How AI Is Transforming the Oil & Gas Industry?

USM BUSINESS SYSTEMS

How AI Is Transforming the Oil & Gas Industry?

Leveraging artificial intelligence (AI) technology is proving not just worthwhile but also transformative for those working in a multitude of industries. Oil and gas executives are no exception.

Using disruptive technology applications like machine learning and predictive analytics can help industry insiders improve operations and could cut costs by $50 billion in upstream oil and gas activities alone. However, AI’s impact on the industry extends beyond cost savings, offering several potential benefits. It’s vital oil and gas executives understand what’s at stake — and what they stand to gain.

How AI shines

Big data is a core element of AI functionality, going beyond dated information buried in spreadsheets and moving toward up-to-date actionable intelligence. Oil and gas executives can collect and leverage big data in many ways to gain an edge.

To Know about: How is AI Transforming Life?

For example, according to the data-driven technology solutions such as wireless networks, remote sensors, and analytics software help industry insiders gather, track, and interpret data to maintain optimal production and efficiency. However, while incredibly valuable, AI goes far beyond smart data.

AI technology really shines in its potential to enhance human worker capabilities, freeing them up for greater strategic thinking and enabling smarter decision-making. AI-driven software can take vast amounts of unstructured data, such as seismic activity, and not only predict potential problems but also recommend solutions. In cases where data is incomplete or unreliable.

AI-driven systems can use “fuzzy logic” to overcome data information gaps essentially making sense of inconsistent data, a task that’s likely harder for humans to accomplish with the same accuracy levels. AI technology has the potential to propel the oil and gas industry into the future, reaching many aspects of the oil and gas production pipeline.

Making a business case

Leaders of the AI software company Nervana Systems are harnessing AI to revolutionize oil exploration. They use deep learning to train an “artificial neural network on how to find oil and gas using data from seismic studies.” Humans give examples using data sets, and the network then learns by example. Those at intelligent software technology company Kpler are tracking energy vessels and using deep machine learning to model trends.

To Know about: AI APPLICATIONS IN VARIOUS FIELDS

Oil and gas executives in other companies incorporate digital oil field technologies into their production processes. By setting up IoT field devices that measure different data points, analysts can use AI technology to gather predictive intelligence, which can help to maximize efficiency and safety by pinpointing unsuspected safety problems and predicting potential failures.

While business use cases can highlight specific benefits, what are the overall advantages oil and gas leaders stand to gain? Here are four key ways in which AI technology can positively impact oil and gas operations:

Improve operational efficiency.

Employ greater safety measures and tactics.

Elicit more cost savings.

Leverage vital predictive intelligence.

The time is now: Industry-specific AI technologies are in place for savvy oil and gas executives looking to gain an edge. The first step to leveraging AI is to harness your company’s data.

To Know about-AI In Agriculture — Future Applications & Its Tools

When starting a data analytics practice, consider master data management (MDM), system integration, and creating a data lake. AI requires smart data; once you’ve cleaned and organized your data, you can begin your journey toward AI-driven analytics, helping you achieve more strategic operations and greater efficiencies.

USM BUSINESS SYSTEMS

Benefits of AI in the banking industry-1

USM BUSINESS SYSTEMS 2020-11-30

It’s boggling that the bulk of the world’s wealth is stored in databases, and transactions are simply the exchanges of information over networks.As impressive — or scary — as that might sound, artificial intelligence technologies aim to further revolutionize the way banking is done and the relationships between banks and their customers’ experience.Always-on chatbot sidesteps banking hoursThere’s a reason why people deride banking hours.

Our money doesn’t sleep, so why should the banks?

Fortunately, AI in banking is one of the most impactful applications of artificial intelligence through the use of conversational assistants, or chatbots, to engage customers 24/7.Customers are increasingly comfortable with chatbots handling many things, even private conversations regarding bank transactions, bank services, and other tasks that don’t necessarily require human intervention.

For example, Bank of America introduced Erica as a virtual assistant to help with customer transactions, and that has shown significant positive ROI.

Many banks have quickly followed suit, although some with mixed results.In addition to fielding customer service inquiries and conversations about individual transactions, banks have been finding good results in using chatbots to make their customers aware of additional services and offerings.

For example, business customers might not be aware of merchant services and loan offerings that can help resolve payment or credit issues.

The overall impact of Artificial Intelligence

KoteshwarReddy 2021-02-23

At the same time, there are challenges in Artificial Intelligence App Development that international trade rules could address, such as improving global access to data to train AI systems.

