Released October 06, 2020 | SUGAR LAND
en
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The global energy market data business is innovating and digitizing at a rapid pace to keep up with changing workforce patterns brought on by the pandemic. Remote workers have less time to make decisions, and need better data delivered more rapidly and in harmony with company work flow.
Accurate, reliable, seamless and connected information within trading platforms are a necessity for the new workplace, transformed by the separation requirements of COVID-19. Analytics, decisions and trades are now scrutinized by teams remotely, and meetings over office desks have given way to technology apps that connect the staff virtually. That has forced market data and intelligence providers to deliver services that users can count on, and offer collaboration for their teams.
"Traders, bankers, analysts and other market participants need a new, more dynamic platform that creates actionable intelligence from an ever-widening information flow, enabling faster and more profitable trading and arbitrage," said Paul Copello, president of IIR Energy, a division of Industrial Info Resources.
Copello continued: "Technology continues to advance exponentially. Data warehouses have become data lakes, and uncovering data-driven insights requires ever-more-powerful data analytical tools. Data providers, no less than other market participants, must up their game."
"A more distributed workforce requires more advanced technology to better manage today's always-on, dynamic workflow," the IIR Energy president added. "The boom in technology stock values during the pandemic is another proof-point that technology has become the dominant force in the economy. In the energy market data ecosystem, users have to be faster and more accurate. One way to accomplish that is to have a platform that creates actionable intelligence from disparate sources of information."
The forces driving change in the energy data market have been compounded by COVID-19's remote-work practices, he continued. Many people's work days have been lengthened since so many of them are working from home. No more hour-long commutes each way to the office. Business travel and business lunches are becoming a distant memory for many. Remote learning for children in the household adds distraction to many home-based workers, resulting in a synthetic lengthening of the work day.
"We are seeing all those trends intersect in the energy data market," the IIR Energy president said. "Users demand accurate, reliable, collaborative and seamless intelligence to power their workflow while staying current with market conditions, industry clusters and teammates. It's enough to make your head spin!"
"Fortunately, our new Global Market Intelligence Platform keeps users ahead of those needs. Our new platform reflects recent revolutions in technology, analytics and research to provide the mission-critical answers users need."
The new platform is live, and IIR Energy is now introducing it to existing clients and prospects. Current IIR Energy subscribers will automatically move to the new platform when they renew their subscription. For more information or to schedule an online introduction, please email iirteam@iirenergy.com
By leveraging best-in-class research from Industrial Info with technology partners like Broad Peak, Data Slice, TIBCO, Tableau, Microsoft Power BI, and analytical modeling companies like Refinery Calc and Fundamental Analytics, IIR Energy has delivered a platform for high-impact decision-making across all major energy sectors, Copello continued. "Our new platform shows we're evolving to keep clients ahead of this global strategic transition in energy."
The oil production and petroleum refining sectors are leading the charge in demands for better answers. The global energy transition is being driven by efforts to decarbonize as a way to fight climate change, and by the COVID-19 pandemic. The pandemic has cut into demand for refined products around the world.
"A world using less gasoline, diesel and aviation jet fuel has less need for refining capacity and crude oil," the IIR Energy president said. "As margins have been pressured, some unprofitable refiners, many located in Europe, are considering closing down or shifting their product slates to produce more renewable diesel and biodiesel fuels. That trend could be accelerated by the announcement of millions of barrels of new refining capacity, mostly scheduled to be built in Asia, thus increasing the combative landscape and the need for cutting-edge solutions."
The new IIR Global Marketing Intelligence Platform integrates a number of new data sources, and in a wide variety of formats -- PDFs, Tableau dashboards, Excel spreadsheets, news feeds, web-based trading data and so on -- allowing users to customize their information flow and create actionable intelligence, whereas before there was only data.
The industrial plant and project databases maintained by Industrial Info are foundational elements of the new IIR Energy Global Market Intelligence Platform. Refinery Calc is another data source, as are the International Energy Agency (IEA) (Paris, France), the U.S. Energy Information Administration (EIA) (Washington, D.C.) and various news feeds, like Reuters and Bloomberg.
i2 Enabled's Chief Strategist Geoffrey Lakings said, "We have partnered with IIR Energy over a long period to build the best-in-class platform, which optimally combines leading research, technology and analytics so that traders, analysts, bankers and other market participants can stay ahead of their competitors." i2 Enabled Incorporated is headquartered in Houston, Texas.
