Artificial Intelligence in Gas & Oil - use casesRead post
Energy companies use Machine Learning to increase their bottom lines through gaining competitive advantages, reducing expenses and improving efficiency. They optimize all areas of their businesses, starting from risk analysis and marketing to optimization of finding new oil and gas sources, to make data-driven decisions that lead to increased profitability.
1) DIRECT MARKETING
To be successful as an energy company, the key is to maximize ROI. You can do this with boosting marketing response rates and minimizing misdirected communication. Current state-of-the-art algorithms give the best results, but they also require specific, deep domain (subject-matter) expertise in Machine Learning.
Marketing to prospects is expensive and is going to be more difficult with the GDPR regulations. There is no point in using default schemas for direct emails and telemarketing, as it is not going to help you target your customer base. Incorrect targeting hurts your brand and makes your prospects feel like they are being spammed, resulting in low response rates that lead to a high cost-per-lead.
Our cutting edge algorithms included in the Data-Driven Sales Optimization System can deliver data about which people are most likely going to purchase your product or service to yield higher ROI. To achieve your goals, maintain a favorable image of your company with targeted communication to save time and money.
Our Machine Learning systems will make your marketing campaigns more effective. You don't have to be an AI expert - that’s our job.
2) FINDING NEW OIL AND GAS SOURCES
All the top companies from the Gas & Oil industries search for potential new oil and gas fields - even underwater and underground. Due to the high costs of drilling exploratory wells, you need to predict the locations that will produce the most profit with the lowest costs.
The Gas & Oil industries need to have a complete view on available assets and pricings. Due to the current prices of oil & gas, companies within this sector need to identify the most profitable wells to allocate their assets appropriately and deliver shareholder value.
A solution for the optimization of production of the most crude oil and raw natural gas at the most efficient cost. Our cutting edge algorithms included in the Data-Driven Sales Optimization System, Pattern Finder and Information Extraction System deliver accurate, predicted values about most valuable assets for further exploration. We utilize past and current information about oil prices and drilling parameters and incorporate the predictive models into a real-time application to allow your business to scale up and earn more money with a production of oil and gas, effectively minimizing risk and cost at the same time.
Our systems make your predictions of locations fast and effective. Focus on the things you solely need to do. You don't have to be an AI expert - that’s our job.
Friday, 1 June 2018