze social media data compared to 40 percent of their peers, and 56 percent collect and
analyze still images and videos, such as seismic images, compared to 35 percent of their peers.
Take action
Most organizations do not have the data ecosystem needed to support cognitive systems.
This ecosystem must be able to ingest, curate and analyze data to gain insights. To that end,
C&P organizations can:
• Establish data infrastructure needed to support cognitive systems. Accelerate your cognitive
journey by implementing strong data management at the enterprise level.
• Ensure business-driven governance for data and analytics in order to create data
commonality, lineage and transparency.
• Augment structured data with new sources of unstructured data or information from
external sources. Cognitive systems can support ingestion and analysis of social data
and images/videos.
Case study: Using cognitive analysis of an ocean of data to make smarter decisions
Large oil and gas operations involve a constantly
unfolding, interlocking chain of technical and
engineering decisions, and the stakes for making
the right decisions can be enormous. An energy
company in Australia is using the powers of
cognitive computing to dissect, map and navigate
30 years’ worth of dense and complex engineering
knowledge. Content analytics algorithms identify
and score logical connections between and across
unstructured documents of all kinds, enabling
employees of all stripes – not just subject matter
experts – to submit plain-English queries that drill
down quickly and accurately to the most relevant
and valuable insights. The results are a USD 7.5
million reduction in employee expenses due to
faster access to and more intuitive analysis of
engineering records and a 75 percent reduction in
the time the geoscience team spends reading and
searching through data sources.
13
Focusing on new skills
An explosive growth in the need for data science and applied engineering talent has
accompanied the rapid growth of cognitive demand in the C&P industry. The necessary
reskilling and retooling comes at a time when price volatility and unmerciful market forces are
challenging some operating companies and their fixed cost structures to merely survive.
Organizations have sought to foster and incubate cognitive skills in internal centers of excellence
and organizational constructs to support and nurture these skills. Firms have embraced
governance mechanisms that collaborate with their greatest challenges and connect them to
these new skills and capabilities, and that support delivery of the business benefits of cognitive
insights. C&P outperformers overwhelmingly recognize that employee roles and skills will need
to change to support cognitive computing, with agreement from 95 percent of these leaders
compared to 69 percent of their peers.
With the transition to cognitive computing, C&P outperformers realize the need for specialized
skills and talent: 90 percent compared to 56 percent of all others in the C&P industry have the
skills in-house to implement cognitive technologies. This is consistent with other industries
where 86 percent of outperformers have in-house skills versus 53 percent of all others. And
these C&P leaders are targeting specific roles, such as data architects, data acquisition
specialists and advanced mathematical modelers (see Figure 7).
14 Turning data into chemicals and petroleum insights
Figure 7C&P outperformers have the new skills to support analytics and cognitive computing
Source: IBM Institute for Business Value, “IBM Cognitive Computing Survey,” 2016.
Advanced data architecture skills
Data acquisition specialists
Advanced mathematical modeling skills
61%
Outperformers All others
35%
61%35%
44%24%
1.7Xmore
1.7Xmore
1.8Xmore
Take action
C&P organizations should consider the implications of cognitive technologies on talent by doing
the following:
• Be prepared to adapt roles to facilitate new ways of working with technology. Adjust
processes and content associated with those roles.
• Assess the jobs impact of cognitive computing and augment in-house talent. Organizations
will need to acquire or hire the specialized skills and talent necessary to move forward with
cognitive technologies.
• Diversify your existing teams’ analytic breadth, data skills and modelling capabilities by
developing new skills and adding new talent.
Case study: Decrypting outage warning signs with a new level of accuracy
For oil and gas companies, powerful and complex
equipment, such as compressors, is the heartbeat
of production. Keeping that equipment running is a
top priority. One U.S. oil and gas company
embraced a new way of monitoring the health of its
oil production assets, using machine-learning
algorithms to automatically build complex,
multivariate and far more flexible rules defining
which changes in vibration patterns, pressure and
the like are true anomalies. The result has been a
greater than 95 percent increase in outage-event
detection accuracy, reducing production outage
through more accurate analysis of equipment
sensor data and improved productivity through
actionable insights.
15
Are you ready to start using cognitive technologies?As you consider the introduction of cognitive into your organization, think about these
key questions:
• Which areas within your organization could benefit from cognitive computing, and what can
you do to get rapid paybacks?
• What is your plan to encourage and support revenue growth, including rapid expansion of
how your organization can leverage cognitive technologies?
• How effective is your organization in bringing together data from various sources to solve
important business problems, and what improvements could you make in this area?
• How can your organization collaborate to implement cognitive technologies?
• What new skills or competencies would be required in your organization to take advantage of
cognitive computing?
16 Turning data into chemicals and petroleum insights
Study approach and methodology
In cooperation with Oxford Economics, the IBM Institute for Business Value surveyed 6,050
global executives representing 18 industries, including leaders of government departments and
educational institutions. Roles of responding executives included major C-suite members
– CEOs, CMOs, CFOs, CIOs, COOs and CHROs – as well as heads of customer service,
information security, innovation, manufacturing, risk, procurement, product development and
sales. In total, 300 C&P respondents participated in the study.
