Contributor: Doug Wendler
The topics of Transparency, Efficiency and Networks continue to be of interest to many people in different parts of the world and in different parts of the energy industry. Since we started the “TEN” conversations last year, the pace of change has accelerated.
The energy and commodities industries are evolving in three distinct ways: 1) commodities markets are becoming more volatile; 2) regulations are increasing, and 3) demand on existing corporate resources is rising.
While market participants are dealing with a variety of changes in the energy and commodities ecosystem, one common denominator emerges: the need to mine, manage and drive new data is creating a data avalanche.
While the term “data avalanche” sounds daunting, it also represents a unique opportunity to direct progress in how energy players centralize data and rationalize their systems to help reduce costs. Data management is fundamental to business success, and it is essential to have the right expertise behind the effort to achieve clarity. Better data management means better transparency.
When we talk about change, regulations enter the discussion very quickly, along with the uncertainty that new and pending legislation can generate. They are placing enormous strain on corporate resources and daily operations, and each stage of trade lifecycle is touched.
Energy players have to deal with a host of regulatory challenges, making it crucial to improve business process workflows, test strategies, and unlock the value of data across applications. As companies look to increase operational efficiencies and reduce costs, adopting cutting edge technologies are needed too.
What are some of your biggest challenges in terms of managing data and optimizing systems? How are you approaching the problem? Do you have success stories to share?
Take a deeper dive into these topics at SunGard’s Houston City Day on May 19th, an event completely dedicated to energy and commodities. Or join the conversation online through our website or on Twitter. We’d like to hear from you.