Premium Content

Access "Predictive analytics used to cut costs in oil sector"

Lindsay Clark, Contributor Published: 13 Oct 2012

In January, UK-based market research firm GlobalData estimated that capital expenditure in the oil and gas industry would increase by 13% during 2012 to reach $1.03 trillion globally (£650 billion at current exchange rates). As well as being a sign of the growing confidence about business conditions within the oil and gas sector, that level of spending demonstrates the scale of opportunity for using predictive analytics software to help extract maximum value from the high capital costs that mark out the industry. For more on industrial applications of predictive analytics Advice from Rick Sherman on SearchBusinessAnalytics.com on how retail, financial services and insurance pioneered predictive analytics Find out how predictive analytics empowers manufacturing industry on the Beye Network Read SearchCRM.com’s definition of predictive analytics Warren Wilson, the US-based leader of analyst firm Ovum’s energy and sustainability technology team, said avoiding unplanned downtime is the main driver for the adoption of predictive analytics by oil and gas companies... Access >>>

Access TechTarget
Premium Content for Free.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

What's Inside

Features

More Premium Content Accessible For Free

  • Cloud enabling the banking industry
    Cloud enabling the banking industry.jpg
    E-Handbook

    This report explores how the banking industry architecture network (Bian) service landscape may be used to define a comprehensive commercial ...

  • CW Buyer's Guide to Enterprise Collaboration
    CWE_BG_0514_collaboration.jpg
    E-Handbook

    In this 10-page buyer's guide, Computer Weekly highlights what the IT leader needs to know to decide on the future of the organisation's ...

  • Getting to grips with BYOD
    Getting to grips with BYOD.jpg
    E-Handbook

    BYOD is proliferating, but the smart move is to recognise that the device is ultimately far less important than the applications it runs and the data...