Major IT Drivers and Initiatives for Oil & Gas CIOs: practical approach to modernizing their IT environment

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From the economic slump in china and drops in Oil prices, Oil & Gas companies are facing these last times, set of challenges when it comes to innovate, increase productivity, develop a sustainable cost and productivity strategy, which is essential to achieving their immediate and long-term objectives.


According to new study from IDC Energy Insights, Companies are now taking a practical approach to modernizing their IT environment and doing all they can with what they currently have.
 
One can then observe that, the approach is to tune existing applications and processes to realize a solid IT foundation for each business unit. Companies are updating and replacing specific applications that help automate and optimize processes and workflows where applicable. 

Companies are realizing the value of big data and analytics, Internet of Things (IoT), analytics, advanced analytics, cognitive, cloud, mobile applications, and automating processes wherever possible. 

According to the report, CIOs are selectively investing in technologies and approaches that help optimize processes, increase productivity, promote security, and reduce costs.
Industry-specific and security applications are ranked as top priorities for software purchasing.