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(local digital oilfield heroes) Get Smarter; Build an Analytics Laboratory
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Bas Hendriksen
Tessella
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Talk Description
With the explosion in the use of intelligent, connected devices and with technology increasingly providing cost effective data collection and storage; data volumes are now growing exponentially. This trend can be seen in all industry sectors, with the escalation driven by the common promise of being able to understand key behaviours better than the competition. The data may relate to the shopping habits of retail customers, the propensity of a reservoir to relinquish its oil or of a fleet of trains to stay healthy. The objective is the same; use big data to better understand your ‘asset’ and the market.
Benefit only comes from making better decisions and improved operations and these decisions need to be informed by unlocking insight from the data, however, clear examples of concrete benefit remain thin on the ground. All too often, the mechanics of managing the data volumes overwhelm any efforts to extract insight and align it to business need and the cost of managing the data is rising unchecked.
The Analytics Laboratory approach overcomes these shortcoming by focusing first on the decisions that need to be made, and second, on the analytics that is required to extract insight to inform those decisions.
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