Freed from the stressful commute to work, humans will be able to spend their time in many other ways.The way we discover criminal activity and solve crimes will be enhanced with artificial intelligence.

While there will be many learning experiences and challenges to face as technology is deployed in new Artificial Intelligence Applications, the expectation will be that artificial intelligence will generally have a more positive than negative impact on society.SPECIFIC APPLICATIONS OF AI TO INTERNATIONAL TRADE Image Source: hinrichfoundationArtificial Intelligence Technology is having an impact on the improvement and management of international value chains.

Companies can also use artificial intelligence to improve physical inspection and maintenance of assets throughout supply chains.The development of International value chains will be affected by the broader trends towards using Artificial Intelligence in Manufacturing.

For example, the German-led conception of Industry 4.0 is based on sensors, IoT and cyber-physical systems that connect machines, materials, supplies and customers.

of supply.THE FUTURE IS NOW: THE IMPACT OF AI IS EVERYWHEREThere is virtually no major latest Artificial Intelligence in the industry; more specifically, "narrow Artificial Intelligence," which plays objective functions using data-trained methods and often falls into the categories of deep learning or Machine Learning Software Development, has not been affected yet.

ERP Software for Oil and Gas Industry in India

Tech Cloud ERP 2021-02-12

Tech Cloud ERP provides an excellent ERP software for Oil and Gas Industry in India.

We are the top most software company for oil and gas industry management software in Hyderabad, India.Connect with usEmail: [email protected]: IND: +91 8919439603USA: +1 442 285 0780UK: +44 131 510 8706Website: www.techclouderp.com

How Polyurethane Is Used In Today’s Manufacturing Industries.

Insights Success 2021-02-01

Polyurethane is the material choice for companies across the board—from gym equipment to construction and everything in between.Commonly up against rubber, silicone, and plastic, polyurethane reigns supreme in the majority of instances because of its durability, customization options, tear strength, and corrosion resistance.Leveraging urethane parts in the manufacturing process can help with product quality, cost, and lead times.How Urethane Helps Automotive ManufacturingStated by custom urethane manufacturers, a prime example of how polyurethane is used in today’s manufacturing industry is the automotive industry’s parts and sealants.The automotive industry uses urethane to produce parts because it has a higher tear strength and abrasion resistance compared to common alternatives like rubber or silicone.

Polyurethane products can withstand contact with harsh materials such as road debris, coolant, oil, and grease.It also has higher durometers than rubber, which means it will last longer without being torn apart over time.Polyurethane is used for parts like motor mounts, but it’s also used in many other forms in the automotive industry.

Urethane is used as a coating on the exterior of a car to protect it against scratches.

How Urethane Benefits the Oil and Gas IndustryPolyurethane is the manufacturing material of choice for the oil and gas industry because of its durability, heat resistance, and customizability.This industry’s selling point is that polyurethane is weather and corrosion-resistant—making it ideal for mining, drilling, and marine environments.

It can be made with a bright color, which helps to call out dangerous parts that people need to stay away from, and it can be molded into any size or shape.Polyurethane is also used for refurbishing parts like pipeline rollers by giving them a protective coating.

By using it as a coating, you can bring parts that were once worn and corroded back to life.

Generative AI Growth Applications

yogita mali 2024-01-04

The Generative AI Boom: Unlocking High-Impact Growth Opportunities How Can Businesses Strategically Embrace Generative AI Growth Applications to Propel Their Success and Innovation? Top of FormKey Applications of Generative AI Marketing:Content Creation: Generative AI is revolutionizing content creation by automatically generating text, such as product descriptions, blog posts, and marketing materials. Other Generative AI applications:Numerous other industries, like gaming, journalism, and manufacturing, are also utilizing generative AI. Top of Form Generative ai economy:Given that artificial intelligence is now a key factor in economic growth, the generative AI economy is a paradigm-shifting development. Key Applications of generative ai economic potential:Content Creation and Marketing: Generative AI's economic potential is evident in content creation and marketing.

Lubricants Oil

Amanda Bell 2021-06-03

Lubrication is very important as it helps lessen the friction in engines and among its parts protecting them from wearing and tearing.

Pacific Petroleum has the best lubricant products for different businesses such as agriculture, automotive, power & energy, manufacturing, mining, drilling, construction and more.

