Product Code: IT023-000003
Companies in old-line industries such as oil and gas and utilities are saddled with expensive assets with decades-long lifecycles that cost more to maintain as they grow older. Success - even survival - requires such companies to embrace asset management tools that can capture, organize, and analyze data to root out waste and optimize asset performance, efficiency, and return on investment.
- Ovum research documents adoption rates of asset and performance management technologies and highlights a lifecycle approach that promises significant additional benefits. The study also measures the benefits that customers have achieved across multiple technology- and business-related factors.
- Analyzes benefits and satisfaction levels across seven categories of asset- and performance-related information management applications.
- Identifies demand drivers and inhibitors across these application categories, as well as planned investment among survey respondents.
- Why are current asset management methods inadequate for the challenges facing the utilities and oil and gas industries?
- What benefits are customers gaining by adopting leading-edge approaches such as asset lifecycle information management (ALIM)?
Table of Contents
- Ovum view
- Key messages
POOR ASSET MANAGEMENT IS A WIDESPREAD AND EXPENSIVE PROBLEM
- Poor asset information management is an expensive - and sometimes fatal -
- Survey findings show uneven uptake of asset and project information
- Disparate data types are a challenge across utilities and E&P
- Who makes the information management investment decisions?
- The role of the CIO - and what it means for vendors
- Process managers often exert strong influence
USERS REPORT SUBOPTIMAL BENEFITS AND SATISFACTION
- Most users are not completely happy with the benefits they have achieved
- Satisfaction ratings were higher overall than benefits ratings
MULTIPLE TECHNOLOGY AND BUSINESS FACTORS ARE DRIVING DEMAND FOR BETTER INFORMATION MANAGEMENT
- Customers want better tools for managing Big Data and dismantling their
- Technology factors
- Business factors
FUTURE INVESTMENT IN INFORMATION MANAGEMENT TECHNOLOGIES REMAINS UNCERTAIN
- Large majority have no plans to invest more in IM - yet
- Top investment goals are consolidation and improving regulatory compliance
- Key adoption inhibitors are uncertain benefits and manager support
THE MISSING PIECES: A LIFECYCLE APPROACH TO ASSET MANAGEMENT AND A ROADMAP TO MATURITY
- When rapid change collides with entrenched practices, the result can be
- Well-defined ALIM strategies and maturity models will increasingly make
the difference between thriving or merely surviving
- Not yet the "next big thing"
- Further reading
- Ovum Consulting
- Figure 1: Asset and project performance software is most widely adopted
- Figure 2: CIOs lead IM investment, but other C-level executives have
- Figure 2: Few customers are fully satisfied with their IM investments to
- Figure 4: Technology factors driving demand for IM applications
- Figure 5: Mobility, opex, and health/safety are among the top IM drivers
- Figure 6: Large majorities say they have no plans for further IM investment
- Figure 7: What is holding back information management investment?
- Figure 8: A maturity model for asset lifecycle information management