Building a business case for data

Building a Business Case for Data

Convert NGL-LPG industry data to value quickly

Poor quality data costs organizations significant money in time and resources and, overall, creates mistrust in the business problem outcomes. According to Harvard Business Review, approximately 80% of data science is data wrangling, preparation, cleaning and normalization caused by not collecting data properly and/or a faulty validation process. This creates erroneous results for the business decision your organization is working to solve.

When considering a data purchase, pay attention to timeliness, data quality and your data provider's customer-service response time on making corrections to any data anomalies. Key data governance considerations include data collection method, data integrity, and data security. At Sulpetro Inc., our top priority is providing the most relevant, comprehensive data-set available in the natural-gas-liquids industry. Sulpetro Inc. possesses NGL-LPG industry data assets spanning over 20 years. Our analysts are always available to discuss our data and provide more information on any NGL-LPG producing facility in our database.

The business case for purchasing Sulpetro Inc. NGL-LPG industry data is improved productivity and expense savings realized by purchasing safe, secure data with the highest level of quality and granularity. We’ve done the heavy lifting for you so you can focus on delivering first-class business decision outcomes that improve gross profitability and wellhead value.

There are three main aspects to building a successful business case for your executive decision-maker:

1. Identify the research and/or business problems existing in your organization and establish how data will support a specific strategic goal or organization objective:

Driving financial performance gains

The Frac spread of a gas plant is a measure of the gross profitability of its natural-gas-liquids (NGL) barrel. Any NGL price analyst wanting to survey the NGL-LPG pricing environment or analyze the difference between natural gas price and the plant NGL sales value can utilize Sulpetro Inc. plant-level production volumes and commodity statistical tables to measure the transactional price for ethanes, butanes, propanes, natural gasoline or condensates.

Entering new markets quickly

Sulpetro Inc. supply-side fundamental market industry data can be used to quickly regionalize key NGL-LPG producing areas and identify growth regions, new partnerships, and/or production volume supply stability for access to existing logistics egress.

Enabling competitive differentiation

The global economy remains focused on continuous improvement and technological advancement. We are learning every day how the NGL-LPG industry can better participate in the cleaner energy transition of the future. Quickly turn valuable NGL-LPG industry production volumes and logistics egress data into meaningful decision-making actions and improve your triple bottom line.

Reducing the risk of changing fiscal regimes

Quickly regionalize annual production volumes affected by any new fiscal policy regime changes affecting territories that your organization operates within so you can calculate tax implications to your company and support strategic growth plans.

Cashing-in on improved business performance

Uncover the compelling data story by quickly visualizing regional gas plants, refineries and/or fractionator assets and logistics infrastructure in basin producing areas to identify merger, partnership and acquisition opportunities in and/or around your operating mineral leases.

Identifying opportunities driving capital project economic decisions

Good, clean and normalized datasets provide the ability to examine the regional supply-side market fundamentals influencing your organization’s capital project economic decisions.

Establishing market fundamentals

Develop expertise in supply and demand fundamentals, market shifts and trends affecting pricing, and explore new hydrocarbon-rich regions.

Bartering for favourable logistics terms & conditions

The logistics fees to move natural-gas-liquids to market can make a big difference in wellhead value. Supply-side production volumes data and process technology data is a key component to NGL logistic cost forecasts, pricing hedge positions and derivative-type contract terms.

2. Identify value drivers:

There are some fast and simple data uses from our NGL-LPG industry data to immediately demonstrate return on your data investment when considering growth plans in key Liquified-Petroleum-Gas regions. These are:

• To quickly turn valuable NGL-LPG energy market data into meaningful decision-making actions and improve gross margin profitability on gas plants.

• No-hassle, high-quality, clean, normalized data sets provide the ability to assess the market and uncover the compelling data story quickly.

• Analysts can visualize facility locations, find plant technology information on key regional players, plant capacities, logistics egress, storage, and view annualized production volumes. 

• Queried data from our cloud-based SQL proprietary gas-liquids database is easily downloadable as a .csv file and/or integrated using REST API into statistical software packages and your organization's business systems.

3. Measure the value of data:

Every investment requires us to quantify the cost-benefit and establish Key-Performance-Indicators. Your data investment is no different. Here are a few ways to quantify the value of using good, clean, and normalized data governed by a third-party agent:

Productivity 

High-quality can be defined by timeliness, richness, size, granularity, ease of understanding/use, and best practices used for standardization of data collection, preparation, cleaning, and normalization. Don’t waste valuable resources cleaning and preparing data. Instead, spend more time realizing better business outcomes through data-driven decisions. Your organization will gain significant productivity improvements in your marketing, research and/or business development department by simply purchasing high-quality NGL-LPG industry data. We’ve done the heavy lifting for you.

Time-to-value 

The initial investment for an organization in self-led NGL-LPG industry data collection, preparation, cleaning, and normalization will not return a positive ROI as any data learning organization comes to understand. So consider if your organization has the workforce and skills necessary to set up a data wrangling, data collection, and data management strategy to provide you with the depth and granularity of data you require to support your strategic decision-making.

Sulpetro Inc. has established data governance standards & methodologies used for over 25 years. The business case for a data asset purchase from this third-party data vendor is quicker, high-quality data to improve business decisions outcomes and realizes productivity gains.

Better and trustworthy decision results 

High-quality data will give your organization better and trustworthy results. To strengthen a data-driven and trusting organizational culture, assign a data champion in your organization. This can ensure everyone uses standard metadata terminology. It also helps encourage data literacy and develops trusted data-driven business decisions and market research outcomes without shadow economic models or silo-ed business decision processes.

Identifying and reducing risk

The risk management component of any business case for data considers data integrity, accuracy, and consistency to minimize those risks associated with building trust into a data-driven organization. 

Bottom line

Purchasing high-quality processed energy market intelligence data is a quick and inexpensive way to add value to any organization's strategic functions.

The bottom line is to establish the business problem you are trying to solve and link the data-use value to a specific strategic goal or organizational objective. Secondly, the goal is to identify data value drivers by specifying one or two quick uses to assist you in building an emergent data purchase business case to support your strategic functions. Lastly, you’ll want to quantify your data investment value and establish measurable Key-Performance-Indicators so you can gain valuable business insights and realize time-value gains to profitability using your NGL-LPG industry data purchase. All of these goals can be accomplished with Sulpetro Inc.’s comprehensive data-set.

Most importantly, purchasing high-quality processed NGL-LPG data with the highest granularity easily realizes time-value gains through better business decision outcomes and improved gross plant profitability and wellhead value.

Need help building your case? Contact us!

Request a meeting: Book here or call toll-free: 1 (833) 574-3282 (LPG-DATA)

www.sulpetro.com

This whitepaper is a free publication by Sulpetro Inc.

Sulpetro Inc. is a boutique energy industry data firm producing NGL-LPG data publications from their proprietary natural-gas-liquids database. The firm has been operating since 1983, and their publications have been produced for the oil and gas sector for more than 40 years. They have significant digital table-stock data assets spanning over 20 years that are widely used by government agencies, researchers, market analysts, natural gas liquids commodity brokers, traders, corporate planners, and others interested in understanding the market fundamentals of the natural-gas-liquids industry.