OmniSci Accelerated Analytics Powers IHS Markit Oil & Gas Tool, Enabling Customers To Answer Complex Queries In Seconds
OmniSci announced that its Immerse data visualization technology is now powering IHS Markit's Energy Studio: Impact, which provides critical analytics to the oil and gas sector. This subscription-based service allows users to analyze complex energy questions in seconds instead of weeks. With OmniSci's accelerated analytics, IHS Markit customers can handle over hundreds of millions of records efficiently, streamlining production, economic, and commercial analysis of energy resources.
- OmniSci's Immerse technology enhances IHS Markit's Energy Studio: Impact, improving analytics speed.
- Clients can derive actionable insights in seconds from complex datasets, compared to previous weeks.
- None.
SAN FRANCISCO, Dec. 15, 2021 /PRNewswire/ -- OmniSci, the pioneer in accelerated analytics, announced today that its Immerse data visualization technology is being used by IHS Markit, a world leader in critical information, analytics and solutions, to drive IHS Markit's Energy Studio: Impact analytics environment. The analytics environment, made available on a subscription basis to IHS Markit's oil & gas industry customers, offers unequaled insight into the most complex questions about energy exploration, production and distribution, providing answers in seconds instead of weeks.
Through the use of Energy Studio: Impact, energy participants and investors can perform detailed analysis on problems regarding production, reserves, economics, inventory, commercial workflows, finance and other industry factors. The analysis, typically plotted geospatially, can be compared over time to provide additional understanding.
"With OmniSci Immerse at its core, Energy Studio: Impact delivers insight to our clients' fingertips at the speed of their natural curiosity," said Ali Sangster, Vice President of Data Strategy & Analytics Energy and Natural Resources of IHS Markit. "Hundreds of clients currently subscribe to Energy Studio: Impact to find fast, actionable answers to their most difficult queries surrounding the full energy-value chain."
OmniSci Immerse is a browser-based accelerated analytics environment that visualizes results from OmniSciDB, the world's fastest open source SQL engine. By leveraging the power of OmniSciDB, Immerse can visualize queries involving billions of rows of data with near-zero latency.
In its role at the heart of Energy Studio: Impact, Immerse allows IHS Markit customers to pursue a wide range of use cases from analyzing well variances to acreage grading. The environment enables users to derive insights using customized parameters, understand how situations evolve across time, and compare scenarios across vendors, geographies and political boundaries.
"IHS Markit has unleashed the power of analytics to maximum advantage through Energy Studio: Impact," noted Nohyun Myung, VP Sales Engineering and Customer Success of OmniSci. "Many of these user queries involve hundreds of millions of records. With OmniSci, energy customers can answer questions that, not long ago, would have taken six weeks or more to process—but now take only 30 seconds."
A full description of IHS Markit's Energy Studio: Impact tool is available for download. To learn more about OmniSci's accelerated analytics solution, go to www.omnisci.com.
About OmniSci:
OmniSci is the pioneer in accelerated analytics. The OmniSci platform is used in business and government to find insights in data beyond the limits of mainstream analytics tools. Harnessing the massive parallelism of modern CPU and GPU hardware, the platform is available in the cloud and on-premise. OmniSci originated from research at Harvard and MIT Computer Science and Artificial Intelligence Laboratory (CSAIL). OmniSci is funded by GV, In-Q-Tel, New Enterprise Associates (NEA), NVIDIA, Tiger Global Management, Vanedge Capital and Verizon Ventures. The company is headquartered in San Francisco. Learn more about OmniSci at www.omnisci.com.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world's leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners ©2021 IHS Markit Ltd. All rights reserved.
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