Unifying Predictive Analytics and Real-time Process Optimization for Oil & Gas

General Electric (GE)

Unifying Predictive Analytics and Real-time Process Optimization for Oil & Gas
Unifying Predictive Analytics and Real-time Process Optimization for Oil & Gas
Unifying Predictive Analytics and Real-time Process Optimization for Oil & Gas

General Electric (GE) General Electric (GE)
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OVERVIEW
A leading oil & gas company and one of GE’s most trusted and innovative partners had no way of integrating independent equipment issue detection capabilities. The company was losing money as a result of unplanned downtime due to maintenance scheduling issues and outdated software systems. They believed that a well-designed combination of IT assets would generate stronger insight than they had, affording them the ability to monitor offshore equipment from an onshore facility using real-time insight and predictive analytics.
A leading oil & gas company
GE’s Design Thinking team worked in close collaboration with the oil company’s team to co-create a system that would unify capabilities. To gain a richer understanding of the company’s specific needs, GE’s Design Thinking team visited one of the company’s facilities, where they demoed a prototype solution and received valuable feedback from the potential product’s end users. In addition to this site visit, the GE Design Thinking team scheduled weekly calls with the company to consistently seek their feedback on the prototype’s development. In this sense, GE’s Design Thinking process was truly one of co-creation, in which the potential product’s end user had a direct and influential impact on the product’s features and development strategy.
IOT
Mature (technology has been on the market for > 5 years)
OPERATIONAL IMPACT
The company recognized the value in the Design Thinking-created prototype’s ability to merge systems of predictive analytics and real-time data and authorized production of a finished product which seeks to enable better decision-making and greater efficiency. Although the product began as a customized solution to meet this company’s particular needs, it is now a core aspect of GE Oil & Gas’ software suite. This fact highlights Design Thinking’s ability to be both a pragmatic service, designing prototypes that fit custom parameters, and also a visionary service, conceiving of potential products that have the ability to catalyze new value for an entire industry.

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