chevron tops in using data to drive decisions
April 16, 2015 -- When it comes to making data-driven decisions about day-to-day operations, Chevron is in a class by itself, according to the Institute for Operations Research and Management Sciences (INFORMS), the world's leading organization for analytics.
The institute recently presented Chevron with the prestigious INFORMS Prize, given annually for excellence in advanced analytics and operations research. Previous winners include the Mayo Clinic, Ford, Intel, GE and Procter & Gamble.
Chevron has a long history of applying operations research and advanced analytics. The company applied linear programming in refinery planning in the early 1970s. Chevron started using decision analysis in 1991, and its value to the company has continued to grow over more than two decades. Chevron has applied artificial intelligence techniques to improve asset performance for more than 10 years. Today, the company is leveraging innovative data science techniques to address challenges.
"Chevron's strategy is to differentiate performance through technology," said Paul Siegele, chief technology officer and president of Chevron's Energy Technology Company. "Advanced analytics and operations research are critical to helping us stand out from the competition and confer significant advantages."
Learn more about how Chevron won the INFORMS Prize.
Published: April 2015