When using data science, labeling events that occur in the field within the system is critical. With accurate labels and comprehensive well data, the raw materials are then available to train AI/ML models. But these raw materials need to be used the right way to create models that are comprehensive enough to handle the dynamic environment and accurate enough to impact performance. The industry has tremendous operators and engineers that understand how to get the most out of their oil fields, but they are busy in the field and lack the understanding of the latest algorithms and approaches to machine learning. Enter data science.
Data science defines the processes, skills, and tools that turn large amounts of data into AI/ML models performing complex and repetitive analysis that can quickly reveal problems and opportunities. Data science enables the automation of tedious and time-consuming analytic processes freeing up operators and engineers to troubleshooting problems and take action.
Data science understands how to train the models, which algorithms to use, which parameters to adjust, how to validate performance, what systems need to scale and so many other esoteric decisions that have to be made. While the algorithms used in data science are not necessarily new, the tools and methods of applying large scale computing and storage resources (e.g. AWS, Azure) to real-time data streams are advancing at an exponential pace. Data scientists are charged with introducing and supporting AI for the rest of the organization, but they need a great deal of help.
Learn more about how we use data science by viewing our solution demos. We have two demos. The first one demonstrates our Production Unified Monitoring solution. Production Unified Monitoring ingests well data from any source, empowering you to achieve full-field Well Management in one place without proprietary hardware. With configurable dashboards, lift-specific visualizations, centralized file storage, and collaboration tools, Production Unified Monitoring is the only tool your operators will need to improve field management.
The second demo provides a more in-depth look at our Production Analytics solution which includes the benefits of Production Unified Monitoring. Developed by our team of leading petroleum experts and data scientists, production analytics provides automated well optimization and event diagnostics with leading indicators for major artificial lift types.
Access either of OspreyData’s Production Intelligence demos here. The demos are online videos that you can watch at your convenience.