Harness Oil and Gas Big Data with Analytics Quotes

“One of the most critical design and architecture decisions adopters of advanced analytics must make is whether to store analytic data in a data warehouse or in a standalone analytic database. Where does the data go? Where is it managed? Where are we going to do our analytical processes? Philip Russom, Senior Manager, TDWI Research”
― Keith Holdaway, Harness Oil and Gas Big Data with Analytics: Optimize Exploration and Production with Data-Driven Models

“The three tenets of upstream data are: Data management Quantification of uncertainty Risk assessment”
― Keith Holdaway, Harness Oil and Gas Big Data with Analytics: Optimize Exploration and Production with Data-Driven Models

“There are four main predictive modeling techniques detailed in this book as important upstream O&G data-driven analytic methodologies: Decision trees Regression Linear regression Logistic regression Neural networks Artificial neural networks Self-organizing maps (SOMs) K-means clustering”
― Keith Holdaway, Harness Oil and Gas Big Data with Analytics: Optimize Exploration and Production with Data-Driven Models

“There are two distinct branches of data mining, predictive and descriptive/exploratory (Figure 1.2), that can turn raw data into actionable knowledge. Sometimes you hear these two categories called directed (predictive) and undirected (descriptive). Predictive models use known results to develop (or train or estimate) a model that can be used to predict values for different data. Descriptive models describe patterns in existing data that may be found in new data. With descriptive models, there is no target variable for which you are striving to predict the value. Most of the big payoff has been in predictive modeling when the models are operationalized in a real-world setting.”
― Keith Holdaway, Harness Oil and Gas Big Data with Analytics: Optimize Exploration and Production with Data-Driven Models

“Exploratory wells located invariably by a set of deterministic seismic interpretations are drilled into reservoirs under uncertainty that is invariably poorly quantified, the geologic models yawning to be optimized by a mindset that is educated in a data-driven methodology.”
― Keith Holdaway, Harness Oil and Gas Big Data with Analytics: Optimize Exploration and Production with Data-Driven Models