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Business Improvement Group:

Numerical Modelling

 

"We pay a price for all the information we consume these days - and it's knowing less"


The volumes of data collected in the oil and gas industry to 'help' decision makers is titanic. Our experience is that unfortunately the assistance given to decision makers in disseminating and interpreting this mass of information can at times be paltry. Our experienced team have developed a style of working with clients and a set of in-house processes that helps tackle a variety of challenges by identifying the key indices to evaluate a problem and come to a conclusion. Numeric modelling has been applied to spares availability and shutdown planning as well.

 

Numeric modelling process:

  • Problem Framing - meet with client or workshop to discuss problem
  • Mathematical Formulation – adopt standard formulae and devise bespoke formulae
  • Input Data Collection – through workshops with client or offline
  • Analysis – data pre-processing, Monte Carlo assessment, checking
  • Reporting – sophisticated interpretations of the results for decision-makers.
  • Clear and concise reporting.