Oil & Gas Glossary

Predictive Modeling​

Confused by multitude of oil & gas data and analytics terms? Get easy-to-understand definitions in our glossary.

What is Predictive Modeling?

Using statistical techniques to predict future outcomes based on historical data. In oil and gas, predictive modeling could be used for tasks like forecasting production from a well or predicting equipment failures.
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Accurate forecast on parent-child developments

In this live webinar, you will learn how Novi’s new algorithm improves model sensitivity for spacing and parent-child scenarios, providing powerful results for previously difficult-to-analyze problems.

Ted Cross, our VP of Product Management, will show you how this update improves spacing and infill scenario analysis without sacrificing model accuracy.