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Equinor Collaborates with TCS to Accelerate its Transformation into a Digital Energy Company

Posted On: 2020-10-27 02:13:01


Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, has been selected as a strategic partner by Equinor, the Norway-headquartered global energy company, to accelerate its digitalization journey and help realize its vision of becoming a digital energy company.

TCS will leverage its deep domain knowledge of the energy sector, expertise and scale in digital technologies and investments in research and innovation, to achieve data democratization across Equinor's core operations and harness the power of machine learning and advanced analytics to help Equinor achieve its growth and transformation objectives.

An initial focus area will be sub-surface data and analytics, where TCS will work with Equinor's teams to make available high-quality datasets anywhere, anytime, to different stakeholders, by populating Equinor's sub-surface data lake. This will act as a single source of truth for all subsurface data within the enterprise. Insights derived using machine learning and advanced analytics will enable Equinor to accelerate a more data driven approach to key business areassuch as exploration, field development, and operations, to improve hydrocarbon recovery rates and reduce extraction costs.

TCS will also help Equinor leverage data better in the area of safety, security and sustainability, to drive superior outcomes by correlating various safety reports and datasets, identifying relevant patterns and trends to predict and prevent incidents, and help improve its safety and sustainability outcomes.

TCS will use its proprietary DATOM™ framework to assess data maturity levels, identify gaps, develop a roadmap to simplify operating models, set up data governance models, and build technology patterns and architectures to help Equinor fully leverage data and analytics to drive superior business outcomes. Additionally, TCS will use its Location Independent Agile™ model to deploy innovative ways of working that will help enhance speed to market, while helping align outcomes closely with business objectives.

"Enterprises are increasingly realizing that the first step in a successful digital transformation journey is to become a data-driven organization. Data and analytics are today central to enterprises' ability to discover new value creation opportunities, and are becoming core to the enterprise operating model," said Dinanath Kholkar, Global Head, Analytics and Insights, TCS. "TCS is proud to partner with Equinor to create a strong data and analytics foundation, leveraging its capabilities in advanced analytics and AI solutions, and help accelerate their insights-driven transformation journey to become a digital energy company."

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2687.65 as compared to the previous close of Rs. 2686.45. The total number of shares traded during the day was 72725 in over 4708 trades.

The stock hit an intraday high of Rs. 2709.8 and intraday low of 2671.7. The net turnover during the day was Rs. 195822713.


Source: Equity Bulls

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