Predictive Insights Are Advancing the Oil Industry
“Data-driven decision making and predictive capabilities will be essential across the life cycle of our unconventional assets-from delineation and appraisal through full field development” – Bruce McCullough, CIO at Marathon Oil
Being able to think and act differently than the competition is the goal in every business, and the oil industry is no different. Understanding what is happening below the surface has been the focus for oil companies over the years and adding digital technology into the equation allows these companies to creatively leverage their large data sets to gain deep insights into the business. Looking at the data through an analytical lens allows businesses in the industry to rely on predictive insights to answer questions like, “Where is the best place to drill? How far apart should the well walls be? And, what will be the ultimate recovery for the well?”