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predictive analytics

Predictive Analytics Will Help Oil Companies Forecast The Future

Nastel Technologies®
January 4, 2019

In recent years predictive analytics has matured as a technology with practical applications for the oil and gas industry. The next stage in analytics development is the application of prescriptive capabilities.

 

“Big data analytics are no stranger to this industry, and companies have long understood the potential value that predictive capabilities can bring them,” McCollam adds. “Along with our clients and partners, we believe that the use of predictive analytics can lead not only to improved performance but also to enhanced safety and risk management.

There are differing opinions surrounding when and how such capabilities will manifest themselves in oil and gas operations. Many would argue that predictive analytics are already here with examples of machine learning. However, although heads of technology at many oil and gas firms are bullish about AI, most agree that it will not begin to be applied beyond niche applications for at least another three years.

 

For now, however, oil and gas companies have much to discover about the benefits predictive analytics can bring them. After all, 43 of the industry’s top 100 companies have yet to demonstrate publicly that they are integrating predictive tools into their operations.

 

This article originally appeared on Forbes.com.  To read the full article, click here.

Nastel Technologies is the global leader in Integration Infrastructure Management (i2M). It helps companies achieve flawless delivery of digital services powered by integration infrastructure by delivering tools for Middleware Management, Monitoring, Tracking, and Analytics to detect anomalies, accelerate decisions, and enable customers to constantly innovate, to answer business-centric questions, and provide actionable guidance for decision-makers. It is particularly focused on IBM MQ, Apache Kafka, Solace, TIBCO EMS, ACE/IIB and also supports RabbitMQ, ActiveMQ, Blockchain, IOT, DataPower, MFT, IBM Cloud Pak for Integration and many more.

 

The Nastel i2M Platform provides:

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