Real Time Decision Making – Incorporating Dynamic Risk Management
September 6, 2016
Evaluation EULA
September 22, 2016

Dallas, TX, September 20, 2016 –(PR.com)– Dallas based technology and advisory firm, Lone Star Analysis presented a compelling paper at the SPE Intelligent Energy Conference in Aberdeen Scotland on the impact of blending human decision with real time data in the Macondo Deepwater disaster. Three senior Lone Star authors delivered the dramatic paper on September 6th, 2016.

The paper examined what might have happened if the Internet of Things connectivity, and Lone Star’s AnaltyicsOS™ had been integrated onto Deepwater Horizon. Starting with current oilfield risk management methods, Director Drew Hartigan described a real time dynamic risk management system with predictive features.

Lone Star’s AnalyticsOS™ (AOS) is an advanced real time predictive and prescriptive analytics suite of tools. It enables deployment of true cause and effect based operational models at the point of need. AOS applications can operate at the network edge or any other location within the enterprise and with or without a human supervisor, tirelessly solving analytics challenges. AOS uses up to date data from IoT, or any other sensor data stream. This cutting edge technology applies to a wide range of topics, which includes predictive and prescriptive maintenance.

“There is no need for risks to be based on old, subjective assessments,” said Hartigan. “We have the technology today to manage risk dynamically, like any other industrial problem in maintenance, logistics, or operations. AnalyticsOS™ and IoT make it easy to do what used to be impossible.”

The original paper will be available from the SPE at www.SPE.org. Lone Star is offering a free presentation related to this topic which can be found at http://www.lone-star.com/insights?iID=31. The presentation covers dynamic risk management, and make the connection with real time problems in operations management, maintenance and other industrial processes. A video of the risk modeling simulation of the Deepwater Horizon disaster is also available to be viewed at https://www.youtube.com/watch?v=LVqEtLez60s.

About Lone Star:
Lone Star provides powerful solutions that improve operations. We serve industrial markets, aerospace & defense, oil & gas, transportation & logistics, and the public sector. From our exclusive analytics products and technology-enabled services, no firm is more qualified to deliver the right answer for your operational needs. Our reputation is built on creating lasting value for our clients. We are committed to generating improved operational and financial performance through accurate and actionable answers to our client’s most critical business challenges. Headquartered in Dallas, Texas, Lone Star is found on the web at www.Lone-Star.com