25 Jan Improved technology fuels Baker Hughes’ global growth
The oil company Baker Hughes is poised to grow in the coming year, mainly because of smart technological investments.
The Houston-based organization is expected to benefit from the exploration and production sector’s continuous shift toward improved technology and efficiency. Analysts at the International Strategy & Investment Group (ISI) made this announcement earlier this week, projecting that Baker Hughes will grow by roughly 20 percent in the Gulf of Mexico region in 2013, but the organization indicated that real improvements will happen in Eastern continents.
“ISI is forecasting Baker Hughes’ strongest growth in 2013 to come from its Eastern Hemisphere operations, driven largely by new contracts in Iraq, Saudi Arabia and East Africa and continued solid growth in the North Sea, one of the company’s largest single markets, according to the analysts’ research,” wrote Deon Daugherty, a contributor with Houston Business Journal.
It’s no surprise that technology is fueling global growth. Implementing new software applications designed to spur efficiency improvements can launch a company to greater heights. However, it’s important for technology to not only fuel growth, but to ensure it is organized so it can be sustained.
If new operations launch in various corners of the world, companies like Baker Hughes must be equipped with the right database software to properly view and process information. If data is not stored and evaluated correctly, poor decisions can be made that would be detrimental to the organization’s future economic viability.
However, if quality software applications are developed and implemented correctly, companies can use their improved resources to grow quickly and maintain operations on a grander scale. Custom application development can give organizations the flexibility to scale both vertically and horizontally, while increasing profits along the way.