Speaking at the SMi Data and Information Management conference in London this month (full report in next month’s Oil IT Journal), Hampton Data MD Wally Jakubowicz offered a ‘magic formula,’ relating decision quality to parameters including data quality, expertise, data volumes, available time frame and financial resources. The formula was used to develop a taxonomy of decision types from data-driven to ‘gut feeling’ based. Current data quality approaches fail to capture either the expertise of the decision maker or what data was used. Modern technology can help here, as user profiles and actions can be captured and extend a data object.
A one day workshop followed up on Jakubowicz’ presentation, investigating how the human/data interaction could be captured and augmented with relationships and time stamps. The idea is to propose a new open industry standard for metadata relevance, knowledge and data quality. Feedback from the workshop (participants included Aramco, Total, KOC, Dong, Vale and Schlumberger) was positive. Jakubowicz told Oil IT Journal, ‘Getting real metrics seems to be the elusive holy grail that many are looking for.’ The plan now is to initiate an E&P Metrics Interest Group, possibly under the auspices of the UK’s PILOT program. More from hamptondata.co.uk.
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