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The challenge of data quality in oil and gas operations

Published by
World Pipelines,


Meridium(R), Inc.,the global leader in asset performance management (APM) software and services, has previewed its latest version of Meridium Enterprise APM Version 4.2. The latest offering combines machine learning, lifecycle costing, extended integration options and advanced mobile capabilities to help industrial organisations develop intelligent asset strategies and enhance reliability in any environment.

“Through long-term customer collaboration and investment in R&D, Meridium has undergone years of innovation and continues to bring the latest technological developments to our APM offering,” said Eddie Amos, CTO of Meridium. “Our newest version incorporates advanced data science algorithms which have been trained against the Asset Answers Industry wide failure database, providing unique insights into failure patterns. We are excited to preview this technology at the Meridium Conference 2016 and it will ship in early 3Q16.”

Meridium’s Enterprise APM helps companies connect their disparate plant systems and use the data to develop actionable, strategic plans to predict and prevent failures. Now Meridium customers will benefit from the next wave of advancements brought about by increased connectivity, cognitive analytics and accessibility for business analysts to mine data and draw critical operational insights.

New enhancements in Meridium APM Version 4.2 include:

  • Cognitive analytics: data quality and the information organisations have collected over the years in their transactional systems, spreadsheets or with paper inputs poses a major organisational challenge today. With Cognitive Analytics, Meridium’s machine learning framework and Asset Answers trained models, customers can organise, qualify and mine their data to identify failure patterns that have been missed through traditional analytical routines.
  • Lifecycle costing analysis: available on premise and in the cloud, Meridium’s lifecycle costing functionality will help customers accurately determine the complete life cycle plan of their assets from acquisition to retirement. This insight provides analysts and accountants alike with a complete, upfront understanding of the costs associated with owning and operating assets at an expected performance level. By leveraging these capabilities, Meridium customers are able to make smarter vendor and service contract selection, as well as overhaul and maintenance strategy decisions, which are optimised from a complete life cycle perspective.
  • Asset strategy library: Meridium’s asset strategy library is now available as a standard and embedded capability to the Meridium asset strategy management solution. The library includes predefined strategies for over 650 equipment types that organisations can easily leverage to accelerate the development of intelligent asset strategies.
  • Mobility for field inspections: Meridium is now extending mobile, offline data collection capabilities for field inspectors and instrument technicians working in Meridium integrity solutions. Regardless of device or location, field workers can now document their findings at the point of inspection leveraging API-based inspection and safety system proof test applications, which ensure accurate, timely assessments of compliance activities and emerging threats.
  • GE Analytics: GE Analytics provides both GE System 1 and GE Predix SmartSignal connectors with out-of-the-box analytics to deliver value quickly. Operators can easily configure these systems to meet customer needs with integration into Meridium health manager and policy designer, combining machine-to-machine alerts with other asset performance data.
  • Data visualisation: Meridium Enterprise APM now provides advanced data visualisation that allows customers to view their assets using geospatial information.
  • APM Connect cloud edition: Meridium brings the power of APM Connect to the cloud providing customers with SAP connectivity for customers leveraging Meridium’s SaaS offering, APM Now.

Edited from source by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/business-news/12052016/the-challenge-of-data-quality-in-oil-and-gas-operations/


 

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