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Digital transformation (abbreviation DT, or sometimes DX) is defined as "the transformation of business by revamping the business strategy or digital strategy, models, operations, products, marketing approach, objectives etc., by adopting digital technologies." 
Transforming an enterprise, whether in Oil & Gas or any other sector, can be viewed as a more or less ambitious (or tactical vs. strategic) scale. One can distinguish three approaches, from the most conservative to the most disruptive:
- Using data captured from sensors to improve internal processes -- for example, to optimize the maintenance cycle of a pump.
- Finding new uses for data that is already captured, possibly by selling that data -- for example, by using geophysical or wireline information to set up a marketplace for subsurface data.
- Changing the business model of the enterprise, potentially abandoning a current business direction to open a new one -- as might be the case of a pump manufacturer who adopts a "servitization" strategy and rents the pump with a service contract on a pay-per-use basis instead of selling the pump outright to the operator.
Digital transformation is considered an umbrella term that covers a number of different approaches, listed below under "Topics" and described in separate pages.
- Internet of things (IoT)
- Machine Learning
- IT/OT convergence
- Standards relevant to digital transformation
- Digital transformation study group (DTSG) of SPE-GCS
- Events related to digital transformation
- Calendar of DTSG lunch-and-learn events (working document)
- OnePetro papers related to digital transformation
- Wikipedia. 2018. Digital transformation (19 June 2018 revision). https://en.wikipedia.org/wiki/Digital_transformation (accessed 19 June 2018).