Over the last year we have been talking with some of the largest oil and gas companies in the U.S. about using Prescriptive Analytics with Hybrid Data to help improve exploration and production. Many are starting to “dip their toes” into the technology. One of the things they’re recognizing is the need to factor multiple types of data that the exploration and production processes generate, including:
Images from well logs, mud logs and seismic reports
Videos from down-hole cameras of fluid flow from hydraulic fractures
Sounds from fracking collected by fiber optic sensors
Text from drillers’ and frac pumpers’ notes
Numbers from production data, artificial lifts
Atanu BasuSix Ways Prescriptive Analytics Can Improve Energy Exploration and Production
Apache Corp. is one of the world’s top independent oil and gas exploration and production companies with more than $60 billion in assets and operations in the U.S., Canada, United Kingdom, Australia, Egypt and Argentina. Apache uses thousands of Electrical Submersible Pumps (ESPs) to pull oil from reservoirs worldwide, onshore and offshore. Many ESPs fail unpredictably resulting in missed production targets. Large oil and gas companies lose tens of thousands of barrels of oil daily due to ESP failures. Foresight into the performance of ESPs is critical to preventing unscheduled downtime or performance degradation that can impact oil and gas production. Even a modest increase in ESP performance can amount to significant gains in production and revenue.
Big Data—information sets too large to be effectively computed on desktop systems—isn’t just the buzzword du jour. It provides an unprecedented ability for business and industry to precisely model the effects of past managerial decisions on the bottom line. But an emerging analytical process called prescriptive analytics could help companies not only learn from previous decisions, but predict and plan for upcoming issues as well. It’s Big Data evolved, and could change how the world does business.
Andrew TarantolaHow Prescriptive Analytics Could Harness Big Data to See the Future
AYATA CELEBRATES 10 YEARS OF BIG DATA SOFTWARE, HELPING CUSTOMERS SEE AND SHAPE THE FUTURE WITH PRESCRIPTIVE ANALYTICS
AUSTIN, Texas – May 28, 2013 – Ayata, the inventor of prescriptive analytics software for big data, is celebrating its 10-year anniversary. Ayata started as a research laboratory for developing the third and final stage of big data analytics – prescriptive analytics. Since then, the company’s prescriptive analytics software has been used by major high-tech and energy customers such as Cisco, Microsoft, Dell, and Apache Corporation to manage sales, improve customer service, launch new products, streamline parts logistics and increase oil production.
Atanu BasuAyata Celebrates Ten Years of Big Data Software