The role of Data Exchange Standards
Whether you organization is delivering data to customers or developing software solutions either for commercial licensing or for internal service delivery, a standard data format saves countless development hours providing specific formats for all the different platforms used across the industry, as well as reducing significantly the time spent testing and checking data as it transits across complex data connection systems.
What does the adoption of data exchange standards entail?
Developing or updating data input and output procedures and/or implementing software to correctly manage data standards is an initial investment. It pays off within 6 to 12 months by significantly reducing the number of interfaces that need to be maintained, and by being able to offer customers a richer data format, notably in terms of large amounts of metadata, that allow for an up-sell of services.
Why does a technology or service company need to support standards?
Moving in the direction of standards data exchange formats makes strong business sense when one considers the number of large customer organizations, notably multi-national majors, large independents and National Oil Companies (NOCs) that are have been and continue to be strong backers of the standards organizations.
Standards are developed using the efforts of Special Interest Groups (SIGs) that bring together experts from member organizations (operators, service and technology companies) to develop the specifications for data standards in a collegial manner. Being a member of one or more SIGs allows service or technology company experts to take part in the process, ensuring that new standards incorporate items relevant to company-specific activities or products.
For more information or to join today
Please get in touch with us to discuss membership. Look at the list of companies currently supporting the consortium, read some papers about standards, see our latest news or consider meeting with us at an upcoming event.