ManufacturingProcurementFinanceInnovationMarketingProduct developmentInformation technologySupply chainInformation securitySalesRiskCustomer serviceHuman resource
11%
3%
8%
7%
13%
10%
10%
8%
7%
7%
6%4%
7%
26%Enterprise size (revenue) of 300
C&P respondents
40%
21%
5%
$250M to$499M
8%
$500M to$999M
$1B to$4.9B
$5B to$9.9B
>$10B to$20B
$50M to$249M
1%
Functional spread of 300
C&P respondents
17
Authors
Spencer Lin is the Global Chemicals and Petroleum Lead for the IBM Institute for Business
Value. In this capacity, he is responsible for market insights, thought leadership development,
competitive intelligence, and primary research on the industry agenda and trends. Spencer has
a combination of financial management and strategy consulting experience over 20 years,
with extensive experience in finance transformation, strategy development and process
improvement. He holds a BS in Chemical Engineering and an MBA in Strategy. Spencer can be
reached at [email protected].
Santosh Mulayath is the IBM Global Lead of Cognitive and Analytics offerings for the Chemicals
and Petroleum industry. In this role, Santosh is responsible for business development for the
industry-specific cognitive and analytics solution portfolio using Watson, as well as overseeing
the alliance with a leading oil field services company to deliver operational excellence. He has
over 30 years of experience providing business and technology consulting, and has worked
extensively with upstream oil and gas, refiners, national oil companies, electric and gas utilities,
and Engineering, Procurement and Construction companies. Santosh holds a BS in Electronics
Engineering. He can be reached at [email protected].
For more information
To learn more about this IBM Institute for Business
Value study, please contact us at [email protected].
Follow @IBMIBV on Twitter, and for a full catalog of our
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The IBM Institute for Business Value (IBV), part of
IBM Global Business Services, develops fact-based,
strategic insights for senior business executives on
critical public and private sector issues.
18 Turning data into chemicals and petroleum insights
David M. Womack is the IBM Global Director of Strategy and Business Development for the
Chemicals and Petroleum industry. In this role, David is responsible for identifying new market
and solution opportunities, managing the development of the industry-specific solution
portfolio, implementing go-to-market plans for business growth and leading alliances with key
business partners associated with these strategies. David is a member of the IBM Industry
Academy. He is an author of several IBM industry studies and research projects as well as a
speaker at industry conferences. David holds a BS in Chemical Engineering and an MBA in
Strategy. He can be reached at [email protected].
Ash Zaheer is the IBM Chemicals and Petroleum Lead for Internet of Things (IoT) and Mobility.
In this role, Ash works in Global Business Services’ Global Solutions and Business Development
team advising clients across the world. Early in his career, he developed code and led the
work of technical teams in the areas of design, development and testing for bespoke systems.
He now helps his clients resolve business issues, advises on technical innovation and mobility,
and devises IoT-centric solutions focused on the oil and gas industry. He has authored papers
and speaks at industry conferences on IoT. Ash can be reached at [email protected].
19
Acknowledgements
Brian Goehring, Global Cognitive Lead, IBM Institute for Business Value
Luq Niazi, Global Managing Director, Chemicals and Petroleum industry
David McKay, Global Market Segment Manager, Chemicals and Petroleum industry
Angela Finley, Creative Designer, IBM Institute for Business Value
Kristin Fern Johnson, Content Strategist/Writer, IBM Digital Services Group
Related reports
Womack, David, Richard Cave, Mike Foden and Matthew Stent. “Exploring the power of
cognitive IoT: Generating timely action in oil and gas.” September 2016. http://www-935.ibm.
com/industries/chemicalspetroleum/assets/IBM_Whitepaper_Exploring_the_power_of_
cognitive_IoT.pdf
Boyle, Curie, Anthony Marshall, Sandipan Sarkar, Marc Teerlink and David Womack. “A new
natural resource: Your cognitive future in the oil and gas industry.” IBM Institute for Business
Value. April 2016. https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?subtype=XB&infotype=
PM&htmlfid=GBE03747USEN&attachment=GBE03747USEN.PDF
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Notes and sources1 Burgess, James. “Global Oil And Gas Job Losses: 350,000 And Counting.” OilPrice.com. May 12,
2016. http://oilprice.com/Latest-Energy-News/World-News/Global-Oil-And-Gas-Job-Losses-350000-And-Counting.html
2 Ezry, Raphael, Dr. Michael Haydock, Bruce Tyler and Rebecca Shockley. “Analytics: Dawn of the cognitive era.” IBM Institute for Business Value. October 2016. https://www.ibm.com/services/us/gbs/thoughtleadership/2016analytics/
3 Finch, Glenn, Steven Davidson, Pierre Haren, Jerry Kurtz and Rebecca Shockley. “Analytics: The upside of disruption: Reinventing business processes, organizations and industries in the wake of the digital revolution.” IBM Institute for Business Value. October 2015. https://www.ibm.com/services/us/gbs/thoughtleadership/2015analytics/
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