Pacific Petroleum’s experienced technical services team is the backbone of the products we sell.Check here: https://www.pacificpetroleum.com.au/lubricants-for-businesses/

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ONGC’s increased earnings forecast over the next 12-18 months will aid in deleveraging

thebusinessberg 2022-03-04

The rating agency has raised its Brent crude oil price forecast for the rest of 2021 to $65 per barrel, up from $60 per barrel before. Standard & Poor’s stated on Tuesday that the better earnings outlook for state-owned Oil and Natural Gas Corporation Ltd (ONGC) over the next 12-18 months will support deleveraging. Despite the obstacles posed by the Covid-19 epidemic, the business demonstrated good flexibility in reducing spending throughout FY21. Its capital spending decreased to almost Rs 43,000 crore in FY21, down from over Rs 55,000 crore the previous year. The company’s increased profits and capital-spending flexibility could lift its funds-from-operations-to-debt ratio above 50% over the next 12-18 months, up from around 45 percent in FY21.

Finance Made Easy with Artificial Intelligence and Machine Learning

theindustryview 2023-01-27

This humongous amount, along with complicated calculations, complex decision making, and timebound result expectations, increases the difficulty in dealing with different processes in finance. Though computerization and digitalization have taken this responsibility and become a fundamental support base for the modern finance market, the real transformation is now being brought by Artificial Intelligence (AI) and Machine Learning (ML). That is where Artificial Intelligence and Machine Learning are coming in handy. With improved hardware, software, and automated machine algorithms, AI and ML are personalizing, standardizing, and streamlining the different business processes. An AI and ML-loaded fintech service has many features which make it easy for financial service providers to enrich their consumer’s experience.

The Rise Of Next-Gen Banking- AI-First Bank

Indus Net Technologies 2021-10-05

In 2020, when the world was devasted by the deadliest pandemic of all the centuries, we saw a rise in the adoption rate of digital banking services.

As per the Mckinsey report, a 20 to 50 per cent rise in adoption was recorded.

AI being an integral part of daily life, it becomes necessary to be AI-First to remain relevant to the changing market conditions.

To stay relevant, to stay unique, to compete and compel the ever-changing, tech-savvy customers, banks need to deploy the latest technologies at scale.

Conversational bankingIn conversational banking, banks leverage AI to engage with customers with chatbots and Robo advisors to recommend products that will be totally personalised.

To deepen the customer relationships, AI is deployed at scale in the front office and structure.

Artificial Intelligence in Food & Beverages Market Industry Analysis and Forecast (2021-2028)- By Application, product, End-user and Region

Swati Singh 2021-04-06

Market Analysis and Insights: Global Artificial Intelligence in Food & Beverages MarketGlobal Artificial intelligence in food & beverages market will grow at a CAGR of 43.53% in the forecast period of 2021 to 2028.

Growing concern regarding improvement of supply chain efficiency is an essential factor driving the artificial intelligence in food & beverages market.Artificial intelligence in food and beverages is defined as solutions which help in improving the supply chain of food & beverages industry.

Moreover, rising research and development activities and increasing modernization and technological advancements in the devices used to monitor artificial intelligence in food sector will further create new opportunities for artificial intelligence in food & beverages market in the forecast period mentioned above.Get More Insights About the Global Trends Impacting the Future of Artificial Intelligence in Food & Beverages Market, Request Sample @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-artificial-intelligence-in-food-beverages-marketHowever, rising stringent regulatory compliances related to food and safety processes, increasing costs of upgradations of machines/equipment and rising reduction in manual labour and increase in unemployment are the major factors among others restraining the market growth, and will further challenge the artificial intelligence in food & beverages market in the forecast period mentioned above.This artificial intelligence in food & beverages market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.

The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.· On the basis of organization site, the artificial intelligence in food & beverages market is segmented into small and medium & large enterprises.· Based on end-user, the artificial intelligence in food & beverages market is segmented into food processing, grocery and hotels & beverages industry.· The artificial intelligence in food & beverages market is also segmented on the basis of application into food sorting, quality control, consumer engagement, production & packaging and maintenance & others.Know more about this report https://www.databridgemarketresearch.com/reports/global-artificial-intelligence-in-food-beverages-marketGlobal Artificial Intelligence in Food & Beverages Market Scope Country Level AnalysisGlobal Artificial intelligence in food & beverages market is analysed and market size, volume information is provided by country, organization site, end-user and application as referenced above.The countries covered in the artificial intelligence in food & beverages market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).North America dominates the artificial intelligence in food & beverages market due to increasing preparedness for high fractional increase in and adoption of replacement artificial intelligence and rising need for analysis of consumer buying behaviour and prediction of inventory levels to reduce food wastage in this region.

Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance.

