Data and analytics to drive the future

Galp wants to become a “data-driven” company, but to do so it is essential to “involve people and show how analytics can help add value to our operations”, explains Jorge Afonso, Chief Data & Analytics Officer (CDAO) of the company. This is what we tried to do during the Data Open Day, which showed teams the potential of this new era of business

One of the main dimensions for the success of data transformation is people. With this objective in mind, Galp organised the first edition of the Data Open Day on 22 and 23 November, an event that aimed to raise awareness of the different data and analytics initiatives being carried out at Galp, involving the entire organisation through clarification sessions, exchange and debate forums, informative spaces and some activities.

There is gigantic value in all this information that is being accumulated, began Filipe Silva, who highlighted the effort that has been made in the last two years to make sense of the data internally. Galp's CEO and Chief Financial Officer (CFO) ensures that this has been the mission of the Data Office and that, now that the foundations have been laid for the future, he is counting on all employees to ensure that the data is put to good use. In 2023 we will have to start using this source of wealth. There is no point in having a Ferrari if you don't know how to drive it, he says, adding that there is a lot of value to be captured through this strategic asset. A message that reinforces how important it is to involve people in this journey and train them as data and analytics professionals.

Galp's CEO and financial director stressed the importance of Galp's human resources to face the competition

The Data Open Day brought together several experts who shared their knowledge and perspectives on this topic. "The idea was to bring professionals from other sectors recognised in this field to an open and transparent debate on what is being done abroad and to understand how we can learn from it," said Jorge Afonso, in an interview with Energiser. For the CDAO, the broad exchange of experiences allows everyone at Galp to have access to privileged information about what other sectors are doing in this area. A unique opportunity to keep this know-how internally as an inspiration to do more and better.

In addition to the sessions and discussions promoted, employees had the opportunity to interact with the data and analytics teams and learn about key initiatives that are impacting the business. The main objective was to communicate the change and prepare the organisation to actively embrace this journey, showcasing the work that the data teams have done collaboratively to get this far.

A transformational journey

Since the creation of the Data Office at Galp, several milestones have been achieved to improve the company's ability to use data to improve the business.

An example of this was the launch of the Business Enablement Strategy (BEST), a programme that aims to implement a data strategy in all of the company's business units. Now, as data strategist Catarina Araújo explains, "it is the strategic objectives of each area that define the data initiatives developed, guaranteeing a real impact on their achievement and, consequently, on the strategic objectives of the organisation".

2022 was also a year marked by the optimisation of the data delivery process to Galp's teams and by the implementation of standards and guidelines to ensure its governed, secure and effective use. In addition, the energy company pioneered the implementation of a central platform for the governance of data available in the Company, Collibra. A Data Science centre of excellence was also created to accelerate the implementation of analytics in the organisation. Galp also proceeded to formalise data-related functions, such as Data Stewards and Data Custodians.

For the future, there is one certainty: it will focus on ensuring that everyone is part of and understands this transformation, and on scaling up the solutions already in place, with the main focus on leveraging analytics and decision making from the insights generated. "Galp is becoming a data-driven company, and we have reached a point where analytics and artificial intelligence will take centre stage. Our sector has never been so conditioned by the continuous fluctuations generated by the macroeconomic context, which makes it even more relevant to extract value from data to make sustained decisions. Next year we will put all the foundations we have been building at the service of citizens, supported by an integrated data strategy linked to specific business objectives. Everything we do will have an impact and a foundation of value, and that will help the organisation focus on what really matters," says the CDAO.