This study shows how service providers can deliver the expertise energy companies need as they lose their asset experts—89 percent of power and oil & gas companies expect to lose experienced personnel due to retirement in the next five years, and 35 percent will see more than 25 percent of their asset experts disappear. OSIsoft is challenging service providers to step up to fill these gaps in expertise, and think differently about their relationship with customers through information-sharing about customer assets.

View and download the accompanying INFOgraphic here.

Key Findings

• Nearly 70 percent of service providers see sharing asset data playing an increasingly important role in the next five years.
• Oil & gas service providers are experiencing the highest rates of data sharing with 50 percent of them reporting that at least a quarter of their customers are already sharing asset data with them.
• When supplying data-sharing capabilities, power service providers face the greatest challenge with upfront capital investments (48 percent) while for oil & gas service providers the biggest challenge is securing personnel with the right expertise (41 percent).
• More than 50 percent of customers are comfortable providing data to trusted service providers.
• Customers are weighing several different factors when selecting a service provider, however, cost is not the most important—expertise ranks at the top, followed by trust.

“Service providers are in a unique position today to bring about real change for asset management in the power and oil & gas industry,” said H. Christine Richards, research director, Zpryme. “Our study shows that service providers and customers are ready for information sharing, but the question now is: How do service providers best step up and deliver this information?”

One approach is a Connected Services framework that can help address the challenges facing both service providers and customers.

“Over the last 30 years we have seen our customers transform their world with data,” said Martin Otterson, Executive Vice President of Sales, Marketing and Industry at OSIsoft. “ Technology offers a novel way to transform current business models and partnerships through sharing of operations data and insights. Experts across physical, business and geographical boundaries can now work more effectively by combining data, expertise and knowledge to impact operations and business”

A Connected Services framework transforms the business value of aftermarket services. Connected Services provide a simple, secure technical and commercial framework for service providers to access real-time sensor-based data from customer assets. Real-time access to operational data enables them to deliver timely, accurate solutions while cutting costs and maintaining intellectual property.

About OSIsoft

OSIsoft, a global leader in operational intelligence, delivers an open enterprise infrastructure to connect sensor-based data, operations and people to enable real-time and actionable insights. As the maker of the PI System, OSIsoft empowers companies across a range of industries in activities such as exploration, extraction, production, generation, process and discrete manufacturing, distribution and services to leverage streaming data to optimize and enrich their businesses. For over thirty years, OSIsoft customers have embraced the PI System to deliver process, quality, energy, regulatory compliance, safety, security and asset health improvements across their operations. Founded in 1980, OSIsoft is a privately-held company, headquartered in San Leandro, California, U.S.A, with offices around the world. For more information visit osisoft.com.

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