The term ‘disruptive innovation’ refers to a new entrant in a market who disrupts and outperforms established players. When disruptive innovation is executed successfully, it is a force to be reckoned with. Such a strategy is not for the faint-hearted but choosing to ignore it can be fatal.
The process begins with a new company addressing a gap in the market where a segment of the population has traditionally been overlooked. By offering an alternative product or service that is usually more convenient and affordable, the new company is able to reach consumers who had previously been ignored.
Over time they build a foothold in the market and, through a process of continuous improvement and innovation, break into the competitive market with which they were previously not involved. Usually equipped with a better product and understanding of customer experience, the company is able to push established players out of the market.
A great example of successful disruptive innovation is Moblize, a trusted name applying Big Data Analytics in the oil and gas industry to improve the daily life of enterprise knowledge workers.
The Inception Story
Headquartered in Houston, TX, Moblize is committed to helping the oil and gas industry exploit software to simplify and streamline everyday operations. The industry is very good at hardware innovations but falters when it comes to software, especially in terms of using it as an enterprise platform.
Moblize recognized that the oil and gas vertical was in a prime position to be disrupted via data analytics software. They studied the gaps and limitations that existing service providers had chosen not to address, and then created a product from scratch which tackled those issues.
The end result was a revolutionary Software As A Service solution that eliminated pain points that had previously been ignored while integrating innovative features that greatly simplified everyday management.
An Adept CEO
Amit Mehta, CEO of Moblize Mr. Amit Mehta has been featured in numerous magazines such as Voyage, Forbes, CIO Magazine, JPT, World Oil, Hart E&P, Oilvoice, Oilman, Mixergy, Entrepreneur to name a few. Under his leadership, Moblize was ranked as one of the best Entrepreneurial Companies in 2016 by the Entrepreneur Magazine. Amit graduated from University of Cambridge, UK with degree in Design, Manufacture and Management. As part of the curriculum he visited 50 plus manufacturing plants across the globe and worked in the manufacturing plants of Peugeot, Jaguar and Boeing implementing lean manufacturing principles. Amit says that while everyone else is focused on applying big data or AI to make machines smarter, Moblize is focused on making enterprise users smarter. He cites the company’s maturity in data aggregation and data preparation services to enable true data analytics as a huge advantage.
Moblize has developed a SAAS growth platform to create a consumer like experience for enterprise users.
The typical enterprise user in the industry is overloaded with work because of inefficient enterprise workflows. Due to time constraints, decisions are often made on intuition instead of facts and this can lead to potentially expensive failures like overlooked opportunities and risk underestimation.
The ProMPT platform was designed to use data analytics to make humans smarter first, not machines. It is a technological breakthrough, an all-inone analytics platform that gives enterprise users a single source of facts for all daily tasks like well planning, daily operations, and post-well analysis. Detailed reports are available anytime, anywhere.
This platform collapses all inefficiencies into daily workflows so individuals can spend time where it is truly needed – engineering. It applies machine intelligence on incoming raw data to provide actionable facts and support big judgment from big data to make humans more productive and capable of smarter decisions.
The platform strategy of Moblize is driven primarily by its large customer base. Their first project was so successful that they signed over 40 E&P Clients in less than 18 months.
Today, the platform created ROI in less than 60 days with no upfront cost to the client. This has helped in shaping the adoption of current products and in the creation of the new products like ProFRAC and ProWISE as part of “ProMPT” platform.
ProWISE is a private knowledge platform for an enterprise that can learn over time to help unlock human potential. ProWISE allows enterprise users from any discipline to effortlessly share contextual insights from ProACT, ProFRAC, or any third-party applications through their mobile phones or PCs, making it an integrated knowledge platform holding both structured and unstructured data.
Over time, ProWISE “learns” things about users through posts, decisions, discussions, pictures, videos, and more. Then, it mines that data to in future give recommendations, generate reports, and simplify workflows, enabling big judgement in the era of big data. ProWISE also aims to reduce the knowledge insight deficit which frequently plagues enterprises as they add new talent.
From Early Obstacles to Growth Strategy
Moblize’s greatest initial challenge was hiring the right talent, and this was exacerbated by Houston’s standing as a very hardware-centric market with a scarcity of good software talent. Adoption was the other major challenge because Moblize was not a known brand; it was an uphill battle to establish a reputable presence.
However, when the market did recognize their value, growth happened so quickly that internal processes were stretched thin. Balancing growth while maintaining superior service was not easy. Some of the factors which the organization considers it to be its biggest assets are:
- Implementation of best practices from Silicon Valley on how to run software as a business
- Its team of talented people who are self-driven, self-motivated and push each other.
- Demanding clients who have them constantly pushing the edge
- An international presence which helps in ensuring competitive prices and sustaining healthy margins
Delivering Fast-Paced Success
The crash of the oil and gas market in 2015 was a key contributor to Moblize’s success because every E&P organization began to focus on operational efficiency and business agility, functions which are at the heart of the company’s products.
Moblize is growing by applying the fail-fast concept of rapid experiments, rapid learning, and rapidly adopting success while moving on from failure just as quickly.
The company gives its customers the advantage of the latest technology in cloud-based services and analytics. It plans to expand their capabilities and services to offer these concepts to a much broader range of industries and users.
Aiming to Thrive
Moblize has already marked its presence in the Oil & Gas drilling market and looks forward to expanding its reach and providing its solutions and services in new ones.
In the near future, they see themselves expanding rapidly into other oil and gas segments like completion and production. The aim is to become a leader in providing big data analytics to oil and gas enterprises and then replicating that success in other capital-intensive markets.
Source :-The Companies with Most Disruptive Innovation