The above data points provided are only related to the companies’ focus related to artificial intelligence in food & beverages market.The major players covered artificial intelligence in food & beverages market report are GREEFA, TOMRA System ASA, Honeywell International Inc., Martec of Whitell Ltd. Sesotec GmbH, Key Technology Inc., Raytec Vision SpA, Rockwell Automation, ABB Ltd., Foodable Network, LLC.

AI In Industry: Use Cases & Applications

Sphinx Solution 2023-03-14

Today organizations or enterprises are adopting AI-driven solutions across multiple industries for streamlining their processes as well as reducing operational costs. The usage of AI in industry makes the entire industrial landscape more efficient, flexible, and reliable. In this blog, we are going to focus on 7 major industries that can be highly benefited from AI software development services in the near future. In a manufacturing plant, artificial intelligence is used across several operation lines and layers, from product design to workforce planning. Industrial artificial intelligence affects multiple use cases that proficiently drive profitability & help enterprises to manage all competitive advantages in the long run.

Artificial Intelligence: What to expect?

harmanjot singh 2021-08-31

What is Artificial Intelligence (AI)?

Artificial Intelligence is the limit of machines to have a free psyche.

Reproduced intelligence is displayed when a task, once performed by a human and considered as requiring the ability to learn, reason, and deal with issues, should now be conceivable by a machine.

An extraordinary portrayal is a self-administering vehicle.

The vehicle can see its ecological factors and make decisions to safely show up at its target with no human mediation.

Meeting developments close by Big Data and the Internet of Things (IoT) are driving the improvement of AI and AI progresses.

Artificial Intelligence and Why Should You Study Artificial Intelligence?

mk 2021-09-22

What is Artificial intelligence Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems.

Specific applications of AI include expert systems, natural language processing, speech recognition and machine vision.

If used appropriately it can cause success and progress of the humanity hitherto unseen.

Why should you study Artificial intelligence?Boosting your technical skills by understanding the planet of AI and the way it applies to your business and job role, or the career of your dreams, is one among the various reasons to upskill during this field.

All of the portion on the course speak on to the talents that employers are actively seeking within the AI development sector: from Python programming to machine learning to robotics and data science, the course underpins many AI applications to show you to the foremost in-demand topics within AI and prepare you to tackle the longer term.The course curriculum also as diverse and highly relevant, is taught by computer scientists specifically for professionals who recognise the importance of AI to their sector.

This suggests that the course content is presented that encourages you to critically engage in pushing the boundaries of best practice within your industry and potentially changing the way you impact business efficiencies in your sector.

AI in Computer Vision Market - NVIDIA and Intel are the Top 2 Players in the AI in Computer Vision Market

Mauli Naikude 2019-05-21

Market research report published by MarektsandMarkets "AI in Computer Vision Market analyzes the AI in Computer Vision Market by Component (Hardware, Software), Vertical (Automotive, Sports & Entertainment, Consumer, Robotics & Machine Vision, Healthcare, Security & Surveillance, Agriculture), and Region - Global Forecast to 2023", the AI in computer vision market is expected to be valued at USD 3.62 Billion in 2018 and is expected to reach USD 25.32 Billion by 2023, at a CAGR of 47.54% between 2018 and 2023.The increasing demand for computer vision systems in non-traditional and emerging applications and growing demand for edge computing in mobile devices are among the factors driving the growth of the market.With the increasing labor cost in the security market and use of robotics in the healthcare industry, AI-based computer vision systems are being used for many applications.

Hardware expected to grow at a high rate during the forecast periodThe key factor driving the growth of hardware in the AI based computer vision market is the growing penetration of AI-capable processors in mobile devices, such as smartphones, drones, automotive, and consumer electronics devices.

The major focus is to overcome challenges faced by industrial drones in terms of reliability, safety, and autonomy.

Major players operating in the AI in computer vision market includeNVIDIA (US), Intel (US), Qualcomm (US), Apple (US), Alphabet (US), Microsoft (US), Facebook (US), Wikitude (Austria), Xilinx (California), Basler (Germany), Teledyne Technologies (US), Cognex (US), General Electric (US), and Avigilon (Canada).

The company continues to lead in the development of new products for the AI in computer vision market.

About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.

