Business Intelligence Tools / Data Science & Analytics

Recent Trends in Analytics – and Why I Joined Ruths.ai

In February I made a tough decision to step away from the most fulfilling and rewarding role I’d ever had – partnering with dozens of oil and gas companies that were passionately eager to “do more with Spotfire.”

Over the ensuing weeks, I must have fielded this series of questions countless times – “Why leave? Why now? Why Ruths?”

As it turned out, the answer to the last question was really the answer to all three.

Analytics Trends and Purpose-Built Solutions

I’ve actually known the folks at Ruths.ai for years, referring business several times when customers needed help developing advanced analytics workflows for oil and gas. The team is crazy talented, with tons of upstream domain expertise, and has built a great reputation for combining those skills into elegant software and successful project execution.

The evolution of Ruths.ai, particularly over the last 12-18 months, has coincided with a few key trends:

  • The analytics space is getting a ton of buzz as organizations are reshaping their strategy and operations to be “data-driven” – and good analytics tools (like Spotfire) enable those insights that are quick to discern and easy to operationalize.
  • However, the need to model and deploy these analytics (and ultimately derive true value) has been hamstrung by the inability to access, comingle, and interpret ALL the relevant data. This is detailed further in the chart below.
  • To help fill those gaps, there’s an ever-growing number of niche/siloed solutions that are adding complexity by only solving for a piece of the puzzle, leading to “death by apps”.

Industry analysts at Gartner have also noted these trends – and just as important, that there IS a way to overcome these challenges:

“Today, we are witnessing a paradigm change — a shift from the way we manage data and analytics. On the one hand, we have an abundance of data and information available to us, and on the other hand, we lack the culture and human capabilities to properly collect, analyze and manage data.” (Link)

“To improve analytics maturity, create integrated analytics platforms that extend your current infrastructure to include modern analytics technologies.” (Link)

Enter Petro.ai, the only platform-as-a-service purpose-built for petroleum analytics.

What’s Petro.ai?

Petro.ai abstracts all of the data complexity from end users – integrating dozens of disparate well-centric data sources (like LAS, Seg-Y, WITSML, frac van files, SCADA, and many more) so that engineers and geologists can get a holistic view of their asset – a reconstructed, digital reservoir.

With all this relevant information intelligently integrated in one place, asset teams can plan, execute, measure, and optimize their field development strategy. With in-built workflows and solution accelerators, Petro.ai enables these adjustments to be made in days/weeks instead of months/years.

Why I made the move

This is why I was so excited to join Ruths.ai – we’re enhancing both the lives of our customers and the business models of their respective organizations by facilitating a fundamental shift in how they operate. There’s nothing more fulfilling as a salesperson than to see your solution truly transform your customer’s business.

And the potential impact for those who acknowledge the need to learn and improve is massive. North American E&P capital spending will exceed $100 billion (yes, with a “B”) in 2019 alone, all while Wall Street is ratcheting pressure on shale operators to show improvement on free cash flow.

We’re changing the game for those who’ve already decided to join the revolution – come check us out at the next Petroleum Analytics Community Meetup and see what all the buzz is about!

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