A: Depending on the use case, there are different ways to analyze tanks. For eg., one of our customers wanted to predict when the level of gas in their tanks would reach critical levels(near empty). They use this information to schedule refills because scheduling a refill for 100s of tanks is tough and optimizing it saves a ton of money and reduces bottlenecks. We used DataRobot's multiseries timeseries feature to forecast tank levels for multiple tanks in a single model.
2.Why Oil And Gas Industries Needs Tank Level Analysis?
A: One of our customers needed Tank level Analysis because they had hundreds of tanks across the country and the process of refilling the tanks was filled with bottlenecks from ordering to delivery. Optimization of this process required forecasting of Gas consumption levels/speeds in the tanks which would help place orders in time(Non-Peak time) and other time saving stuff.
3. Which Sectors, We Can Use This Technology?
A: Any sector that has historical data to train can use this analysis given it fits the use cases around Tank Level analyses or Sensor related Datasets.
4. What About Crude Oil Price Fluctuation?
A: We can apply machine learning techniques used in Stock Price fluctuation on Crude Oil price fluctuation use cases as Crude Oil is a generally traded as a Commodity on the stock market.