LONDON--(BUSINESS WIRE)--Quantzig, a premier analytics solutions provider, has announced the completion of its latest success story that illustrates how predictive analytics solutions helped an industrial gas manufacturer to increase manufacturing and recovery rates by 23%.
Industrial gas manufacturing companies are now adopting predictive analytics models to forecast production, and enhance business efficiency. Request a free proposal to know more about predictive analytics models used in the oil and gas industry.
Oil and gas companies generate large amounts of critical business data. Therefore, oil and gas companies must leverage analytics to gain actionable insights from this data and use these insights for the betterment of operations. Nurturing the ability to predict future scenarios and outcomes has been an aim for most of the industries, and oil and gas is not an exception. For the past two decades, oil and gas industry experts have been trying to derive the most accurate predictive analytics models to analyze the future of the energy supply chain, demand, and prices. Request a free demo to know more about the use cases of predictive analytics in the oil and gas industry.
“In recent years, predictive analytics has matured as a technology with practical applications for the oil and gas industry. The next stage in analytics development is the application of prescriptive capabilities,” says a predictive analytics expert from Quantzig.
Quantzig’s Predictive Analytics Engagement: Outcomes, insights, and solutions offered
This industrial gas manufacturing company’s operations mainly revolved around manufacturing, refining, and distribution of industrial gas, which often results in the generation of complex and huge datasets. With real-time data volumes increasing with every passing day, this oil and gas client was looking forward to using predictive analytics models to drive better results. To help this client mitigate the impacts of challenges, our predictive analytics experts adopted a three-phased approach that leveraged advanced predictive analytics models to visualize and analyze complex business data sets. The first phase focused on data aggregation and analysis of data, followed by the second phase that revolved around exploratory analysis and predictive data modeling. Apart from the results obtained by leveraging predictive analytics models, Quantzig’s experts helped this industrial gas manufacturer to deploy an enterprise-wide analytics operating model that aligned with their business objectives. The key business outcomes included-
- Increase in recovery rates by 23%
- Fewer incidents of product spillage and emissions
- Improvements in the quality of business operations
- Better risk management through data-driven decision-making
- Wonder how to enhance business operations by adhering to industry standards in the oil and gas industry? Get in touch with our predictive analytics experts today.
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 55 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
