Predicting Best Oil Drill Locations with Data Exploration Portal
Blog: The Tibco Blog
Reading Time: 2 minutes
It’s very common for companies today to drown in data lakes of their own making. With outdated methods to manage and analyze data, it makes it hard to keep up with the competition. One of the largest Dutch natural gas producers, Wintershall Noordzee, faced this very problem. As a mid-sized operation, it needed a way to predict the best location to drill for oil and gas while competing with larger companies in the same industry.
Wintershall Noordzee needed a solution that could bring all of its disparate data sources together in a central data exploration portal and make it more searchable, flexible, and dynamic, so geologists could more easily and quickly analyze dozens of variables. The company partnered with TIBCO to build Crossfire, a fully-functional data platform that its employees and other stakeholders could easily access and explore.
Before TIBCO, the company would have to consult five different tools to get the desired information from its data. Now, it only needs one to wrangle, manage, and analyze data. The self-service element of Crossfire helps users find the data they need themselves, working much faster while significantly reducing uncertainty. Users don’t have to wait hours to get an insight; it’s all available in a matter of minutes. This has been a huge time saver with much more transparency and access to new insights compared to previously.
What’s more, Crossfire helps the company develop new insights from data that it couldn’t access before TIBCO. Teams can now fill in crucial gaps to identify and predict well drilling faster and more accurately. Wintershall Noordzee is looking to analyze even more data with the help of machine learning and natural language processing to help to conceptualize automated document ingestion and a data enrichment platform.
What started as a couple of data tables has become a fully functional data platform with more data and better analyses and plots. Now, more time can be spent analyzing data rather than wrangling it. This has saved the company massive amounts of time and provided greater transparency and new insights. As a result, Wintershall Noordzee is empowered to turn the portal into a platform and use data virtualization to take its analytics journey to the next level.
Learn more about Wintershall Noordzee’s self-serve Crossfire data platform in the full case study.