Ruths.ai Becomes a Trusted Oil and Gas Industry Advisor with Spotfire
Solves problems, identifies cost savings, secures client satisfaction
"Oil and gas is saturated with tools and software, and we saw an opportunity for data science to connect across domains and provide unique workflows," says Ruths.ai CEO Troy Ruths. "As data scientists, we're problem-solvers. We wanted technologies that would enable that problem-solving and not turn us into a software maintenance shop. So, when we sought technology partners, we wanted a solution that enabled easy deployment at enterprise scale.
"Our goal is to be a data science partner, a trusted adviser to our clients by providing them with quality solutions and good advice on how to implement them within their organizations. Data science comes in a lot of different flavors, and the type we like to deliver is visual and interactive because we want endusers to gain trust and exercise intuition using our solution. We also want to allow them to continue to enhance it, because their problems will change.
"Without the right technologies, we would be limited in our ability to deliver and connect with our clients and become trusted partners."
Since its founding, Ruths.ai used TIBCO Spotfire® as its analytics platform. "We have two types of clients," says Mr. Ruths. "Those who have seen Spotfire, and those who have not. Those who have seen it are impressed by the capabilities that can be extended and developed for all the workflows they need. Those who haven't seen it are always blown away by its capabilities.
"Each of our clients is on a different data science maturity curve. That means that we often have to learn what they need and tailor solutions for them. Because of the quality of its tools, TIBCO has developed a large community of users, and we believed this community could really use a great analytics marketplace. Now that we've established a strong foundation in oil and gas, we've launched the first-of-its-kind analytics app store, Exchange.ai, built on TIBCO Spotfire. Users can identify their level of sophistication and see the types of analytics they could purchase to grow their maturity level."
Trusted Advisor Status
Ruths.ai delivers a myriad of solutions using Spotfire. Some of its top Spotfire use cases have included improving reserves bookings, finding field workover opportunities, and decreasing downtime. Says Ruths, "The quality of Spotfire, and our commitment to delivering quality data science, is the basis for our client partnerships.
"When you deliver a data science solution, it’s really just the beginning of a lot of exciting work because the client can continue on their own with Spotfire; they're not dependent on us. We've developed a lot of trust as a data science partner. We've never had a client decline future work."
Demonstrated Cost Savings and Client Satisfaction
"Our work focuses on the business bottom line, and by leveraging Spotfire, we've been able to show dramatic cost savings for our clients. In one example, we increased annual revenue by $10 million by identifying and optimizing field stimulation candidates. In another, we saved $120 million over three years by building a data room for selling the asset and by identifying well workovers and new well completions.
"Providing these kind of solutions is core to the way we work: Optimization should be fast and frugal. It improves client satisfaction and appreciation for the product and allows it to become part of the culture. For our larger clients with many different disciplines, domains, and functional roles, Spotfire is like a Swiss Army knife. It can be used for many functions in many different ways, but you still just have one knife."
High-Quality Development, Easy Deployment
"As frequent developers on the Spotfire platform, it's important to have an API and a platform that we can extend for new solutions and visualizations," says Ruths. "As companies transition to the cloud and expect more technologies in the browser, more is required of the technologies we deploy," says Ruths. "That's why it's so important that Spotfire inherently support seamless transitions from desktop to web.
"Data science should be something that all companies can leverage to improve their business," says Ruths. "By leveraging TIBCO professional services, we're able to augment both our capability and our bandwidth to provide great consulting services and supply access to resources online."
"I believe that the company of the future will be highly optimized. As part of that, we need to give people broader access to the type of analytic solutions that we're providing to our current clients. To this aim, our Exchange.ai analytics app store. The goal is to provide broader access to fast, high-quality data science solutions."