Analytics Magazine Analytics Magazine, March/April 2014 | Page 41

smaller bites – for example, focusing on just one data type across a small to medium-sized geographic area. The approach will depend on what challenges the company is trying to address. If offshore seismic data is a key problem, the company might focus first on analytics that allow it to monitor the data coming back from the seismic vessel in real time. That will allow it to identify poor-quality data immediately and have the operator correct it under its current contract, rather than waiting weeks to INFORMS CONFERENCE ON USINESS ANALYTICS & PERATIONS RESEARCH Applying Science to the Art of Business discover the problem and having to engage the contractor again under a new contract. If the company’s main challenges involve development drilling, analytics tools can help determine the optimal number and spacing of wells to optimize yield and production costs. Similarly, predictive and prescriptive analytics tools can help an E&P company maximize the value of a well field’s lifetime production. Such tools also can help to minimize the cost of replacing submersible pumps 5th Annual Executive Forum Nominate Your Executives to Attend Join executives from Boeing, IBM, Intel, Chevron, Nielsen, IRS, Ford, Schneider, Target, Land O’Lakes, UPS, Bank of America, HP, Verizon, Jeppesen,Verizon Wireless, and more! This special program for senior executives provides decision makers with a bottom-line understanding of how business analytics & O.R. are used to drive better organizational decisions. • special networking reception hosted by the INFORMS Board of Directors, • selected • Tom Thank You to Sponsor executive-level talks, Davenport keynote address, • executive seating at Gala awards ceremony. Submit your application to meetings.informs.org/analytics2014/execforum.html A NA L Y T I C S March 30-April 1, 2014 The Westin Boston Waterfront Boston, MA M A R C H / A P R I L 2 014 | 41