"As worldwide energy information continues to grow exponentially, we are crafting a modern Data Lake where data warehouses once stood," Lakings continued. "This new IIR Energy platform will provide this Data Lake with Lake houses in the form of Excel, TIBCO, Microsoft Power BI, Tableau and Data Science as well as the bait and tackle, in the form of dashboards, data visualization, and tailored solutions that will enable users to fish faster and more profitably for information and insights. The new IIR Energy platform is more robust, dynamic and interactive than any other platform in the industry."
Added Adriano Soares, director of operations at i2 Enabled: "Data is only as good as its visualization. I used to trade commodities and I was overwhelmed by data but underwhelmed by data visualization platforms. The new IIR Energy Global Market Intelligence Platform will enable users to check refinery slates and yields, as well as other critical market information, with a single keystroke. No more manual calculations or best guesstimates. The world's energy challenges are getting more complex every day, and this new platform will help traders, bankers, analysts and other market participants with better-quality data and superior data visualization, leading to lower-risk and more-profitable trading decisions."
About i2 Enabled
Houston-based i2 Enabled provides unparalleled strategic advice in the assessment, functional design, development, implementation and user adoption of modern solutions for energy commodities trading organizations. Focusing on client specifications for trading, as well as market and risk analytics, and drawing on the commodities trading backgrounds of its principals, i2 Enabled stands out for its strong background in evaluating processes to derive data-enabled forward-looking programs for clients. The company will then in turn design, build and implement appropriate optimal client-tailored deliverables, thereby increasing client profitability while streamlining their operations. i2 Enabled solutions optimize your business by making the most of data alignment, analytical models and data visualizations.
About IIR Energy
IIR Energy is a long-time provider of critical supply-side market intelligence, news, data, analysis and insights on trends and developments within energy and industrial sectors, enabling analysts, bankers, traders and other market participants to optimize their decision-making and profitability. Our fundamentals market intelligence in Oil, Natural Gas, Refining, Petrochemicals and Power Generation, coupled with access to Industrial Info Resources' unparalleled project and plant database, turns information into intelligence.
About Industrial Info Resources
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook-Twitter-LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
Accurate, reliable, seamless and connected information within trading platforms are a necessity for the new workplace, transformed by the separation requirements of COVID-19. Analytics, decisions and trades are now scrutinized by teams remotely, and meetings over office desks have given way to technology apps that connect the staff virtually. That has forced market data and intelligence providers to deliver services that users can count on, and offer collaboration for their teams.
"Traders, bankers, analysts and other market participants need a new, more dynamic platform that creates actionable intelligence from an ever-widening information flow, enabling faster and more profitable trading and arbitrage," said Paul Copello, president of IIR Energy, a division of Industrial Info Resources.
Copello continued: "Technology continues to advance exponentially. Data warehouses have become data lakes, and uncovering data-driven insights requires ever-more-powerful data analytical tools. Data providers, no less than other market participants, must up their game."
"A more distributed workforce requires more advanced technology to better manage today's always-on, dynamic workflow," the IIR Energy president added. "The boom in technology stock values during the pandemic is another proof-point that technology has become the dominant force in the economy. In the energy market data ecosystem, users have to be faster and more accurate. One way to accomplish that is to have a platform that creates actionable intelligence from disparate sources of information."
The forces driving change in the energy data market have been compounded by COVID-19's remote-work practices, he continued. Many people's work days have been lengthened since so many of them are working from home. No more hour-long commutes each way to the office. Business travel and business lunches are becoming a distant memory for many. Remote learning for children in the household adds distraction to many home-based workers, resulting in a synthetic lengthening of the work day.
"We are seeing all those trends intersect in the energy data market," the IIR Energy president said. "Users demand accurate, reliable, collaborative and seamless intelligence to power their workflow while staying current with market conditions, industry clusters and teammates. It's enough to make your head spin!"
"Fortunately, our new Global Market Intelligence Platform keeps users ahead of those needs. Our new platform reflects recent revolutions in technology, analytics and research to provide the mission-critical answers users need."
