Luc Savoie discusses some of the biggest challenges faced by the natural resources industry relating to GIM, from when he started his career to today.
When data is an intangible thing, how can we ensure company’s value their data and understand the commercial ramifications on making decisions from “bad” data?
Natural resources companies need to make multi-million dollar decisions which ultimately stem from their data. These companies need to ensure their decisions are made from quality information to avoid significant cost impacts that can ripple through a whole project if they don’t get it right.
Here are some key take-outs:
“The bottom line is, if you’re dealing with bad data, you’re likely to make bad decisions. And those decisions cost you money.” — Luc
“Data analytics where you can chart things is becoming increasingly important. To do this well and trust what you are creating, you have to have a good database sitting beneath it.” – Luc
“It all comes down to trust. Is the data I’m using to make multi million, sometimes billion dollar decisions, are those correct or not?” – Luc
“If you find the right people, the right process and the right technology – it’s like the golden triangle.” – Luc
Have you heard the one about…
Recently The GIM Channel interviewed Paul Murtagh about how innovations in data management have created improvements, cost efficiencies and better workflows in resources operations.
We also talked to acQuire’s co-founder Bill Withers on creating a resilient technology company. Listen here >
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