Corporate managers responsible for multiple fuel tank locations need remote technology applications to maximize their information use and increase the reach of their resources. Success when planning new remote technology projects can be measured in terms of increased profitability or ROI if the planners adequately address the build vs. buy decisions required when choosing the necessary hardware, software, deployment and integration strategy.
Business Intelligence Software are applications that build on existing data warehouses and provide analytical processing tools that allow users to more effectively analyze such data. This, in turn, permits businesses to more rapidly develop existing and new analyses and reports for improved decision-making power and information dissemination capacity.
ROI is based on the analysis of differential cash flows. In the case of remote data acquisition and aggregation systems for fuel tank operators, it is based on calculating the cost of acquiring and aggregating the data manually and compared to the total cost of owning, maintaining and operating an automated data acquisition and aggregation system.
To be successful in today's safety-conscious and efficiency-minded marketplace, companies must combine compelling new technologies to offer the most convenient and effective business services and solutions. For monitoring remote tank sites, that means combining the intelligence of General Packet Radio Service (GPRS) communication with the risk mitigation properties of intrinsic safety.
Companies that purchase fuels, chemicals, solvents and other products often have to make a choice: either reduce costs by keeping inventory levels low, risking run-outs and lost sales, or keep enough surplus inventories on hand to be prepared for unforeseen spikes in product demand, which tends to drive up inventory costs and market price risks.
We’ve become a world of instant information. We carry mobile devices that answer questions in seconds and we track our morning runs from screens on our wrists. News spreads immediately across our social feeds, and traffic alerts direct us away from road closures. As consumers, we have come to expect answers now, in real time.
Until recently, businesses that were seeking information about their customers, products, or applications, in real time, were challenged to do so. Streaming data, such as website clickstreams, application logs, and IoT device telemetry, could be ingested but not analyzed in real time for any kind of immediate action. For years, analytics were understood to be a snapshot of the past, but never a window into the present. Reports could show us yesterday’s sales figures, but not what customers are buying right now.
Then, along came the cloud. With the emergence of cloud computing, and new technologies leveraging its inherent scalability and agility, streaming data