Resolved: Optimization of Drilling Operations
Can someone explain to me the meaning of optimization of drilling operations, and Why is the optimization of drilling operations part of data science area but not business area? (the optimization is a problem related to oil and gas industry, so it's a business problem)
Thanks for reaching out.
Let me start by saying that it is all matter of interpretation. Of course, if drilling operations are related to an ongoing business activity, they could be moved to the left on our diagram. However, they can exist on their own and they are not necessarily related to business.
To do data analytics, all you need is data and math; business relation of the given problem is not required.
To do Optimization of Drilling Operations - why is not this just data analytics but is data science? Because the mathematical and statistical methods used in there are typical for what we call "Data Science" today. The mathematical and statistical methods used in Data Analytics, instead, could be, in theory, different. And they are indeed more.
Hope this helps.
I hope you are doing well. Thank you for your answer.
Please give us an example of when the business can affect "Optimization of Drilling Operations."
I am considering an example where the business prohibits drilling near historical locations.
Will this be a correct example?