Data Driven Models…The Tide of Opportunity


 

“There is a tide in the affairs of men which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life is bound in shallows and in miseries.”
William Shakespeare (Julius Caesar)

 
It’s hard to escape the chatter about “big data”. Evangelists talk of volume, velocity and variety of data across business verticals and the impact that big data will have on traditional analytics. Certainly, surfacing trends and identifying relationships and correlations in a multivariate, multivariant and multidimensional system provides food for thought. But does big data without business context provide any knowledge that enriches upstream decision-making?
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Let Your Data Do the Talking – A Three Part Series


Part 1. The Generation Y Opportunity
Part 2. Data Driven Models for the Real World
Part 3. What Next for Advanced Analytics?

Leveraging your data to take advantage of the big crew change

Introduction
One of the greatest challenges facing our industry today is managing the ‘Big Crew Change’. Anticipating the impending shortage of technically proficient personnel as they exit stage right, we are faced with not only an experience gap, but also a fundamental difference in the way that the next generation thinks. What cannot be quantified is the extent of the impact of this demographic shift. What type of changes in efficiency and performance might we anticipate if about 20 percent of the business has fewer than 5 years of pertinent experience?
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Big Data: Issues for the Oil and Gas Industry to Consider


Big Data Defined

“Big Data” is important to all industries. But what is it and why is it important to the oil and gas industry? Big Data can be defined using the three “v’s” — volume, velocity and variety. Volume is the “big” in “Big Data”. Unprecedented amounts of data are collected from a proliferation of PCs, tablets, mobile and phones. But that’s not all. Special purpose devices and sensors collect data. Data centers, satellites, cell phone towers, sensors on extraction equipment, and buoys in the ocean all collect and contribute to an unprecedented volume of data. [Read more...]

Technology Shapes the Next Phase of Oil and Gas Equipment


Advancements in exploration and production technologies have opened up opportunities for significant oil and gas production from vast regions of North America, but tapping into these domestic energy production opportunities will require safe, lean, and green operations. Large producers are playing a big role, as usual, but a growing number of smaller operators, taking advantage of technological advances, are emerging and playing a bigger part in this oil boom. These smaller operations need the same levels of engineering, automation, pollution controls and more, but at a different scale that calls for new methods of manufacturing and installation. [Read more...]