ROI is the secret sauce for sustainable digital transformation
Digital transformation is a broad term that can mean vastly different things to different people. Within a given company, it is easy to gain consensus that such a thing is necessary to stay competitive, but it is tremendously difficult to define what it looks like in practical terms—much less where to begin.
Of course, it is infeasible to lay out a sequence of steps that is right for every company in every industry. Rather, it is more useful to talk about digital transformation in terms of levels of maturity, each centered around the key variable needed to make the process sustainable: return on investment (ROI). For digital transformation to be beneficial and long-lasting, it has to complement business goals. It is important to keep expectations realistic with respect to the current level of digital maturity. Five such levels of digital maturity are discussed here.
- Executive viewpoint (November 2023)
- Digital transformation: Accelerating productivity, sustainability in oil and gas (November 2023)
- Technological innovation delivers transformative product suite to upstream sector (November 2023)
- Taking the next step in offshore digitalization (November 2023)
- Optimizing BHA and fluid selection with a machine learning-based drilling system recommender (October 2023)
- Digital twin mitigates recovery risk of damaged riser, offshore Brazil (September 2023)
- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)