Dr. Michael O’Connell,
Chief Analytics Officer
Tibco
Dr. O’Connell opened the second day of the Summit with a presentation on using data in real-time to assist in decision-making.
“We believe that if you can compress the time between the business event, getting the data ready for the analysis, completing an analysis and taking an action, that this vastly increases the business value.”
Dr. O’Connell used examples from the world of Formula 1 racing, where data is fed constantly from the cars, and needs to be analysed and interpreted in order to inform race strategy decisions.
TIBCO, he said, is bring its data science, visual analysis and real-time streaming to bear on all the data as it arrives: he calls it “hyper-converged analytics.”
The same speed of analysis is critical to all levels of operations in the energy sector: from oil and gas exploration, where TIBCO software enables modelling the structure of reservoirs, to drilling, where analytics can constantly monitor the state of the drill bit and the composition of the surrounding rock, to production, where software can monitor and analyse the output of multiple producing wells.
The potential of TIBCO’s real-time analysis products extends to refinery operations, logistics and retail as well, and on into trading, Dr. O’Connell said.
Taking 2020 as an example, he demonstrated how a slowdown in Chinese energy imports together with increasing oil in floating storage generated opportunities captured by TIBCO software. With access to multiple trading environments, including dark pools, as well as AI-enabled analysis of news feeds, TIBCO is able to generate actionable analysis.
“The worlds of analytics, data science, data management, and operations are colliding and converging.”
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