bp's energy trading digital transformation on AWS (ENU308)
BP's Digital Transformation Journey on AWS
Overview
BP is one of the world's leading commodity trading houses, with operations in 140 offices across the globe.
BP's digital transformation journey on AWS started in 2016 when they decided to exit their on-premises data centers.
The journey involved three key phases: migration, optimization, and innovation.
Migration Phase
BP migrated their legacy applications, including a critical Energy Trading and Risk Management (ETRM) system, to AWS.
Key benefits of the migration:
Faster delivery speed for new infrastructure and environments.
Improved resiliency and disaster recovery capabilities.
Cost savings through better visibility and management of cloud costs.
Optimization Phase
After the migration, BP focused on optimizing their applications running on AWS.
Examples:
Modernizing their position management system by building a cloud-native solution using Amazon MSK, Amazon Aurora, and Amazon QuickSight.
Redesigning their market risk engine using Amazon EMR Serverless to improve performance and reduce licensing costs.
Innovation Phase
BP has started building cloud-native applications and leveraging AWS services to drive innovation.
Examples:
Global Integrated Pricing Program: A pricing platform that uses AWS serverless services, Amazon API Gateway, and Amazon ElastiCache to provide real-time pricing for BP's retail sites.
Data Hub and ML Ops Platform: A centralized data lake and ML platform that enables data-driven pricing strategies and a generative AI-based pricing analyst assistant.
Key Takeaways
BP's journey demonstrates how enterprises can leverage the cloud to achieve:
Faster time-to-market and delivery speed.
Improved resiliency and cost optimization.
Ability to build innovative solutions using AWS native services.
BP's partnership with AWS has been instrumental in their digital transformation, from migration to optimization and innovation.
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