The new platform is live, and IIR Energy is now introducing it to existing clients and prospects. Current IIR Energy subscribers will automatically move to the new platform when they renew their subscription. For more information or to schedule an online introduction, please email iirteam@iirenergy.com
By leveraging best-in-class research from Industrial Info with technology partners like Broad Peak, Data Slice, TIBCO, Tableau, Microsoft Power BI, and analytical modeling companies like Refinery Calc and Fundamental Analytics, IIR Energy has delivered a platform for high-impact decision-making across all major energy sectors, Copello continued. "Our new platform shows we're evolving to keep clients ahead of this global strategic transition in energy."
The oil production and petroleum refining sectors are leading the charge in demands for better answers. The global energy transition is being driven by efforts to decarbonize as a way to fight climate change, and by the COVID-19 pandemic. The pandemic has cut into demand for refined products around the world.
"A world using less gasoline, diesel and aviation jet fuel has less need for refining capacity and crude oil," the IIR Energy president said. "As margins have been pressured, some unprofitable refiners, many located in Europe, are considering closing down or shifting their product slates to produce more renewable diesel and biodiesel fuels. That trend could be accelerated by the announcement of millions of barrels of new refining capacity, mostly scheduled to be built in Asia, thus increasing the combative landscape and the need for cutting-edge solutions."
The new IIR Global Marketing Intelligence Platform integrates a number of new data sources, and in a wide variety of formats -- PDFs, Tableau dashboards, Excel spreadsheets, news feeds, web-based trading data and so on -- allowing users to customize their information flow and create actionable intelligence, whereas before there was only data.
The industrial plant and project databases maintained by Industrial Info are foundational elements of the new IIR Energy Global Market Intelligence Platform. Refinery Calc is another data source, as are the International Energy Agency (IEA) (Paris, France), the U.S. Energy Information Administration (EIA) (Washington, D.C.) and various news feeds, like Reuters and Bloomberg.
i2 Enabled's Chief Strategist Geoffrey Lakings said, "We have partnered with IIR Energy over a long period to build the best-in-class platform, which optimally combines leading research, technology and analytics so that traders, analysts, bankers and other market participants can stay ahead of their competitors." i2 Enabled Incorporated is headquartered in Houston, Texas.
"As worldwide energy information continues to grow exponentially, we are crafting a modern Data Lake where data warehouses once stood," Lakings continued. "This new IIR Energy platform will provide this Data Lake with Lake houses in the form of Excel, TIBCO, Microsoft Power BI, Tableau and Data Science as well as the bait and tackle, in the form of dashboards, data visualization, and tailored solutions that will enable users to fish faster and more profitably for information and insights. The new IIR Energy platform is more robust, dynamic and interactive than any other platform in the industry."
Added Adriano Soares, director of operations at i2 Enabled: "Data is only as good as its visualization. I used to trade commodities and I was overwhelmed by data but underwhelmed by data visualization platforms. The new IIR Energy Global Market Intelligence Platform will enable users to check refinery slates and yields, as well as other critical market information, with a single keystroke. No more manual calculations or best guesstimates. The world's energy challenges are getting more complex every day, and this new platform will help traders, bankers, analysts and other market participants with better-quality data and superior data visualization, leading to lower-risk and more-profitable trading decisions."
About i2 Enabled
Houston-based i2 Enabled provides unparalleled strategic advice in the assessment, functional design, development, implementation and user adoption of modern solutions for energy commodities trading organizations. Focusing on client specifications for trading, as well as market and risk analytics, and drawing on the commodities trading backgrounds of its principals, i2 Enabled stands out for its strong background in evaluating processes to derive data-enabled forward-looking programs for clients. The company will then in turn design, build and implement appropriate optimal client-tailored deliverables, thereby increasing client profitability while streamlining their operations. i2 Enabled solutions optimize your business by making the most of data alignment, analytical models and data visualizations.
About IIR Energy
IIR Energy is a long-time provider of critical supply-side market intelligence, news, data, analysis and insights on trends and developments within energy and industrial sectors, enabling analysts, bankers, traders and other market participants to optimize their decision-making and profitability. Our fundamentals market intelligence in Oil, Natural Gas, Refining, Petrochemicals and Power Generation, coupled with access to Industrial Info Resources' unparalleled project and plant database, turns information into intelligence.
About Industrial Info Resources
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook-Twitter-LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
