Do you know how your company's data is being used? In the new age of technology, it is more important than ever to understand what data means to your business. Data has been shown to impact organizational strategy and performance significantly, but not many organizations are taking advantage of all that it can offer due to a host of different reasons: outdated data infrastructure, incompatible systems, restricted data access, poor system integration, etc.. Extract, Transform, and Loading (ETL) and operational analytics are integral to the success of any business. They help to make sense out of all the data your company has and collects in day-to-day operations.
How Does PetroVisor Help in Operational Analytics?
When it comes to operational analytics, the PetroVisor platform may be quite useful. In other words, it captures previously unavailable data. It then prepares the previously acquired data for analytics applications such as predictive modeling, forecasting, and machine learning. This is faster and less expensive than working through a company's existing IT stack or hiring an outside provider.
A North American operator that acquired 10,000+ wells as part of an acquisition found this to be very valuable. They were able to rapidly develop production forecast models and identify and select top-performing well candidates for reactivation / workover by using PetroVisor on their own operational database.
Basically, PetroVisor is beneficial in offering faster data analysis and insight into what's going on in the company. It gives the ability to use machine learning models without worrying about how the data was stored beforehand since you have more control over where it actually is. This also helps companies work more quickly and cost-effectively, since they don't have to wait for data engineers.