12 Apr Oil and Gas Future Series: 3 Reasons You Need to Consider IOT
The internet of things (IOT), although not a new idea, is growing in popularity as technology continues to expand. With smartphones in most of our pockets, it’s becoming easier to control the world around us.
It goes farther than turning on the lights and heat on in your house as you walk through the door, or having your fridge remind you to pick up milk. IOT is taking the industrial world by storm and you need to understand the implications.
If you’re still hesitant about this costly endeavor there are a few benefits to consider before hastily casting it aside like last week’s meatloaf.
1. IOT Can Remove Human Error
We all make mistakes from time to time. It’s one of the wonderful things about being human. However, these mistakes are less than wonderful when it costs time and money.
Using automatic sensors that report data from your wells and facilities eliminates the chance that a person will make one of those costly mistakes.
Computers can occasionally make mistakes too, if something isn’t calibrated correctly or if it’s been damaged, but technology does have a better track record than we do as humans.
Very few people can recite pi to the 56th digit but computers are more than up to the task.
2. IOT Gives Real-Time Data
Hooray, did you hear your second cousin is getting married? You didn’t? That’s probably because it’s still making its way down the chain of family members before it gets to you. It’s not that you’re not important, it’s just people can be slow.
Let’s not go as far as putting digital sensors on your family members so you can get automatic updates; that’s what Facebook is for.
In this case, though, it would be nice to have heard the news quickly so you can plan to accommodate the wedding date or figure out how to be otherwise engaged.
The same concept applies to your well data, except it’s worth notably more money (sorry cousin Mary-Anne). Using IOT you can have real-time data delivered directly into your well lifecycle management program.
If you could eliminate minutes, hours, or days off data collection, it would allow you to make quicker decisions and increase profit. Who doesn’t like increased profit?
3. IOT Can Reduce Downtime
It once again comes down to man versus machine. Sensors can be used to time maintenance and allow for warnings if anything unusual is happening. They can detect things your average person cannot.
This allows for a proactive approach to well maintenance. If something breaks on a well or in one of your facilities it can range from a “quick-fix” to a “shut it all down!”.
Preventative measures using IOT sensors can help reduce that panic and allow you to plan for maintenance, reducing downtime and increasing profits. It’s like these things pay for themselves!
IOT in Summary
People are messy but necessary. If we can eliminate the chance for them to make little mistakes that we all do, then it makes everyone look better and increases productivity all around.
By digitizing reporting, you can save a lot of time, money, and stress.
Let us know how you feel about IOT in the comments.