Oil & Gas Companies Continue to Invest in New Technology

oil workers with machinery large refinery in backgroundPlummeting crude oil prices have hammered oil and gas companies, but many of these firms are still making sizable investments in digital technologies according to a recent survey released by Accenture and Microsoft.

The “Oil and Gas Digital and Technology Trends Survey 2015,” conducted by PennEnergy Research, found that 32 percent of respondents plan to invest the same amount of their budgets in digital technologies, while another 25 percent plan to invest more or significantly more in those technologies. In the next three to five years, 80 percent of companies will invest the same amount, more or significantly more in digital technologies.

What are they investing in? Mobility, infrastructure, and collaboration technologies are the largest areas where they are placing their tech dollars presently. More importantly, in the next three to five years, they plan to deploy big data and industrial Internet of Things (IoT) technology, as well as automation systems. Continue reading

Healthcare IoT

healthcare-Internet-of-things-e1426259707221A recent survey conducted by Strategy Analytics found that healthcare providers are among the earliest adopters of Internet of Things (IoT) infrastructure and applications — that’s not surprising to us at Xerafy, since we’ve been working with early adopters to bring visibility and connectivity to surgical instruments and other medical equipment.

Of course, the IoT is big news everywhere. That same survey found that 30% of businesses across 45 vertical markets were already leveraging limited IoT deployments, while another 32% planned to deploy the IoT, and 42% were studying the costs and impact of the technology.

In healthcare, however, the advent of the IoT has occurred in conjunction with wider deployment of electronic medical records (EMRs) and deployment of telemedicine technology that relies heavily on the type of remote data collection and monitoring the IoT enables. MarketResearch.com expects this convergence to help fuel growth to nearly $117 billion in revenue by 2020 for IoT in the healthcare sector. Continue reading

The Internet of Things for Oil & Gas

1390028_meitu_1The Internet of Things (IoT) is the single biggest trend affecting every company. Effectively, all businesses are becoming data businesses and no one wants to be left behind.

Leading oil and gas (O&G) companies are already investing billions of dollars in IoT and realizing the benefits of efficient predictive maintenance, increased asset utilization and reduced cost of compliance. The digitization, sensors, and connectivity lead to the generation of large volumes of data; and by analyzing and correlating this data, O&G companies are now able to explore predictive analytics, make real-time decisions and implement continuous refinements like never before.

In our previous blog, “The Power of One Percent”, the oil and gas industry would save $90 billion over the next 15 years if it could reduce its capital expenditures by just one percent through the digitalization of automation. These figures come courtesy of research by GE, which strongly believes in the “power of 1 percent” concept and that savings are attainable if companies embrace the “Industrial Internet.” Continue reading

The “Smart Approach” to Endoscope Reprocessing

u=751906931,1520697405&fm=21&gp=0Endoscopy means looking inside and typically refers to looking inside the body for medical reasons using an endoscope, an instrument used to examine the interior of a hollow organ or cavity of the body. Unlike most other medical imaging devices, endoscopes are inserted directly into an organ.

Given the importance these instruments play in the care delivery process, the cleaning and disinfection of the endoscopes are extremely important for reducing the risk of endoscopic transmission of infectious diseases in hospitals. In fact, flexible endoscope reprocessing is often cited as the most prominent patient safety concern among healthcare practitioners. There have been many such cases of medical accidents reported in the heathcare industry and most are caused by poor management. Continue reading

Bar code on steroids? The real potential of RFID

Bar-code-vs-rfidRadio frequency identification (RFID) is often touted as a “bar code on steroids,” but that description belies the real potential of the technology. RFID provides all of the automated identification and data capture benefits of bar codes, with the added ability to store more data, operate in extreme environments, and to work even when the tag isn’t visible or when operators aren’t connected to a network. Those capabilities can enable new types of automation, tracking, and asset management applications that were not previously possible. For example:

RFID Works Where People Can’t. Tracking assets and other goods using bar code labels is all well and good when you are, for instance, tracking a box through a warehouse. But if you are trying to track items that are flowing through a paint booth, an autoclave, a chemical wash, or other harsh production process, a rugged RFID tag can function where bar codes and labels would fail and where employees simply can’t go. With that type of tracking, processes that take place in harsh environments can be easily automated. Continue reading