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Hedging Your Energy Portfolio With Big Data

Too often investors in the energy sector put on blinders and fail to consider energy related opportunities that are not in the traditional energy company mold. That is particularly damaging today as oil prices continue to struggle and energy sector stock prices as a whole are stuck in neutral or even trending downward. Technology today is changing the way many companies do business and nowhere is that more true than in energy given the price collapse in oil. To that end, investors looking for energy sector opportunities might consider looking at the emerging megatrend in Big Data.

For those who are not familiar with Big Data, the basic idea is that statistical analysis can be used to help businesses better understand their operations and their customers, thus improving profitability. In the oil patch this can mean using statistical analysis to understand where to drill the next well, which employees are the most productive, what future production mixes will look like, or even what might happen to oil prices under various scenarios in the future.

Clearly big data is valuable from any company’s point of view. But most energy companies want to focus on their core competency which is not statistical analysis or software development. As a result, energy companies are increasingly looking to outside firms for customized software offerings to help improve operations using data. That’s especially important given the shrinking opportunities for further margin…

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