BI Insights

Production Forecasting, Predictive Analytics, And Today’s Oilfield

13 June, 2016

Production Forecasting, Predictive Analytics, And Today’s Oilfield

Harnessing the power of Big Data is without a doubt the biggest driver of business success today. For different companies and in different industries the incentives and motivations are as varied as weather.

For the “excess capacity” ridesharing companies Uber and Lyft, for example, we as consumers see how good they are at locating a quick and inexpensive solution to our problem of needing to be somewhere else quickly. They mine the same data and see how much it is worth to their bottom line to prevent subjecting their “workforce” to local regulations. And with access to our individual travel patterns – down to the second from their mobile app – who knows what hidden forces they will soon uncover and start to further monetize.

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