December 2015 Vol. 242, No. 12
Features
Improving Lost and Unaccounted for Levels by Embracing Innovation
Across many industries, companies showing a reluctance to embrace new technology are in danger of losing any competitive edge. In the oil and gas industry, where even the smallest error can have a major long-term effect, embracing innovation in the form of data analytics has become a necessity for companies striving to reach the highest levels. In an article published in the Houston Chronicle in August, an executive from technology solutions provider Landmark explained that long-term payoffs outweigh upfront costs for oil companies that commit to investing in technology, especially when considering fluctuations in oil prices. “The only mechanism to keep a sustainable low-cost view is to in
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