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 Analysis

Lone Star Analysis enables customers to make insightful decisions faster than their competitors.  We are a predictive guide bridging the gap between data and action.  Prescient insights support confident decisions for customers in Oil & Gas, Transportation & Logistics, Industrial Products & Services, Aerospace & Defense, and the Public Sector.

Lone Star delivers fast time to value supporting customers planning and on-going management needs.  Utilizing our TruNavigator® software platform, Lone Star brings proven modeling tools and analysis that improve customers top line, by winning more business, and improve the bottom line, by quickly enabling operational efficiency, cost reduction, and performance improvement. Our trusted AnalyticsOSSM software solutions support our customers’ real-time predictive analytics needs when continuous operational performance optimization, cost minimization, safety improvement, and risk reduction are important.

Headquartered in Dallas, Texas, Lone Star is found on the web at http://www.Lone-Star.com