Artificial Intelligence (AI) in Healthcare Market Analysis | Global Industry Report 2027

Tiya Tondon 2021-07-16

Global Artificial Intelligence (AI) in Healthcare Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 – DecisionDatabases.com The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved. The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities. The report classifies the market into different segments. These segments arestudied in detail incorporating the market estimates and forecasts at regional and country level. The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the COVID-19 Impact and Recovery on this industry.Browse the complete Global Artificial Intelligence (AI) in Healthcare Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/43775-artificial-intelligence-ai-in-healthcare-market-report The report also covers the complete competitive landscape of the global Artificial Intelligence (AI) in Healthcare market with company profiles of key players such as: Intel Corporation Nvidia Corporation Google IBM Corporation Microsoft Corporation General Vision Enlitic Next IT Welltok Icarbonx Recursion Pharmaceuticals Koninklijke Philips General Electric (GE) Company Siemens Healthineers (A Division of Siemens AG) Johnson & Johnson Services Medtronic Stryker Corporation Careskore Zephyr Health Oncora Medical Sentrian Bay Labs Atomwise Deep Genomics Cloudmedx The detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments. SEGMENTATIONS IN THE REPORT: By Product Type Deep Learning Querying Method Natural Language Processing Context Aware Processing Other By Application Hospitals Clinics Research Institutions Other By Geography North America (NA) – US, Canada, and Mexico Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa Download Free Sample Report of Global Artificial Intelligence (AI) in Healthcare Market @ https://www.decisiondatabases.com/contact/download-sample-43775 The Global Artificial Intelligence (AI) in Healthcare Market has been exhibited in detail in the following chapters –Chapter 1 Artificial Intelligence (AI) in Healthcare Market Preface Chapter 2 Executive SummaryChapter 3 Artificial Intelligence (AI) in Healthcare Industry AnalysisChapter 4 Artificial Intelligence (AI) in Healthcare Market Value Chain AnalysisChapter 5 Artificial Intelligence (AI) in Healthcare Market Analysis By Product TypeChapter 6 Artificial Intelligence (AI) in Healthcare Market Analysis By ApplicationChapter 7 Artificial Intelligence (AI) in Healthcare Market Analysis By GeographyChapter 8 Competitive Landscape Of Artificial Intelligence (AI) in Healthcare CompaniesChapter 9 Company Profiles Of Artificial Intelligence (AI) in Healthcare Industry Purchase the complete Global Artificial Intelligence (AI) in Healthcare Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-43775 Other Reports by DecisionDatabases.com: Global Animal Healthcare Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 Global Pediatrics Healthcare Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 Global Home Healthcare Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.

HOW AI IS PREDICTING THE FUTURE FOR CITIES OF TOMORROW?

Jacob Cole 2020-06-26

With the birth and expansion of Artificial Intelligence, the cities are getting more sustainable and convenient, and in the near future, the cities are going to get even smarter.Read Full Article: https://bit.ly/2NvTK2e

Which programming languages drive artificial intelligence in 2021?

IT Firms 2021-08-03

If you're about to work on an Artificial Intelligence project and have still not decided about which programming language to use, here's a cue.

We've listed the six most common programming languages to facilitate Artificial Intelligence projects.

Artificial Intelligence can predict Bowel Cancer

Lucille Bennett 2020-02-10

Colon cancer is a typical cancer that begins in the colon which is called as large intestine.

Colon is the final part of the digestive tract.Artificial Intelligence can predict Bowel Cancer

Material Handling Warehouse Automation Solutions Provider | Armstrong

Brandstorydubai 2021-01-31

https://armstrongltd.com Armstrong is India’s biggest Intralogistics automation company, with 20 years of experience, over 1000 projects, in 14 countries.

We build intelligent intralogistics solutions.

With innovative know-how, we automate your inbound, outbound, storage and sorting operations.

Our uniquely crafted solutions double your productivity, with 100% visibility and eliminate pilferage.

To enhance your profitability, we deploy Robotics, Artificial Intelligence, Machine Learning and Business Intelligence.

Armstrong's brilliant track record and a global footprint makes it India's best warehouse automation companies.

Data Science In Machine Learning - Artificial Intelligence

Maria Mathe 2022-10-13

You assumably interact with artificial intelligence on daily basis and don't even realize it. But with the help of machine learning, it allows the website owner to analyze and extract the patterns, stats, transmission and accounts hidden within this data. You can implement data science in machine-learning artificial intelligence into your business to:Enhance business processes More efficiently adjust to ever-changing market demand requirementsGain more significant knowledge of the prevailing business and customer requirements. Below are some unignorable things that a data science machine learning and artificial intelligence can do to your business:The mechanisation of processesThe smart and easy way to make decisionsCustomers experience an enriched level of assistanceThe progress of medical scienceA study of research and data investigationSolving difficult issues is necessary. Using data science in machine-learning artificial intelligence can enhance customer service and the chatbox can be used in recommendations system to increase income and maximize sales opportunities.