Why Satellite & IoT are Key for the Oil & Gas Industry with Globalstar
On this week’s episode of the Real World IoT Podcast, host Ken Briodagh discusses why satellite connectivity is crucial to the productivity of the Oil & Gas Industry with Data Services Manager at Globalstar, Marty Jefferson. Marty has been with Globalstar for a little more than ten years, with a steep background in the highly competitive terrestrial and satellite voice and data communications markets. Globalstar is a leading provider of mobile satellite voice and data services. Globalstar offers these services to commercial customers and recreational consumers in more than 120 countries around the world.
Advantage of Satellite Connectivity
Companies continue spreading their wings as they grow and as they start going into areas that are more sparsely populated but provide some sort of advantage, they begin to lose that connectivity with their devices or machinery out in the field. This visibility of assets is crucial because these assets can be worth an extreme amount of money. In the fields of Oil and Gas or Forestry or Transportation, moving the equipment to the workplace is one of the more expensive portions of getting the job done.
Keeping tabs on this expensive equipment can provide information to make important business decisions, ultimately saving you money when deciding how to manage all of the moving pieces. It now becomes easier to do when you are able to track all of your assets no matter where they are around the world, because you are relying on satellite coverage, not cellular. People are becoming more and more accustomed to pressing a button and having things delivered overnight. This is why being able to provide services and machinery where and when they are needed is so important to doing good business and making people happy.
Continued Value Derivation
As these applications continue to grow and we see companies like Globalstar with their satellite connectivity providing services to customers, there will be more benefits found to improve your business operations. A good example being seen is a switch from real time analytics to exception based analytics. This is crucial to any logistic decision for managing your products and equipment wherever it is available. A good example Marty gives involves a gas tank that isn’t being used at certain times of the year compared to others. Rather than having a truck come out to refill on a schedule, and possibly waste time if the tank doesn’t need to be filled, it will base its routes on the quantity within the tanks. This saves time and money using exception based analytics that are applied to the satellite tracking of the vehicles and the tanks to be filled. These services provide endless money and time saving potential that more businesses need to be taking advantage of to improve their daily decision making process.
Strong B2B partnerships and the desire for connectivity will carry this industry forward. While the population may be growing, with the support of IoT, the world is getting smaller every day and it is an exciting time to be in the middle of it. Stay tuned for our next episode of the Real World IoT podcast. If you’d like to learn more about how 151 Advisors’ IoT consultants can help you adopt your own IoT strategy, please contact us today.