How Could Bellrock Technology's Lumen Platform Advance Data Analytics In The Oil & Gas Industry

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Bellrock Technology is an early-stage high tech software company based in Glasgow. Wedevelop a disruptive software platform, called Lumen, which helps companies accessadvanced data analytics to support operational decision makers.Our beachhead market is the electric power sector. Here, generators and network operators aregathering more and more data, which is intended to help improve the performance, increasethe reliability and extend the operating lifetimes of critical equipment. Linking operationaldata with specialist analytics that can explain it to provide meaningful information hasbecome crucial. Such tools enable users to take decisions that are not only cost-effective butare also justifiable and in particular, can support companies’ freedom to operate in regulatedor safety critical industries.Implementing such analytics has traditionally been a time-consuming and costly process dueto the difficulty of linking them with operational (perhaps legacy) data systems. Lumenhandles this intelligently, meaning that bespoke development is no longer required.These problems are not limited to the electric power sector. Preliminary discussions with oiland gas field operators have indicated that corresponding issues exist in their industry.According to Forrester Research, the market for data analytics within oil and gas is estimatedto grow from 4.29m in 2014 to 19.65m in 2019 to help tackle such issues. We believe thatLumen could help to unlock the market for such analytics and to accelerate their adoption.Given the expected growth in data analytics and the increasing need for the support they canprovide, we wish to carry out a proof of market exercise to engage formally with oil and gasoperators and assess whether Lumen has true commercial viability in this sector. The exercisewill enable us to fully assess competitors, our Intellectual Property position and will producean estimate of timescales and costs to enter the market.