It was about time big data entered the lives of Big Oil. Yet it’s not happening exactly as expected. Oil companies are not making a mad dash to collect and process unstructured data in order to make sense of it and use it to expand or improve their business.
No, it’s individuals and startups that are leveraging the potential of these unstructured data to supply it in a structured and useful way to oil traders. The oil industry is notoriously opaque, especially those parts of it that are grouped in the Organization of Petroleum Exporting Countries.
Author: Irina Slav