Digital Transformation of the Oil Refining Sector in Ukraine

Abstract

Digitalization methods have become the main method of business optimization in developed and developing countries. In the paper the digitalization process and its role in providing industry competitiveness under the conditions of technological changes in Ukraine oil refinery sector is investigated. The study is based on a comparative analysis of different components of the digitalization process and analysis of specialized sources of information. The results of study indicate that Internet technologies, such as Cloud services, Customer relationship management, different Application programming interfaces, Internet of Things lead are the main sources of business digitalization. For the Business to business sector, companies have to utilize them or eventually leave any competitive market. Technical progress is a part of the digitalization process as well. Companies need to be always online, organize internet call-centers that use Internet Protocol telephony systems to provide 24/7 support for customers. Another important part of digitalization is big data predictive analytics, it can help companies inspect, model and process different business-oriented conclusions. With the help of data visualization managers can easily present their ideas to stakeholders. These factors make the digitalization process crucial for any company that wants to operate worldwide effectively.