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Application of Analytics in Oil Industry

Oil is the backbone of the worldwide economy. But the procedures to transform crude, raw petroleum into a refined item is costly. Application of analytics in the oil industry minimizes hazards and augment benefit. With analytical information, the refiner can better predict processing issues and actualize financially savvy moderation systems. With the recent advances in data and analytics, it is possible to minimize risk and maximize profit. There are several analytical tool which is helping the oil industry. They are: Unrefined fingerprinting - a diagnostic gadget measuring properties of the rough, coupled with refined predictive analytics. It offers quick reaction, on location analysis of unrefined oils and other hydrocarbon liquids. Crude fingerprinting - tests and recognizes unrefined crude before it goes into the refining process. 

For more read the article written by Tom Stanley

(Chief Technology Officer, distributed power and water GE Power): http://www.environmentalleader.com/2016/04/04/how-data-analytics-is-changing-the-oil-gas-industry/#ixzz45s52g6qt

 

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