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Data-Centric Decisions Archives - Mark Reynolds

Tag: Data-Centric Decisions

 

Making new IT work for the business

I found an EXCELLENT article in the Digital Energy Journal by Dutch Holland. In this article he explore different strategies for transforming operational requirements into successful initiatives. Without stealing too much of his well articulated article, the five approaches normally used are: The by-the-book business analyst The business-experienced analyst” The businessman CIO The IT expert Inside the business The operations-led interface I encourage anyone attempting to implement a operations-centric technological solution to read his article. http://www.findingpetroleum.com/n/Making_new_IT_work_for_the_business/d1a1861b.aspx “When trying to connect technologyRead More …

Predictive Analytics

Predictive analytics is used in actuarial science, financial services, insurance, telecommunications, retail, travel, healthcare, pharmaceuticals and other fields (Wikipedia). But operations – manufacturing, processing, etc., have been a little slower to encompass the concept. A drilling engineer friend of mine says “just put my hand on the brake lever and I’ll drill that well”. He probably can, but few of the rest of us can, or want to. We want to see operating parameters, performance metrics, and process trends. AllRead More …

What is Content?

Several internet articles and blogs address the meaning of content from an internet perspective. From this perspective, content is the (meaningful) stuff on a page, the presentation of information to the seeker. But content within an operations-centric perspective is entirely different. And the databases and operational tools must be content data reflecting the desired information being sought in the pursuit of knowledge. Thus, paraphrasing Scottie Claiborne (http://www.successful-sites.com/articles/content-claiborne-content1.php), “content is the stuff in your operations system;  good content is useful information”.Read More …

The Value of Real-Time Data

Real-Time data is a challenge to any process-oriented operation. But the functionality of the data is difficult to describe in such a way that team members not well versed in data management. Toward that end, four distinct phases of data have been identified: Real-Time: streaming data visualized and considered – system responds Forensic: captured data archived, condensed – system learns Data Mining: consolidated data hashed and clustered – system understands Predictive Analytics: patterned data compared and matched – system anticipatesRead More …

The Big Crew Change

“The Big Crew Change” is an approaching event within the oil and gas industry when the mantle of leadership will move from the “calculators and memos” generation to the “connected and Skype” generation. In a blog 4 years ago, Rembrandt observes: “The retirement of the workforce in the industry is normally referred to as “the big crew change”. People in this sector normally retire at the age of 55. Since the average age of an employee working at a majorRead More …

Knowledge as an Asset

This is the information age. So we are deluged with information (and sometimes just data). Organizations are only now beginning to grasp the fundamental concept of Knowledge as an Asset. What constitutes the knowledge asset? “Unlike information, knowledge is less tangible and depends on human cognition and awareness. There are several types of knowledge – ‘knowing’ a fact is little different from ‘information’, but ‘knowing’ a skill, or ‘knowing’ that something might affect market conditions is something, that despite attemptsRead More …

The Data-Information Hierarcy, Part 2

Data, as has been established is the organic, elemental source quantities. Data, by itself, does not produce cognitive information and decision-making ability. But without it, the chain Data –> Information –> Knowledge –> Understanding –> Wisdom is broken before it starts. Data is recognized for its discrete characteristics. Information is the logic grouping and presentation of the data. Information, in a more general sense, is the structure and encoded explanation of phenomena. It answers the who, what, when, where questions (http://www.systems-thinking.org/dikw/dikw.htm)Read More …

The Digital Oilfield, Part 1

(originally posted on blogspot January 17, 2010) The oil business (or bidniz as the old-hands call it) has evolved in drilling, containment, control, and distribution. But the top-level system view has gone largely ignored. Certainly there are pockets of progress. And certainly there are several quality companies producing centralized data solutions. But even these solutions focus on the acquisition of the data while ignoring the reason for the data. “Simply put Digital Energy or Digital Oilfields are about focusing informationRead More …