Petro-technical applications and the projects within them are often impacted by data duplication, caused by numerous users having access to, and edit rights for, the same data. This creates several challenges, such as making the latest data changes available to all users and ensuring decisions are based on the correct data set.
Firms spend a significant amount of time and resources manually managing data flows between interpretation, engineering and production applications. They often make extensive use of spreadsheets and proprietary tools to compare data between different data models, identify changed values and assess conformity to standards.
EDM’s Rec&Sync solution helps firms overcome these challenges by monitoring reference data values across applications and within projects, in real time. It identifies and catalogues variances, and enables automated reconciliation between different versions of the same data on both the application and project level. Master attribute values can be synchronized, ensuring all users have access to the master data set directly within their application of choice. All activities within EDM are fully auditable, providing complete insight into corporate data flows and past activity.
EDM can be implemented on premise, on the cloud or leveraged as a fully managed service deployed with our cloud partner, Amazon Web Services (AWS). The latter option enables firms to reduce implementation times, future-proof, cut costs and scale up and down quickly as business needs change.
EDM is agnostic to both data format and structure. It includes connectivity to not only IHS Markit petro-technical solutions (such as Kingdom, Petra and Harmony), but also third-party products and data subscriptions. Data can be easily distributed from EDM to internal and external systems.
The consistency of static and reference data is ensured by conducting real-time monitoring and alerting users when changes are made. Users have access to, and can therefore base their decisions on, the master data set.
Master attribute values are synchronized on both the inter-application project level and intra-application level. Synchronization can be fully automated, with client-defined approval workflows providing complete insight and control.
Users benefit from a centralized view of their data across all projects and applications. An audit trail, full data lineage and history of changes are maintained.