As the world shifts towards a more sustainable future, the energy industry is undergoing a transformation. Asset owners are increasingly confronted with global challenges, such as rising costs to maintain and operate their assets, increased pressure to improve asset performance, and the need to do more with fewer resources. It’s a daunting task to face these challenges, which requires a fundamental shift in how we create, manage, and operate assets. As the saying goes, ” What brought us here won’t get us there.”

Fundamental challenges require new fundamental approaches. Changing is the hardest thing to do because it involves rocking the boat. It impacts the core business, structure, culture, and legacy of an organization, which is a hard realization for most. So, what can we do to navigate this transition? In our view, data is one of the critical instruments to take the energy transition head-on. Organizations that transform their business into a competitive organization powered by data will be the ones who will be poised to reap the most benefits. Here are a few ways to get you started: 

1. Adopt new ways of cooperation

The energy transition requires flexibility in the process, information, and data exchange within an ecosystem of stakeholders and tools. Currently, in collaborations, organizations transfer complete sets of documents sequentially. This approach won’t cut it. Instead of document-based data handovers that waste too much effort and time, we need explicit data handovers that are standardized, easy to create and take in, and based on open standard formats. Available for everybody.

2. Re-use information

Processing the same documents repeatedly is a waste of time and resources. Information meant as a standard and thus will be applied multiple times is fit to be managed and distributed more efficiently. By digitizing information and creating a library, we can access and apply information in an easy and less time-consuming way to support the core process. Applicable to anyone.

3. Move to explicit data

Data in silos, proprietary structures, or in a “black box” are all barriers to capitalizing on the potential value of your data. To get in control, you need to make data accessible whenever and wherever the business needs it. By implementing semantic modeling techniques to express information explicitly. And adopting Open Standards for structuring and exchanging data via the Internet, we can make data more explicit and structured. Accessible for anyone.

Digitalization and the energy transition are inseparable. They offer opportunities for organizations to accelerate the transition in a steady and stable way. At Semmtech, we provide services and solutions to organizations taking the energy transition head-on. We support and facilitate the move to explicit and structured data by providing semantic modeling services and data exchange capabilities. And by offering our software product, Laces. 

What brought us here won’t get us there. So don’t let change paralyze you; it’s time to take action and embrace the energy transition for a sustainable future.