Weitere Kapitel dieses Buchs durch Wischen aufrufen
The realization that much value can be extracted from the data that is routinely collected (and much of it is left unused).
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Occam's razor is a problem-solving principle devised by William of Ockham (c. 1287–1347). The principle states that among competing hypotheses, the one with the fewest assumptions should be selected. In the absence of certainty, the fewer assumptions that are made, the better.
This is a proprietary algorithm developed by Intelligent Solutions, Inc. and used in their Data-driven Modeling software application called IMprove™ ( www.IntelligentSolutionsInc.com).
An epoch of training is completed when all the data records in the training set have been passed through the neural network and the error between neural network output and the actual field measurements are calculated.
What constitutes a “good network”? A good network is a network that can be trained and calibrated and validated. It can learn well and has robust predictive capabilities. The rest is very problem dependent.
Author is not aware of any software applications for the training of the neural networks that provides means for addressing such issues. The software application that has been mentioned in one of the previous footnotes (IMprove™ by Intelligent Solutions, Inc.) is the only software application in the oil and gas industry that include means to detect and rectify such issues. This is due to identification and then addressing of the practical issues that can be encountered when data-driven models are built to address upstream exploration and production problems.
For decades, the term “Artificial Intelligence” was synonymous with rule-based expert systems due to some historical event dating back to early 1950s. This was the reason that until early 2000s scientists, professionals, and practitioners hesitated to use the term AI (Artificial Intelligence) to refer to their activities.
This is the price of oil on Saturday January 3, 2015.
Price of oil plunged by about 50 % during the last couple of months of 2014.
Use of these analysis in problems related to other industries, of course, is quite possible. In this analysis since we are working with wells, we chose to use the name “Well Quality Analysis”.
Later, it will be shown that then number of classes will be increased to four and then five.
That is everyone other than Intelligent Solutions, Inc. that has developed this algorithm for Well Quality Analysis.
- Shale Analytics
Shahab D. Mohaghegh
- Chapter 3