Content deleted Content added
Rescuing 2 sources and tagging 0 as dead. #IABot (v1.6.5) |
|||
Line 24:
==Applications in Oil and Gas==
[[File:Key Questions Prescriptive Analytics software answers for oil and gas producers.png|thumb|right|450px|Key Questions Prescriptive Analytics software answers for oil and gas producers]]Energy is the largest industry in the world ($6 trillion in size). The processes and decisions related to oil and natural gas exploration, development and production generate large amounts of data. Many types of captured data are used to create models and images of the Earth’s structure and layers 5,000 - 35,000 feet below the surface and to describe activities around the wells themselves, such as depositional characteristics, machinery performance, oil flow rates, reservoir temperatures and pressures.<ref>{{cite journal|last= Basu, Atanu|title= How Prescriptive Analytics Can Reshape Fracking in Oil and Gas Fields|journal= Data-Informed|date=November 2012}}</ref> Prescriptive analytics software can help with both locating and producing hydrocarbons<ref>{{cite journal|last= Basu, Atanu |title= How Data Analytics Can Help Frackers Find Oil |journal= Datanami|date=December 2013}}</ref> by taking in seismic data, well log data, production data, and other related data sets to prescribe specific recipes for how and where to drill, complete, and produce wells in order to optimize recovery, minimize cost, and reduce environmental footprint.<ref>{{cite journal|last= Mohan, Daniel |title= Machines Prescribing Recipes from 'Things,' Earth, and People |journal =Oil & Gas Investor|date=August 2014}}</ref>
===Unconventional Resource Development===
| |||