Typically, energy and mining companies rely on a simple and straightforward formula that consists of a small dataset. Generally this formula can only incorporate a few variables to predict the productivity of each prospective oil well. This approach, while effective, can be refined and improved via Corrective AI. For instance, adding machine learning predictions to this formula can save companies millions by providing more accurate predictions of a given oil well’s productivity.
To take advantage of all the possible factors available to assist Oil and gas companies with their predictions, we can offer a set of pre-engineered input features that incorporates hundreds of thousands of variables. This increased data set will enable far more accurate predictions of oil well productivity.
To inquire about starting a Proof of Concept with PredictNow.ai or if you have any questions, please fill out the contact form below and we’ll get back to you as soon as possible.