Primary activities of any oil and gas company generate large amount of data. This is developing heightened demand for big data and services in this sector. The market ofr such solutions is expected to grow by $3.99billion to $5.41billion in 2020.  Big data analytics could help in reducing time lag, and improving drilling parameters in identifying any traces in seismic signatures derived from geological and operational data. Employing data analytics can also help detect any abnormalities in drilling and could save millions in labor and equipment costs. Recovery and production can be enhanced by applied analytics seismic and drilling data. One of the major challenges faced by large companies is lack of skilled labor which can be solved with knowledge management using big data. Recent Paris Agreement has created unprecedented opportunity for countries for decreasing temperature less than two degrees celcius above pre-industrial time which encourages oil companies to improve operational performance and efficiency. Read more at: http://www.technavio.com/blog/how-oil-and-gas-using-big-data-better-operations

There are many cases of project failures where managers are actually blamed. The reason behind such failures is lack of communication between clients and project managers. To make a project successful, we need to understand specific needs of the clients and address the technical glitches. To know more kindly refer to the below mentioned link: http://blog.parallelprojecttraining.com/project-management-articles/project-managers-need-stand-counted/

The 25-bed critical access Monadnock Community Hospital faced a huge deficit as a direct result of an unexpected ice-storm that hit the state of New Hampshire in December 2008, causing a two-week power outage. The hospital was in deep financial trouble.Fortunately for the hospital and the region, the hospital management had decided to look into various options to bail the hospital out of this crisis. The hospital's lab department had some success following a lean Six Sigma model, so the hospital authority pursued the strategy hospital-wide. Mr. Peter L. Gosline, president and CEO of Monadnock Community Hospital, had highlighted the success of the hospital's five-year "lean" journey during the American College of Healthcare Executive's 2014 Congress in Chicago, a model that he estimates has saved the organization $1 million a year!

To read more, visit the link address given below:

http://www.fiercehealthcare.com/story/how-lean-strategies-saved-nh-critical-access-hospital-financial-ruin/2014-04-07

Lean Six Sigma is a managerial concept combining Lean and Six Sigma that results in the elimination of eight kinds of wastes / muda (classified as Defects, Overproduction, Waiting, Non-Utilized Talent, Transportation, Inventory, Motion, Extra-Processing) and an improved capability of performance. The term Six Sigma is statistically based on the provision of goods and service at a rate of 3.4 defects per million opportunities (DPMO). A mnemonic for the wastes is "DOWNTIME”.

Over the years, this methodology has helped many firms to achieve process & output improvement. However, how about implementing lean six sigma concept to improve operating a city? That’s interesting! That was beyond our imagination. However, Tyler, a city located in Texas, United States, implemented Lean Six Sigma concepts to manage various projects and of course, with a saving of 5 Million US dollars, it can be said that the result was in its favour! Tyler Senior Public Relations Specialist Serena Butcher said the idea behind Lean Six Sigma is to identify waste and variation, so the city can save time and money and overall be more efficient. Mayor Barbara Bass also addressed attendees in a recent gathering to celebrate their success, saying, “In five short years, we’ve changed the culture of how we look at our jobs at city hall.”

To read more about how implementing Lean Six Sigma concepts actually worked for the City of Tyler, visit the following link address:

http://www.tylerpaper.com/TP-News+Local/197509/lean-six-sigma-city-of-tyler-celebrates-over-5-million-in-savings-with-program#.U0I6iqhgXgw

Six Sigma is not just a toolbox. It is a way of thinking about business, about processes and about cause-and-effect relationships. To ensure success, the application of Six Sigma relies on traditional scientific methods to examine processes, remove undesirable causes and their effects. Six Sigma also seeks to innovate through the discovery of truth with refined, rational cognitive skills and the objective analysis of empirical data. It is a collection of tools. It is a methodology. It is a thought process that dissects the large picture into smaller parts and reassembles it into a more efficient configuration.

Many of the tools used for Six Sigma also proved useful in conjunction with TQM and other process improvement methodologies. While some of the tools are new to process improvement activities, it is important to note that Six Sigma also provides a new way to use existing tools. This leads to a debate about whether Six Sigma is something new or a new way to employ existing tools!

An article by Robert Tripp, Scot Shank and Mike Carnell, emphasizes on this debate and speaks about DMAIC phases of six sigma methodology. Visit the following link to access the article:

http://www.isixsigma.com/new-to-six-sigma/dmaic/six-sigma-toolbox/

Robust demand for continuous improvement talent remains concentrated on lean skill sets, but Six Sigma shows renewed strength in a new study. A survey conducted by the Avery Point Group on 7097 internet job postings revealed the changing demands landscape for lean and Six Sigma talent.

To read more, visit the following link:

http://www.industryweek.com/lean-six-sigma/demand-six-sigma-talent-staging-comeback