As the drive towards digitization picks up speed in the oil and gas industry, it is quickly becoming an essential means of staying competitive by facilitating improvements in production development, safety, and overall quality. Because of this potential it is natural for businesses to embrace increasing levels of digitalization, specifically digital twin technology, which can maximize these benefits.
One of the key discussions most businesses entertain when deciding how to optimize digital twin technology is whether this should be developed internally, or whether they should partner with a technology company.
Partnering with a digital technology expert can often jumpstart a project. Most potential software partners have already developed significant architecture and use cases which can quickly be implemented. Further, their experience can often lead to insights and advantages which could not otherwise be achieved, avoiding common setbacks. On the other hand, the company inherently understands its data, organization and potential challenges much more intimately than an outsider can hope to. Additionally, they may determine that some of this knowledge is strategic for the organization and any potential third party dependability should be avoided.