Wood Group today announced that it is collaborating with the Centre for Applied Data Analytics (CeADAR), located at University College Dublin (UCD), to launch a new data analytics capability to deliver significant savings for the energy and industrial sectors.
Wood Group Kenny (WGK) will work with CeADAR to develop predictive analytics for deployment particularly in the oil and gas industry. This will initially be targeted at brownfield engineering services and will strengthen WGK's existing services in the area of measured data analysis.
By tracking the integrity of system components, the service already delivers significant savings to clients through problem detection and optimization, leading to reduced inspection, intervention and maintenance costs.
Bob MacDonald, CEO of Wood Group Kenny, said: "Maximising productivity is a strong focus, even more so in the current low oil price environment. The accelerated development and deployment of advanced analytics capabilities will provide a significant enhancement to our existing brownfield engineering service line in 2016. This specialist technical capability will allow Wood Group Kenny to handle data more efficiently and deliver a greater volume and variety of cost saving insights to our clients."
CeADAR, funded by Enterprise Ireland and Industrial Development Authority (IDA) Ireland, is a market-focused technology centre for the innovation and application of big data analytics and visualization with industry partners. Led by UCD, in partnership with University College Cork and Dublin Institute of Technology, CeADAR specialises in accelerated development and deployment of technologies such as data management, predictive analytics, machine learning, real time analytics and visualisation.
CeADAR is headquartered at NexusUCD, the University's Industry Partnership Centre.
Dr. Brian Mac Namee, Principal Investigator at CeADAR, said: "For CeADAR, working with Wood Group Kenny provides a great opportunity to apply the latest data analytics techniques to large, interesting, real world datasets, and to see this application make a difference to Wood Group Kenny's business."