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A Strategy for Moving from Reactive to Predictive Analytics

Monday, April 18, 2011

IHS CERA published an interesting article in November 2010 entitled “Toward the Predictive Organization.” The main focus of the piece was the premise that most oil and gas exploration and production (E&P) companies tend to be operating in a reactive manner, with ad hoc processes launched to handle events after they have occurred, as opposed to anticipating and hopefully mitigating the impact of particular events. E&P organizations have always had extensive instrumentation capabilities, but have these systems been utilized to predict and eliminate errant events? The article outlines some of the headline business benefits that can be achieved, details some of the organizational cultural challenges that need to be addressed, and helpfully illustrates them with real use cases. I don’t intend to regurgitate the article here; but as a companion piece to the original article, I do want to explore some of the essential data management prerequisites for predictive organizations.

Article sourced from www.b-eye-network.com, click here to read full story.

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