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Oil and gas companies are getting increasing capabilities to generate more value-adding data with the ongoing shift to both large in-house and cloud-based computation and storage facilities. It is easy to get lost in the digitization journey and get blinded by all the computational power that unveils with high performance computing. The question then becomes: how do we transform the digital footprint of all this data into something that is easy to relate to for decision makers? In other words, what does sensible, aggregated decision support data look like that adds value and justifies the production and collection of all the digital data that is and will be available in the future? What is noise, what is nice to have, and most importantly, what are the key findings in the data?
The abstract discussed how the information gathered from ensemble-based can be utilized for better decision making by adding value compared to traditional focus by considering uncertainties as an integral part of the modelling process.