How Prescriptive Analytics Shapes Business Transformation and Supply Chain Social Responsibility

Growing up in a small oilfield town, we didn’t have a McDonald’s; we had Joy’s Grill. Joy, the owner, and his wife, Wanda, ran a straightforward automated operation in their diner with one row of booths and a counter open to the grill. She took the orders and yelled out “mash one,” which queued Joy to throw another patty on the grill. He finished the order, Wanda served, and whoever had a free hand, rang up the checks at the register.

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Why Simulation is a Must for Optimization-based Scenario Planning

In the age of Big Data, corporate leaders have more power at their disposal than ever before. Meanwhile, globalization has increased the number and quality of competitors fighting for the same customers. There is enormous pressure on planners to achieve economical, efficient strategies that increase return on investment with as little risk as possible. In the past, intuition was a planners’ tool of choice, but most today are tech savvy enough to have moved onto better techniques. With the sheer number of variables to consider, there are not enough hours in the day to cope with the resultant information overload.

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TBM Consulting Addresses “What If?” Questions that Reveal Multi-Million Dollar Opportunity

Blinders off. Analytics model helps leaders of a construction materials manufacturer see how they can make more money.

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New Ventana Research on Supply Chain Planning and Prescriptive Analytics

River Logic recently sponsored a new piece of Ventana Research entitled "Supply Chain Planning with Prescriptive Analytics: Technology Enables a More Effective Process."

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5 Reasons Over Half of Data Science Projects Never Leave the Lab

Remember dissecting a frog in middle school? The point of the project was to learn about the internal workings of the amphibian’s organs and get a better picture of ecology as a whole. However, the smell of formaldehyde often made it difficult to think about the purpose. Instead, the tendency was to finish the task at hand — one that usually involved a knife-happy partner paired with a squeamish one who documented results with eyes half-shut.

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Oil and Gas Refinery Challenges: People, Product, and Placement

The revival of a strong economic foundation, increase in global demand, and boom of U.S. shale production shine a bright forecast for oil and gas refineries, numbering about 700 worldwide. About 20% of these operate in the U.S. and have emerged as one of the financially healthier players in the oil and gas ecosystem.
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How Prescriptive Analytics Reshapes Fracking in Oil and Gas Fields

Shale oil promises to put the United States back in the lead as an energy superpower. However, while shale oil is abundant, it can be difficult to locate and extract. This is why horizontal drilling and hydraulic fracturing, commonly referred to as fracking, have become common practice. Unfortunately, fracking is incredibly inefficient, as well as harmful to the environment.

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How Prescriptive Analytics Will Reshape Your Refinery Capital Expenditure

As in any industry, in oil and gas production the objective is to maximize production while minimizing overhead. Unlike many other industries, however, oil and gas refineries represent a substantial outlay of capital, so optimizing capital expenditure is critical for maximum return on investment (ROI) and return on assets (ROA).

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Four Best Practices for Tapping the Potential of Prescriptive Analytics

In a world of increasingly complex decisions, competitive growth and unexpected challenges, it’s not surprising that investments in big data, advanced analytics and business intelligence are at an all-time high.
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4 Ways to Maximize Arbitrage Opportunities Using Prescriptive Analytics

Day traders, hedge fund managers, commodity brokers, and energy traders routinely take advantage of market price differences to turn immediate profits. Maximizing an arbitrage opportunity requires precise timing and confidence in your market data, otherwise what looks to be a sure profit could turn into a net loss. That’s why more financial, energy, and commodity traders are relying on prescriptive analytics to ensure their arbitrage profits.

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Supply Chain Brief