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Maximizing ROI: Developing an Innovative App Solution for Oil and Gas Industry

Explore the benefits of app development for operational efficiency and revenue generation in the oil and gas sector. Learn how to monetize your product, ensure security, and enhance user experience for a profitable outcome.

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Maximizing ROI: Developing an Innovative App Solution for Oil and Gas Industry

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Presentation Transcript

  1. The Case for App Development • Technology can automate almost any process that a human can perform but at what cost? • What, How, Why, Who • Use Case Diagrams - a representation of a user's interaction with the system and depicting the specifications of a use case; A use case diagram can portray the different types of users of a system and the various ways that they interact with the system • Why does it make sense? • What service does your product provide? • Is it a fit for mobility? • How is this task currently performed / what makes it more efficient? • Not-for-profit v. for profit

  2. Define Your Consumer • Internal Customer Facing • Return On Investment [ROI] for the firm from an operational efficiency perspective • ROI from a revenue generation perspective [Licensing Fee’s, Maintenance] • Security / Infrastructure Concerns / Multi-client / Stand-alone application • Device Management / Bring Your Own Device [BYOD] • External Customer Facing • ROI for the firm from an operational efficiency perspective • ROI from a revenue generation perspective [Membership Fee, Function Set, Advertising] • BYOD

  3. Items to Consider • How can this product be monetized • Development Estimates / Speed to Market • Return on Investment [ROI] • Determine "by-product" value of your product • Mobile Device Platforms [iOS, Android, Windows, Blackberry] • Total Cost of Ownership [TCO] • IP

  4. Phased Approach • Vetting of requirements • Prove financial model • Spread cost development over a period of time / reinvest income into finishing the product offering • Additional product functions

  5. Judging Parameters • Agenda Correction: • 5 minutes to present designs • 10 minutes to answer questions • Clearly define the scope of the App upfront • Define the user base / Who would pay to develop your application and why? • Define the monetization and operational efficiency opportunities • Lead us through the use of the app; point our benefits to the user • Why does it need to be mobile? • Oil and Gas Specific

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