Barrel Up: Oilfield Digitization Comes of Age

A company making a widget that sells for $50 but in a matter of months gains demand, allowing the price to be bumped up to $70, would sound like a great thing. Right?

If only it were that simple in the Energy industry. The barrel price of Brent crude — the thermometer of industry health — has made a comeback that has many stakeholders more skeptical than elated. Why? Unlike other industries, Energy turns on an axis of its own as we covered earlier. However, what makes this time different is that the uptick, for most U.S. firms, comes from a position of offense as a leading exporter rather than playing defense because of foreign oil actions. The equation has changed. 

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Leveraging Prescriptive Analytics to Drive Digital Transformation in Oil & Gas

Over the last year, here at River Logic we have had the opportunity to make some pretty major waves in the Energy Industry — more specifically in the world Oil & Gas. Our internal knowledge of the space and the breadth of our solution delivery have both grown drastically. This is largely due to our relationship with our Energy partners, mentioned below. Given the nature of optimization-based prescriptive analytics, understanding how to apply this technology in a somewhat foreign industry can be a pretty big challenge. The truth is, optimization is complex — everything from understanding the best technology to use, to knowing what problems to tackle first, to ensuring your implementations will drive the fastest, and largest return.

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A Q&A Series on the Value of Prescriptive Analytics in Oil & Gas - Part III

This is a 3-part Q&A series with Chris McManaman, Director Commodity Trading and Risk Management, CGI Global

CGI has used enterprise-wide optimization for many use cases—what are the primary ones you’ve focused on? Why have you chosen to focus on those particular use cases?

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A Q&A Series on the Value of Prescriptive Analytics in Oil & Gas - Part II

This is a 3-part Q&A series with Chris McManaman, Director Commodity Trading and Risk Management, CGI Global

How would you describe Prescriptive Analytics’ impact potential in the Energy/Oil & Gas market, especially as compared to other forms of advanced analytics?

Prescriptive analytics enables you to leverage all your data analytics to produce better decisions more quickly. It pulls all the other advanced analytics domains together to create the analytics that people actually wanted in the first place. You can use the lessons in descriptive and diagnostic analytics to understand the constraints and correlations involved in making decisions. You can use predictive analytics to determine where you want to position yourself.

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Supply Chain Brief