CGG has spun-out the machine learning-based upstream data QC technology unveiled at last years’ ECIM conference (OITJ 2015 N°8) into startup, Agile Data Decisions. AgileDD is to further develop and commercialize the iQC ‘big data’ application for upstream database population. Under the hood is a combination of MapReduce, decision trees, latent semantic analysis and clustering. The technology is delivered via a service model with customers ‘only paying for the extracted information.’ The system works across structured and unstructured information and provides an audit trail of data provenance.
CGG is to be AgileDD’s first customer and reseller. The startup is also looking for new investors with an initial $0.5 million target. A Safe* mechanism is offered to early investors whereby they receive a bonus upon shares creation.
As the Financial Times revealed, ex-Schlumberger CEO Andrew Gould is backing another oil country big data-cum-machine learning startup Kayrros. The company is to offer ‘disruptive analytics for energy markets’ promising ‘unseen transparency’ (sic) to traders. Kayrros blends satellite imagery, social news with large scale financial and technical data. Kayrros’ has assembled an illustrious team for whom its $1.2 million seed funding must be chump change!
* Simple agreement for equity.
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