Marketers know that the word free gets people’s attention. How many ads have you seen that has the word Free is large font and repeated all over the advertisement? How do you compete with free stuff when you have bills to pay and the competitor gives away a similar product for nothing? Here is an example of that challenge from the Internet Explorer lawsuit in 1998.
“The suit began on May 18, 1998, with the U.S. Department of Justice and the Attorneys General of twenty U.S. states (and the District of Columbia) suing Microsoft for illegally thwarting competition in order to protect and extend its software monopoly. In October 1998, the U.S. Department of Justice also sued Microsoft for violating a 1994 consent decree by forcing computer makers to include its Internet browser as a part of the installation of Windows software. Judge Thomas Penfield Jackson issued his findings of fact on November 5, 1999, which stated that Microsoft's dominance of the x86-based personal computer operating systems market constituted a monopoly... Read more >
Abstract: The goal of this work is providing details analysis on two unwanted gas treating methods to encourage a zero gas venting/flaring future in the Permian basin. The main concepts of each method will be discussed along with details of a suggested method and its challenges. The first step is conducting a brief study about the Permian basin. Reports on greenhouse gas emission in the area are showed to reflect the bad effects of unwanted gas venting/flaring practice. There are two main methods discussed: associated gas reinjection and underground gas storage... Read more >
Abstract: A new hybrid approach for developing Machine Learning (ML) workflows is proposed to automate algorithm selection and hyperparameter optimization. The proposed approach provides robust and unbiased workflow that can be validated using different scoring metrics. The most common workflows implemented in application of Artificial Intelligence (AI) and ML in engineering problems are compared with the new hybrid approach that includes the integration of Tree-based Pipeline Optimization Tool (TPOT) and Bayesian optimization. The performance of each workflow is quantified using different scoring metrics such as Pearson correlation and Mean Square Error... Read more >
The modern economy is driven by information, and data is now thought of as a commodity. Unlike physical assets such as petroleum products, minerals, or equipment, data assets are neither finite nor consumable (Henderson et al., 2017). Data assets are only valuable when they are used, consumed, and/or applied to business intelligence. The term "big data" refers to data that is so large in volume, variety, veracity, velocity, and value that it is too complex to manage with traditional relational databases (Mohammadpoor & Torabi, 2018). Upstream Oil and Gas data falls into the category of "big data" and must be managed as such.... Read more >
With the objectives of OSDU being to reduce data silos, provide workflows in the cloud, and improve access to all metadata, there remains the need to condition, manage and load data into systems while conforming to or aligning with data and IT standards (such as TOGAF®, DPBoK™, Agile, etc.) to enable integration into wider agnostic systems and portals, both from a data and technology standpoint. Yet the OSDU does not solve all of these challenges. Many of the same data management challenges persist... Read more >
We’ve all read articles extolling the limitless potential of artificial intelligence (AI) and its cousin, machine learning (ML). As an E&P data analyst, you may be nervous about the sluggish progress your AI/ML project team is making after having slid by multiple milestones. You are worried that management will lose patience and cancel what you see as... Read more >
Gone are the days when data organization used to be as minimal as simple rows and columns. All sorts of data types emerged since the internet invaded our lives and changed the technology industry, including the data management world. Proper data management today is more than just tables and rows grouped in a string format; more than just structured, or even semi-structured data stored in a relational database. Oil and gas companies need a dynamic way to store, manage, and maintain quality data for decision-making. Why? Well, today, oil wells are not the most important asset in the oil and gas industry; data is. Companies deal with a huge amount of data from different phases of the well's lifecycle such as exploration, drilling, and production and that data is increasing dramatically every day. The energy industry's problem today is that oil and gas companies cannot capture all the data they need to make better decisions faster.
Organizations need the ability to store and manage ALL data including unstructured. From that internet disruption, NoSQL (“Not only SQL”) appeared, and the threat to SQL’s existence... Read more >
The world’s 7.5 billion people need a vaccine for COVID-19 as soon as possible. Earlier this year it seemed that one or two pharmaceutical firms might be able to obtain some sort of approval by the end of the year. But now many large drug companies are pledging to uphold scientific and ethical standards in the search for an effective vaccine. Many experts are now telling us that it may be mid-2021 before the majority of us will have access to a safe vaccine.
There is a big trust issue behind all of this. Most modern countries have well established processes to ensure safety of products before they are released... Read more >