How data science is changing the energy industry
Recent declines in oil prices have hit the world economy hard. Alberta, Canada’s major oil region, has witness increased unemployment due to declining commodity prices. In January 2016, Saudi Arabia increased the price of gasoline for its citizens by 50 percent given the situation. With major fluctuations in prices and the high cost of energy projects, quality information has never mattered more.MORE ON NETWORK WORLD: 15 big data and analytics companies to watch The energy industry uses data science to cut costs, optimize investments and reduce risk. Reducing costs with data science is a popular application in the industry: much work has focused on improving maintenance and equipment monitoring. Optimizing investment decisions takes several forms including better internal resource allocation and assisting investors. Data science also contributes to improving public safety by providing better monitoring and oversight.To read this article in full or to leave a comment, please click here
Neutron has merely gotten a bad rap, OpenStack officials say.